Letting the Cat Out of the Bag: Biscuits & Bath Nails First Lower Manhattan Deal
In the dog days of summer, Biscuits & Bath has sealed a deal to bring its business to Lower Manhattan for the first time, Commercial Observer has learned.
The full-service dog care business, which has 11 locations throughout Manhattan, has leased 3,100 square feet at the base of 71 Broadway, which was home to The Factory Shoe Outlet for 60 years, according to a press release from Winick Realty Group provided to CO. The asking rent in the 13-year deal was $90 per square foot, a Winick spokeswoman indicated.
“Over the last 10 years, Lower Manhattan has experienced an incredible residential boom with more than 60,000 people currently living down there and more coming every year,” Winick’s Matthew Schuss said in prepared remarks. “However, the abundance of landmarked buildings left few opportunities for the retail services that these residents require, making Biscuits & Bath a much-needed amenity for not only the building but for the entire neighborhood.”
Schuss and Winick’s Darrell Rubens represented Biscuits & Bath and the landlord, Equity Residential, in the deal.
The building at 71 Broadway, also known as 65 Trinity Place, is at Rector Street. There remains 3,502 square feet of available retail in the residential building (previously leased to Champs Deli and a hair salon). Above are 237 apartments with studios starting at $3,055 per month, one-bedrooms at $3,535 a month and two-bedrooms at $4,820 monthly, according to Equity Residential’s website.
The new Biscuits & Bath is slated to open early next year.
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Winick Realty Group is one of New York’s prominent real estate firms specializing in retail leasing and advisory services. Over the years, Winick Realty has served a broad range of domestic and global clients, with a strong emphasis on long-term representation and expansion and growth strategies. Winick Realty Group is highly recognized as a forerunner in the retail real estate market.