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Fairway Market Inks 52,000-SF Lease in Lower Manhattan

Grocer Signs 20 Year Deal at Resnick's 255 Greenwich St
October 4, 2013
Fairway Group Holdings, the operator of famed grocery chain Fairway Market, has signed a 20-year retail lease for 52,242 square feet in the lower floors of Jack Resnick & Son's 255 Greenwich St. in New York City.

This will be the grocer's first location in Lower Manhattan, though it has signed on to anchor the Hudson Yards development in 2015. The fast-growing supermarket chain, which emphasizes fresh, natural and organic products, prepared foods, and hard to find specialty and gourmet offerings, operates 14 markets in the region, including five in Manhattan, one in Brooklyn, two in New Jersey, two in Westchester County, two on Long Island and one in Queens.

The new Fairway store will occupy 11,358 square feet on the ground floor and 40,894 square feet on the lower level of 255 Greenwich. Projected to open in fall 2014, it will feature an entrance at street level with escalators and elevators down to the main store.

Previously known as 75 Park Place, the Resnick Family built the property in 1984 and renamed it in 2012 in an effort to bolster the Greenwich Street thoroughfare. The 14-story, 600,000-square-foot tower is now fully leased to tenants including RR Donnelley & Sons, the City of New York, and the Borough of Manhattan Community College. The retail portion of the building has 20-foot ceiling heights, dedicated loading dock and freight handling, and asking rents in the $200 to $250 range.

Brett Greenberg and Dennis Brady with Jack Resnick & Sons represented the building owners in-house. Alan Cooperman of Welco Realty and Jason Pruger with Newmark Grubb Knight Frank Retail represented Fairway.

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