NEW YORK, NY – April 8, 2014 – Eastern Consolidated has been retained as the exclusive agent to lease prime retail space at 425-427 Seventh Avenue, a well-located, two-building parcel with 39 feet of frontage across from Penn Station and Madison Square Garden, and in close proximity to Macy’s.
The property provides 2,400 square feet of prime retail space on two levels, including a full basement. Ideally suited for a single user, the two-building space is also available to individual tenants in a highly visible, 24/7 neighborhood with tremendous foot traffic, and additional branding opportunities. Both spaces have kitchens, are fully vented, and can be delivered within 30 days.
“Retail tenants have the opportunity to lease prime space in one of the world’s busiest transportation, business, and retail districts,” said Alexander Hill, Senior Director with Eastern Consolidated, who along with Associate Director Annie Meyding represents the space on an exclusive basis. “Between Madison Square Garden, Penn Station, and Macy’s alone the foot traffic is incredible.”
Ms. Meyding also noted that while the property is attracting interest from several midline restaurants and brewpubs looking to cater to the commuter population, the retail leasing opportunity appeals to a diversity of tenants. “The location is equivalent to being in Times Square,” she said. “It has great visibility with easy, convenient access and a constant flow of customers.”
As a separate agreement, tenants will also have the opportunity to utilize the property’s three digital billboards for advertisement.
The exclusive leasing assignment is part of Eastern Consolidated’s retail leasing division, which specializes in both tenant and landlord representation, and complements the firm’s thriving retail investment sales division, giving clients access to premier retail listings for stores, bars, lounges, and restaurants throughout the five boroughs.
Founded in 1981, Manhattan-based Eastern Consolidated is one of the country’s preeminent full-service real estate investment services firms, offering unrivaled expertise in the greater New York marketplace to an impressive worldwide roster of institutional and private investor clients. The 60-person team of brokers, who, combined, offer fluency in 15 languages, come from a wide diversity of entrepreneurial and professional backgrounds. With annual sales up to $4 billion, Eastern Consolidated focuses on the acquisition, disposition and finance of all types of properties.