Wine Cellerage Extends Lease to 22,343 SF

NEW YORK CITY-The Wine Cellerage, a locally based, wine services company, has extended its lease by 5,843 sf at 890 Garrison Ave. The company now occupies 22,343 sf at the Bronx property.

The asking rent at the BankNote building, a 420,000-sf loft-style office and retail complex, is $25 per sf. The aggregate rent for the expansion is approximately $1 million. Lars Neubohn, president of the Wine Cellarage, represented himself in the seven-year lease transaction. Paul Wolf, president of Denham Wolf Real Estate Services, represented the landlord, co-developers, Taconic Investment Partners and Denham Wolf Real Estate Services Inc.

“The property is undergoing a $25-million redevelopment including new windows, lobbies, bathrooms, elevators and mechanical systems, and improved parking and amenities,” Wolf, president of Denham Wolf Real Estate Services, tells GlobeSt.com. “The building is about 50% occupied now that we are in the middle of construction and we are actively leasing up this fall.”