Famularo Team at Eastern Consolidated Arranges Tribeca Lease for Gymnastics Studio Run by World Champion Gymnast
NEW YORK, NY – June 7, 2018 – World champion gymnast Paul Ruggeri will be opening a gymnastics studio in a 3,000-square-foot retail condo at 356 Broadway between Leonard and Franklin Streets in the heart of Tribeca after signing a lease arranged by the Famularo Team at Eastern Consolidated.
James Famularo, Senior Director and Principal at Eastern Consolidated, and Ted Lundeen, Associate Director, negotiated the 10-year lease on behalf of Imperial Development, the owner of the retail space which is situated at the base of a five-story residential condominium. Joshua Birkin of Nest Seekers represented the tenant.
“Tribeca is a perfect neighborhood for a gymnastics studio because so many young families are moving into the area’s new residential developments,” Famularo said. ““Across the street from 356 Broadway, Toll Brothers City Living is developing a 111-unit luxury residential building, which will be a great addition to the 31,000 residential units already available downtown.”
Lundeen added, “This storefront offers 20 feet of frontage on Broadway, full-height glass windows, and 18-foot high ceilings, making it ideal for use as a gymnastics studio. The space was especially appealing because rents on this section of Broadway are more affordable than those along the SoHo or FiDi sections of Broadway.”
The retail space is near New York Law School, Crunch Tribeca, Harley-Davidson of New York City, Black Burger, Dyenamix, Gourmet Garage, and Café Lafayette, as well as accessible to transportation via the 1, 6, A, C, E, J, Z, N, Q, W, PATH train, and ferry.
Famularo has negotiated a number of leases in Tribeca and was instrumental in changing Reade Street into a kid-friendly block by arranging leases for Jacadi, Livly, Reade Street Prep Academy, Miss Rachel’s Ballet School, and the Language Center.
Over 61,000 residents with an average household income of $214,000 live in Downtown Manhattan and the area employs over 275,000 people in media, financial services, insurance, real estate, government, professional services, advertising, technology, and the nonprofit sector. The area features 30 hotels; hosts 14.2 million visitors annually; and is connected by 13 subway lines with an average weekday ridership of nearly 360,000.
Powered by a highly skilled team of over 100 brokers with a fluency in 15 languages, Eastern Consolidated is one of the country’s preeminent full-service commercial real estate firms. Through three core divisions—Investment Sales, Capital Advisory, and Retail Leasing—Eastern Consolidated serves an impressive roster of international and domestic institutional and private investors on real estate transactions of all sizes and across all property types. For more information, visit www.easternconsolidated.com and follow us on Twitter@EasternConsol.
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