The Most Significant Retail Deal of the Year –– presented to Patrick A. Smith, Mark Kapnick, Corey Zolcinski and Matt J. Ogle of SRS Real Estate Partners-Northeast, LLC –– recognized a group of retail transactions that redefined Bryant Park. The team was hired by Equity Office Properties, a wholly owned entity of The BlackStone Group, to lease approximately 160,000 square feet of retail space at 3 Bryant Park, 5 Bryant Park and 210 West 42nd Street, at the northwest corner of Bryant Park, which had previously been vacant and on the market for nearly four years. Instead of viewing Bryant Park like other retail districts in Manhattan, which have been defined by a single, groundbreaking tenant, the SRS Real Estate team refocused the marketing strategy on co-tenancy and changing the market’s perception of the properties by hosting a successful industry event and showcasing public artwork in the retail spaces. The team secured a diverse mixture of tenants to meet multiple customer needs for the area: for luxury retail, the team brought in luxury watch retailer Torneau; for daily needs, Whole Foods Market and Citibank; for lifestyle and fitness, Asics and Soul Cycle; and for restaurant and entertainment, Academia Brilla and Coffeemania. The scale of this project and quality of the tenancy positioned Bryant Park as a seven-day-a-week, independent and substantial retail submarket.
Read the full press release here.