980 Avenue of the Americas
Midtown, NYC
Redevelopment, residential & office
masonre partnered with Vanbarton and successfully repositioned 11,000 square feet of retail at the base of Hollingsworth, a luxury mixed- use asset. masonre was engaged as Vanbarton began to underwrite the purchase. We prepared merchandising plans and a rent proforma to illustrate our strategy.
Retail rents on this stretch of Avenue of the Americas range $125-$300 per square foot. We successfully achieved several deals between $350-$365 PSF. While raising the value of the block we elevated the quality of the retail offerings.
