Rose Marketing 35,000 Square Feet of Retail Space at 70 Pine Street in Lower Manhattan
Posted On October 31, 2013
Rose Associates, which is currently transforming the historic skyscraper at 70 Pine Street into a luxury residential property, announced today that it is marketing 35,000 square feet of retail space in the building.
The retail offering at 70 Pine is comprised of five spaces that offer great flexibility and the potential to be combined into new configurations. Four of the retail spaces have direct street access, while all of the retail can be accessed via the art deco lobby of 70 Pine, which will be re-opened to consumer foot traffic.
“We are excited to present this significant retail offering, and to return a diverse retail mix to the spacious, landmarked lobby of 70 Pine,” said Adam R. Rose, co-president of Rose Associates. “Our aim is to once again make this lobby an extension of the building’s surrounding streets, to welcome the Financial District’s many office workers and passers-by into 70 Pine for a distinctive retail experience.”
Rose has tapped Williams Jackson Ewing and The Shopping Center Group Retail to lead the retail leasing effort at 70 Pine. Jacqueline Klinger with The Shopping Center Group Retail will be handling retail inquiries.
Michael J. Ewing, known for repositioning retail in landmark buildings such as Grand Central Terminal, said: “The timing couldn’t be more perfect for retailers and restaurateurs looking to get it on Lower Manhattan’s transformation into one of the city’s most exciting emerging neighborhoods. All the ingredients of a successful retail community, a healthy mix of residential and office, the arts and theater, convenient transportation, and great public spaces are already in place.”
The available spaces range in size from 1,554 square feet to 10,092 square feet and the opportunity exists, for the right user, to combine several spaces to create up to 30,000 square feet of contiguous space. Approximately 10,000 square feet features large windows and 18-foot ceilings, and runs above and along Pearl Street. Just below this portion are two street level spaces of more than 4,000 square feet each, which can be combined. There are two other spaces, one of 1,554 square feet and another of 2,119 square feet, which are situated within the building’s lobby with frontage and access along Pine Street.
“Considering the neighborhood’s population, current retail mix, and convenient access to transportation, the space we’re marketing at 70 Pine is an ideal fit for the right restaurant looking to take advantage of a variety of day parts,” added Rose.
Recently, a number of luxury retailers have come to understand the buying power of the Financial District’s population, which is comprised of more than 300,000 workers and 60,000-plus full time residents. Notable neighborhood retailers include Hermes, BMW, Tiffany, Tourbillon, Thomas Pink, Tumi, and True Religion.
Upon completion, 70 Pine will consist of 644 residential units and 132 extended-stay apartments. Residential leasing will begin fall 2014. Earlier this year, Rose placed La Palestra in 23,000 square feet of space at 70 Pine. An operator of high-end fitness centers focused on health and wellness, La Palestra will offer memberships to building and neighborhood residents.
70 Pine Street is a landmarked 66-story, Art Deco structure that was built in 1932. A four-story club sits atop the building. Rose is turning this one-of-a-kind space with incredible views into a building amenity, which will be known as the Panorama Club.
About Rose Associates, Inc.
Based in New York, Rose Associates is a developer, owner and operator of premium residential properties. From planning a new development to managing day-to-day property operations, the Rose 360 Platform offers a full range of services designed to maximize the value of real estate. The firm oversees more than 26,000 units across New York, with approximately $2 billion in projects under development. Rose recently opened the historic skyscraper 70 Pine Street, which the firm is transforming into a luxury rental property with 644 residential units, 132 extend-stay apartments and a destination restaurant/lounge occupying the top four floors.