Case Studies

The Grace Building

Creating the Right Fit

The Grace Building is a 1.5 million square foot landmarked class A office building in mid-town Manhattan positioned between 42nd and 43rd streets, facing Bryant Park. In the mid 90's, the section of 42nd street along the Park was struggling to redefine itself with better quality retail tenants. At that time, the landlord of the Grace Building engaged the services of the entire NYC retail brokerage community to secure the right retailer for a vacant retail space facing 42nd street, at the base of the building. After nearly a year on the market, the space remained vacant. Mr. Menkin approached the landlord to offer his services. He engaged the landlord in a series of meetings to understand their parameters for the ideal retailing tenant. The landlord wanted a nationally recognized non-food retailer whose tenancy would complement the character of the property and serve as an amenity for office tenants in the building. Mr. Menkin accepted the challenge and successfully brokered a lease for Hallmark Cards to occupy the entire vacant retail piece.

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Menkin Realty Services, Inc. | 489 Fifth Ave | New York, NY 10017 | P: 212-818-0099 | F: 212-818-0330 |