Construction on New York City's Next Great Retail Corner, at 72nd and Broadway, Begins
11/20/2007
11/20/2007
Philips International and Rhodes NY Developing Premier
Retail Destination in the Heart of the Upper West Side at One of Manhattan’s Most Highly Trafficked Intersections
NEW YORK, NY — New York City’s next great retail corner, at the intersection of 72nd Street and Broadway -- directly across from one of the busiest and most iconic subway stations in all of Manhattan -- has just broken ground.
To be known simply as 72nd and Broadway (www.72andbway.com), the new shopping hub rising at 2075 Broadway, at the southwest corner of 72nd Street, will consist of nearly 48,000 square feet of prime retail space. The visionary retail development is a joint venture between Philips International and Rhodes NY. It will offer retailers extraordinary visibility and exposure with 22-foot high ground floor ceilings and glass storefronts with 200 feet of wraparound frontage.
The Upper West Side is already a 24/7 shopping magnet, where popular neighborhood retailers, such as Barneys Co-Op, Intermix, Theory, The North Face, Lucky Brand Jeans, Sephora, Urban Outfitters, Swatch, Fairway and Citarella, are flourishing. 72nd and Broadway is poised to add to the area’s thriving retail.
“There are very few spots in Manhattan that offer the exposure 2075 Broadway will and a design that offers incredible visibility,” said Robert K. Futterman, chairman & CEO of Robert K. Futterman & Associates, the exclusive leasing agent on the project. “2075 Broadway is a fabulous location to reach the young, affluent residents and shoppers of the Upper West Side.”
Perched on one of Manhattan’s most recognizable corners, right in the heart of the Upper West Side, 72nd and Broadway’s location is unbeatable. The property will benefit from the subway station across the street, which is one of the most heavily trafficked in the city and boasts an annual ridership of 11.2 million, in addition to the area’s hundreds of thousands of residents and visitors. The Upper West Side is one of the most affluent and vibrant neighborhoods in Manhattan. The average resident is between 35 and 40 years of age, with a median household income of $180,000.
“72nd and Broadway will draw not only the residents of the Upper West Side, but will also attract shoppers from all over New York City,” stated Lynette Tulkoff, director of development for the project. “We believe this corner will be the city’s next great retail destination on par with legendary locations like 57th and Fifth, 86th and Lexington, and Broadway and Houston.”
The types of tenants being drawn to 72nd and Broadway, added Futterman, are aspirational brands – from the fashion, home furnishing and technology worlds.
This spectacular retail space will sit at the base of a 19-story luxury rental tower, being developed by The Gotham Organization. Designed by Handel Architects, 2075 Broadway is a green building, seeking silver LEED certification. Construction on 2075 Broadway is expected to be complete by fourth quarter 2009.
About Robert K. Futterman & Associates:
The country’s leading independent real estate firm specializing in retail leasing and investment sales, Robert K. Futterman & Associates (RKF) serves a broad spectrum of domestic and global clients in services ranging from national tenant and owner representation to advisory, consulting and disposition. With over $7.4 billion in aggregate real estate transactions to its credit, RKF has been responsible for identifying scores of real estate opportunities throughout the United States for leading American and international chains, retailers, developers and institutional clients. RKF is headquartered in New York with offices in Las Vegas, Los Angeles and San Francisco.
About Rhodes NY:
Rhodes NY is a privately held New York real estate investment and development company specializing in the acquisition of strategic development opportunities with exceptional retail. The development of 72nd & Broadway, a prime gem in their portfolio, is indicative of the investment and development focus of Rhodes NY.
Rhodes NY is located at 286 Madison Avenue, 12th Floor, New York, New York 10017. Telephone: 212-686-5681 Email: www.72andbway.com
About Philips International:
Philips International is a cutting edge developer specializing in the finance, acquisition, construction, management as well as marketing, sales and leasing of over 150 commercial, office, residential and hotel properties including a strategic network of more than eighty shopping centers. Headquartered in New York City, Philips pays particular focus in the greater New York and Florida metropolitan areas with satellite offices in Hialeah, Florida, Richmond, Virginia and Houston, Texas. Philips is constantly setting new industry benchmarks and is one of the country’s most renowned real estate organizations.
