Party City, America’s largest party goods chain and Halloween retailer, has signed a new, 15-year, 13,000-square-foot lease at the corner of West 92nd Street and Columbus Avenue. The space-where construction is to begin in the fall of 2011-is part of a new retail component at the base of 100 West 93rd Street, a condominium building with 279 residential units. This location is Party City’s first new store in New York City in over a decade.
“This is one of the most exciting retail construction projects slated for the upper west side and the area will truly benefit from this wonderful new retail block front. This stretch of Columbus Avenue will now become a shopping destination,” according to Amira Yunis, executive vice president and principal of the National Retail Group at Newmark, who represented the landlord with Managing Director Jared Lack.
The National Retail Group is currently marketing 23,000 square feet of ground and lower level space in this exciting project and, per Yunis and Lack, they have been seeing interest from many qualified national tenants.
“Party City is a great anchor for the new retail development at 670 Columbus Avenue,” says Josh Siegel, president of Starrett Development, “and we are excited to find additional strong retailers that will be an asset for the surrounding community for the remaining spaces.”
The tenant, Party City, was represented by Patrick Smith and Matt Ogle of SRS Real Estate Partners.
About Party City
Party City Corporation is America’s largest party goods chain and Halloween retailer, operating more than 600 stores throughout the United States and Puerto Rico. As a part of Amscan Holdings, Inc., Party City is among the more than 900 specialty party stores that AHI either owns, operates, or franchises. To learn more about Party City, please visit www.partycity.com.
About Newmark
Newmark is one of the largest independent real estate service firms in the world. Headquartered in New York, Newmark and London-based partner Knight Frank operate from over 220 offices in established and emerging roperty markets on six continents. With a combined staff of 7,300 and revenues last year exceeding $861 million, this major force in real estate is meeting the local and global needs of owners, tenants, investors and developers worldwide. For further information, visit www.newmarkkf.com.