Bellantoni, who is marketing the property jointly with CEO Robert Futterman and associate director Josh Strauss, acknowledges that the property has been on the market for an extended period but denies Staav's assertion that greed has stood in the way of developing the site."That's a pretty unfair statement. The owner is very cooperative," she says. "He came to RKF for a couple of reasons. He's been talking about doing a build to suit off and on for about 24 months. We have a pretty sizeable corral of tenants and we do a lot of tenant rep. We also do a lot of owner rep and we have a pretty good history of closing on agencies. If we bring a good offer he will take a hard look at it."

Still, Bellantoni concedes that even tony SoHo has been hit by the ongoing economic crunch and that attracting serious tenants these days is a challenge. "There's definite interest from new, contemporary-type retailers but for the people in SoHo, business has been tough. There's been a slower traffic pattern." Fashion and home-furnishing tenants have expressed the most interest in the site, she says.

Bellantoni says 8,000 sf is the maximum building size the current zoning will allow for the site and that the owner "has a rental number in mind somewhere in the neighborhood of $700,000 net" per annum. "We'll give a long-term lease, 15 to 20 years with some options," she says, adding that the rent could be anywhere from $275 per sf up to $400 per sf, depending on tenant needs, and that the site is best suited to a single tenant under a net lease because of its 1,600-sf floorplate.

Futterman's Strauss is also working with the same owner on another retail property at 70 Wooster St. According to Bellantoni, the space is on the ground and basement levels and totals roughly 11,400 sf. The owner brought the two deals to the firm simultaneously and while they are technically being marketed separately, Bellantoni says they are being treated as one project.

In a separate deal, the firm has been awarded the agency for a Flatbush Avenue retail property located across from Kings Plaza Shopping Center in Brooklyn, according to Barry Fishbach, a vice president at the firm. Fishbach says the 18,500-sf space at 2854 Flatbush Ave., will reap the benefits of major upgrades to the nearby mall.

"The property's visibility makes it an attractive location for a number of major retailers looking to establish a presence and take advantage of a tremendous opportunity in this market," he says. "Space of this size and quality is rarely available near Kings Plaza, which recently underwent a spectacular renovation and is the only mall in Brooklyn."

Currently occupied by Sovereign Mercedes, the space also offers adjacent parking. Neighboring retailers include Macy's, Sears, Old Navy, CVS, Toys R Us, Modell's and The Wiz.