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Retail Destination in the Heart of the Upper West Side at One of Manhattan’s Most Highly Trafficked Intersections
NEW YORK, NY — New York City’s next great retail corner, at the intersection of 72nd Street and Broadway -- directly across from one of the busiest and most iconic subway stations in all of Manhattan -- has just broken ground.
To be known simply as 72nd and Broadway (www.72andbway.com), the new shopping hub rising at 2075 Broadway, at the southwest corner of 72nd Street, will consist of nearly 48,000 square feet of prime retail space. The visionary retail development is a joint venture between Philips International and Rhodes NY. It will offer retailers extraordinary visibility and exposure with 22-foot high ground floor ceilings and glass storefronts with 200 feet of wraparound frontage.
The Upper West Side is already a 24/7 shopping magnet, where popular neighborhood retailers, such as Barneys Co-Op, Intermix, Theory, The North Face, Lucky Brand Jeans, Sephora, Urban Outfitters, Swatch, Fairway and Citarella, are flourishing. 72nd and Broadway is poised to add to the area’s thriving retail.
“There are very few spots in Manhattan that offer the exposure 2075 Broadway will and a design that offers incredible visibility,” said Robert K. Futterman, chairman & CEO of Robert K. Futterman & Associates, the exclusive leasing agent on the project. “2075 Broadway is a fabulous location to reach the young, affluent residents and shoppers of the Upper West Side.”
Perched on one of Manhattan’s most recognizable corners, right in the heart of the Upper West Side, 72nd and Broadway’s location is unbeatable. The property will benefit from the subway station across the street, which is one of the most heavily trafficked in the city and boasts an annual ridership of 11.2 million, in addition to the area’s hundreds of thousands of residents and visitors. The Upper West Side is one of the most affluent and vibrant neighborhoods in Manhattan. The average resident is between 35 and 40 years of age, with a median household income of $180,000.
“72nd and Broadway will draw not only the residents of the Upper West Side, but will also attract shoppers from all over New York City,” stated Lynette Tulkoff, director of development for the project. “We believe this corner will be the city’s next great retail destination on par with legendary locations like 57th and Fifth, 86th and Lexington, and Broadway and Houston.”
The types of tenants being drawn to 72nd and Broadway, added Futterman, are aspirational brands – from the fashion, home furnishing and technology worlds.
This spectacular retail space will sit at the base of a 19-story luxury rental tower, being developed by The Gotham Organization. Designed by Handel Architects, 2075 Broadway is a green building, seeking silver LEED certification. Construction on 2075 Broadway is expected to be complete by fourth quarter 2009.
About Robert K. Futterman & Associates:
The country’s leading independent real estate firm specializing in retail leasing and investment sales, Robert K. Futterman & Associates (RKF) serves a broad spectrum of domestic and global clients in services ranging from national tenant and owner representation to advisory, consulting and disposition. With over $7.4 billion in aggregate real estate transactions to its credit, RKF has been responsible for identifying scores of real estate opportunities throughout the United States for leading American and international chains, retailers, developers and institutional clients. RKF is headquartered in New York with offices in Las Vegas, Los Angeles and San Francisco.
About Rhodes NY:
Rhodes NY is a privately held New York real estate investment and development company specializing in the acquisition of strategic development opportunities with exceptional retail. The development of 72nd & Broadway, a prime gem in their portfolio, is indicative of the investment and development focus of Rhodes NY.
Rhodes NY is located at 286 Madison Avenue, 12th Floor, New York, New York 10017. Telephone: 212-686-5681 Email: www.72andbway.com
About Philips International:
Philips International is a cutting edge developer specializing in the finance, acquisition, construction, management as well as marketing, sales and leasing of over 150 commercial, office, residential and hotel properties including a strategic network of more than eighty shopping centers. Headquartered in New York City, Philips pays particular focus in the greater New York and Florida metropolitan areas with satellite offices in Hialeah, Florida, Richmond, Virginia and Houston, Texas. Philips is constantly setting new industry benchmarks and is one of the country’s most renowned real estate organizations.
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