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CVS takes 9,000 SF at 1500 Lexington Ave. (Retail New York).

Rose Associates, Inc., one of New York's oldest full-service full-ser·vice
adj.
Associated with or offering complete service: full-service gasoline pumps; full-service banks. 
 real estate firms, has completed a transaction with CVS (1) (Concurrent Versions System) A version control system for Unix that was initially developed as a series of shell scripts in the mid-1980s. CVS maintains the changes between one source code version and another and stores all the changes in one file.  for approximately 9,000 SF of ground-floor retail space in 1500 Lexington Ave AVE Avenue
AVE Average
AVE Alta Velocidad Espanola (train between Madrid and Seville)
AVE Alta Velocidad Española (Spanish: High Speed Train)
AVE Audio Video Entertainment
AVE Advertising Value Equivalent
. at the southwest corner of East 97th Street in Manhattan.

The 211-unit residential building, under development by Kenbar Group, is scheduled for completion in spring 2003. Rose Associates represented the owner and tenant in the transaction.

1500 Lexington Ave. also offers approximately 5,000 SF of lower-level space with its own entrance on Lexington Avenue. The space, which is located in close proximity to Mount Sinai, Metropolitan and Lenox Hill hospitals Lenox Hill Hospital, on Manhattan's Upper East Side, is a 652-bed, acute care hospital and a major teaching affiliate of NYU Medical Center. Founded in 1857 as the German Dispensary, today's 10-building Lenox Hill Hospital complex has occupied its present site since 1868 when it , is suitable for a variety of professional uses.

Rose Associates is currently marketing the approximately 5,500-SF ground-floor retail space at 1501 Lexington Ave., directly across the street from the CVS site. This recently completed 160-unit residential building features 75 feet of retail frontage along Lexington Avenue between East 96th and East 97th Streets. The building was also developed by Kenbar Group and is fully leased.

A third property under development by Kenbar Group is 1510 Lexington Ave. on the west side of Lexington Avenue between 97th and 98th Streets. The 350-unit residential building will offer approximately 20,000 SF of retail space and is scheduled for completion in early 2005.

"Rose Associates has provided complete service to the developer of these properties, acting as leasing and management agent for the retail and residential components of the buildings," said Bruce Bruce, Scottish royal family descended from an 11th-century Norman duke, Robert de Brus. He aided William I in his conquest of England (1066) and was given lands in England.  Spiegel, senior managing director of Rose Associates. "The critical mass of more than 700 new market-rate residential units located near the 96th Street subway subway: see rapid transit.
subway

Underground railway system used to transport passengers within urban and suburban areas. The first subway line, 3.
 stop further heightens the retail appeal of this established neighborhood.
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Copyright 2002, Gale Group. All rights reserved. Gale Group is a Thomson Corporation Company.

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Article Details
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Publication:Real Estate Weekly
Geographic Code:1USA
Date:Oct 9, 2002
Words:276
Previous Article:Diamond store to move to Fifth Avenue. (Retail New York).
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