Daffy's opens its first downtown store at 50 Broadway.In a big boost to the downtown marketplace, Daffy's, the designer wear discounter, has signed a 20-year lease for 18,500 s/f of ground floor, mezzanine and basement space at 50 Broadway for its first-ever store in the Financial District. The space most recently served as a bank branch office. The 37-story office tower at 50 Broadway, owned by the United Federation of Teachers, is a distinctive 342,000 s/f art-deco structure built in 1929. Construction of the store has already begun, with an anticipated opening date of April, 2005, according to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. David R. Hickey, general manager of the UFT UFT United Federation of Teachers UFT Tegafur-Uracil (chemotherapy) UFT Unified Field Theory (physics) UFT Undergraduate Flying Training UFT Unofficial Foreign Travel UFT Up for Trade , who represented the landlord in the lease negotiations. Daffy's was represented by its senior vice president and CFO See Chief Financial Officer. Richard Kramer. Colliers ABR (1) (AutoBaud Rate detect) The analysis of the first characters of a message to determine its transmission speed and number of start and stop bits. (2) (Available Bit R , Inc. acted as the sole real estate broker in the transaction. Neil A. Lipinski and Michael J. Hofmann, of Colliers' retail division, represented the UFT, while Daffy's was represented by Joseph Grotto, Sr. and John Grotto. "We're very bullish about lower Manhattan," said Daffy's president and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. Marcia Wilson. "We look forward to being an important contributor to the continued growth and renaissance of this historic neighborhood." As part of the lease transaction, the landlord has agreed to install a new freight elevator on the New Street side of the building, which will stop on both the Broadway and mezzanine levels, thus creating an efficient means of moving goods into the new Daffy's store. "We're delighted to welcome Daffy's to our building," said UFT president Randi Weingarten. "And we welcome their important contribution to the revitalization of lower Manhattan." "We are extremely pleased that Daffy's will be joining lower Manhattan's expanding retail mix," said Carl Weisbrod, president of the Alliance for Downtown New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of . "Its opening recognizes the purchasing power Purchasing Power 1. The value of a currency expressed in terms of the amount of goods or services that one unit of money can buy. Purchasing power is important because, all else being equal, inflation decreases the amount of goods or services you'd be able to purchase. 2. of 280,000 employees, over 30,000 local residents and millions of visitors, and is another illustration of the surge of economic and leasing activity in lower Manhattan." |
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