NEW YORK CITY—Extell Development is marketing the expansive retail space at its two adjacent multifamily buildings now being developed at 500 and 524 E.14th St., in the East Village, GlobeSt.com has learned EXCLUSIVELY. The agency for the 56,610 square feet of commercial space was given to RKF exclusively. The project will officially break ground this month.
RKF chairman & CEO Robert K. Futterman, EVP Ariel Schuster, managing director Brandon Eisenman and senior asociate Ike Bibi are tasked with marketing the space, which is slated for delivery in the fourth quarter of 2016.
Situated on the southeast corner of East 14th Street and Avenue A, the retail space at 500 E. 14th St. consists of 24,473 square feet on the ground floor and 17,806 square feet in the lower level. Next door, the building at 524 E. 14th St. which is located on the south block between Avenue A and B, features 9,771 square feet on the ground floor and 4,560 square feet in the lower level. All of the retail space is directly across from Stuyvesant Town and Peter Cooper Village, which boasts a strong residential population of 25,000 people.
“With several new residential and retail developments in the area, including Essex Crossing and developments in Alphabet City, there's a tremendous amount of growth in the East Village and the Lower East Side,” says Eisenman. “Spaces of this size are rarely available in this market, and it's a great opportunity for a supermarket, a big-box concept, quick-service restaurant, specialty retailer or other service provider to establish a presence on the bustling East 14th corridor, which is widely known for its variety of shopping, restaurants, services and nightlife. We expect to see a lot of interest for these opportunities leading up to ICSC RECon and at the conference in Las Vegas.”
The buildings are located one block from the 1st Avenue subway stop on the L line.
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Rayna Katz
Rayna Katz is a seasoned business journalist whose extensive experience includes coverage of the lodging sector, travel and the culinary space. She was most recently content director for a business-to-business publisher, overseeing four publications. While at Meeting News, a travel trade publication, she received a Best Reporting award for a story on meeting cancellations in New Orleans during Hurricane Katrina.
