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RXR and Hudson Bay Capital have successfully secured a new tenant for 620 Ave. of the Americas in the Flatiron District – Burlington Coat Factory. The popular retailer will be moving from their current location at 695 Ave. of the Americas, which spans approximately 40,000 square feet, to a larger space measuring 77,970 square feet at their new address.
The lease agreement between RXR and Burlington Coat Factory is set for a term of twelve years. Cliff Simon from CNS Real Estate represented the tenant while RXR was represented by Daniel Birney internally as well as Richard Skulnik, Lindsay Zegans, Ben Sabin and Mary Schwagerl from RIPCO Real Estate.
The asking rent for inline spaces at this location is $100 per square foot while corner spaces are going for $175 per square foot.
In October last year, RXR joined forces with Hudson Bay Capital through its Office Recovery Fund to acquire and recapitalize this property on Avenue of the Americas. In just one year since then , they have managed to secure nearly half a million square feet in leases including both office and retail tenants who have either signed up or extended their existing agreements with them.
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