Hoping to regain its former stature, and customers, Coliseum Books is reopening, and relocating, this April at 11 W 42nd St. The store sat for 27 years on the corner of 57th St. and Broadway, but when its lease expired in January 2002 Coliseum Books closed up shop—reportedly ending its reign as NYC's largest independent bookstore.
Known for its eclectic selection of books and bibliophiles, Coliseum is hoping to capitalize on its new locale across the famed New York City Public Library. Jansizian Group Ltd. president Philip Metzidakis served as Coliseum's exclusive broker in a search that took nearly 18 months. "We had to find a high-traffic location suitable for a bookstore," Metzidakis explains. "We put the pieces together in Tishman Speyer's building at 42nd and Fifth."
Andrew Goldberg and Eric Gelber of Insignia/ESG's retail group represented Tishman Speyer in the transaction. Jeffrey Moross and Glenn Motelson from the law firm of Davis & Gilbert LLP also worked with Tishman Speyer on the deal. Coliseum's legal representation was partner Mitchell A. Gilbert from Windels Marx Lane & Mittendorf LLP.
Separately, Fashion 21 is opening in two NYC locations—one in Manhattan and one in Brooklyn. In Fall 2003, junion fashion retailer Forever 21 will debut its flagship property in the former 25,000-sf Bradlees department store in Union Square. Located at 40 East 14th St., this Manhattan venue is expected to compliment the chain's second NYC store—encompassing 20,000 sf in Brooklyn's Gallery at Fulton Street.
Robert K. Futterman & Associates arranged the two 15-year leases. "Forever 21 is expanding across the U.S., particularly accelerating its leasing activity within the New York metro area," says RKF CEO Robert Futterman.
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