Whole Foods Market Leases 47,000 sf to Anchor Retail Component of Project
09/02/2008
09/02/2008
RKF Secures Whole Foods Market for The World-Wide Group’s 250 East 57th Street
New York, NY — Robert K. Futterman & Associates, LLC (RKF), the nation’s leading independent real estate firm specializing in retail leasing, investment sales and consulting services has arranged a lease with Whole Foods Market for 47,000 square feet at 250 East 57th Street. The multi-level Whole Foods Market, scheduled to open in 2012, will anchor the 170,000-square-foot retail component at The World-Wide Group’s mixed-use development at 57th Street and Second Avenue in Manhattan.
RKF Chairman & CEO Robert K. Futterman, Senior Vice President Ariel Schuster and Associate Izzy Anthony represented The World-Wide Group. Chase Welles of Northwest Atlantic Real Estate Services represented Whole Foods Market.
The World-Wide Group has leased the project site from the Educational Construction Fund, an arm of the New York City Board of Education. 250 East 57th Street is a 1 million-square-foot development site that will include 170,000 square feet of retail space, a 59-story residential tower with a mix of rental and for-sale units, and two new public schools – the High School of Art and Design and PS 59.
““We are thrilled about securing Whole Foods Market as the anchor retail tenant of this exciting development,” said Mr. Schuster. “Whole Foods Market will most certainly attract other retailers to the project and surrounding area, and solidify the market as a major retail hub of the City.”
Recent new area residential developments, including One Beacon Court, The Milan, The Veneto and ThreeTen Condo have increased the need for specialty retailers to accommodate the new residential base. The Container Store and Home Depot were among the first wave of new national retailers to join Bloomingdale’s, Pottery Barn, Williams-Sonoma and Banana Republic in the area. 250 East 57th Street will now extend this strong retail market to Second Avenue.
About The World-Wide Group:
The World-Wide Group and its affiliates are privately held investment companies, based in New York City. They are headed by Victor Elmaleh, Chairman; and James Stanton, President, who have been engaged in real estate development and venture capital investing for over half a century. With a reputation for successfully tackling complex urban development opportunities, the group has developed over $3 billion worth of new luxury residential properties in New York City. Its projects include 255 East 74th Street, Milan, 50 Murray Street, 53 Park Place, 88 Greenwich Street, 71 Broadway, The Steiner Building in Chelsea and The Reade Street Condominiums in Tribeca.
About Robert K. Futterman & Associates:
The country’s leading independent real estate firm specializing in retail leasing and investment sales, Robert K. Futterman & Associates (RKF) serves a broad spectrum of domestic and global clients in services ranging from national tenant and owner representation to advisory, consulting and disposition. With over $9 billion in aggregate real estate transactions to its credit, RKF has been responsible for identifying scores of real estate opportunities throughout the United States for leading American and international chains, retailers, developers and institutional clients. RKF is headquartered in New York with offices in Las Vegas, Los Angeles, New Jersey and San Francisco.
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New York, NY — Robert K. Futterman & Associates, LLC (RKF), the nation’s leading independent real estate firm specializing in retail leasing, investment sales and consulting services has arranged a lease with Whole Foods Market for 47,000 square feet at 250 East 57th Street. The multi-level Whole Foods Market, scheduled to open in 2012, will anchor the 170,000-square-foot retail component at The World-Wide Group’s mixed-use development at 57th Street and Second Avenue in Manhattan.
RKF Chairman & CEO Robert K. Futterman, Senior Vice President Ariel Schuster and Associate Izzy Anthony represented The World-Wide Group. Chase Welles of Northwest Atlantic Real Estate Services represented Whole Foods Market.
The World-Wide Group has leased the project site from the Educational Construction Fund, an arm of the New York City Board of Education. 250 East 57th Street is a 1 million-square-foot development site that will include 170,000 square feet of retail space, a 59-story residential tower with a mix of rental and for-sale units, and two new public schools – the High School of Art and Design and PS 59.
““We are thrilled about securing Whole Foods Market as the anchor retail tenant of this exciting development,” said Mr. Schuster. “Whole Foods Market will most certainly attract other retailers to the project and surrounding area, and solidify the market as a major retail hub of the City.”
Recent new area residential developments, including One Beacon Court, The Milan, The Veneto and ThreeTen Condo have increased the need for specialty retailers to accommodate the new residential base. The Container Store and Home Depot were among the first wave of new national retailers to join Bloomingdale’s, Pottery Barn, Williams-Sonoma and Banana Republic in the area. 250 East 57th Street will now extend this strong retail market to Second Avenue.
About The World-Wide Group:
The World-Wide Group and its affiliates are privately held investment companies, based in New York City. They are headed by Victor Elmaleh, Chairman; and James Stanton, President, who have been engaged in real estate development and venture capital investing for over half a century. With a reputation for successfully tackling complex urban development opportunities, the group has developed over $3 billion worth of new luxury residential properties in New York City. Its projects include 255 East 74th Street, Milan, 50 Murray Street, 53 Park Place, 88 Greenwich Street, 71 Broadway, The Steiner Building in Chelsea and The Reade Street Condominiums in Tribeca.
About Robert K. Futterman & Associates:
The country’s leading independent real estate firm specializing in retail leasing and investment sales, Robert K. Futterman & Associates (RKF) serves a broad spectrum of domestic and global clients in services ranging from national tenant and owner representation to advisory, consulting and disposition. With over $9 billion in aggregate real estate transactions to its credit, RKF has been responsible for identifying scores of real estate opportunities throughout the United States for leading American and international chains, retailers, developers and institutional clients. RKF is headquartered in New York with offices in Las Vegas, Los Angeles, New Jersey and San Francisco.
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