240 East 86th Street
NEW YORK, NY
RKF was tasked with marketing 45,283 SF vacated by Barnes & Noble and Circuit City on Manhattan’s Upper East Side. The firm crafted a detailed merchandising strategy to identify uses absent from the market. It was determined that a supermarket would not only meet consumer demand by bringing a much needed service to the neighborhood, but the right tenant would revitalize a less sought after block of the 86th Street retail corridor. RKF consulted with a team of professionals in the fields of architecture, engineering and marketing to convert this two-tenant, dry-use space into a multi-level, space with the infrastructure to support a high volume gourmet market. A lease with Fairway Like No Other Market (“Fairway”) was completed in August 2010 and was one of the most highly anticipated store openings on the Upper East Side in recent memory. Fairway has had a positive impact on the market. Embraced by the local community board and area residents, Fairway has created renewed interest from tenants in 86th Street east of Third Avenue and has also enhanced the value of both the retail and residential real estate in the area.