May 14, 2017
A high-end French furniture store will fill more than half of the first-floor retail space at the Coronado, a new, luxury condominium tower at 2040 Broadway on the Upper West Side.
Roche Bobois will occupy 3,525-square-feet. But most of its space is in the middle of the building. Spaces fronting the street — like the 850-square-foot corner space at Broadway and 70th St. — were left available to earn higher rents. That allowed the landlord to offer Roche Bobois a more attractive rent.
“The landlord was willing to accept a few dollars less in rent for the right operator,” said Ariel Schuster, vice chairman for RKF, which represented landlord Sherwood Equities in the lease.
You can hear more of Schuster’s perspective on New York City retail at Connect Media’s NY launch event, Connect NY Next Generation, which will be held Wednesday, May 17, 2017 at The Flatiron Room in New York City.
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