Lansco Corp. wins Olympic bid to become exclusive agents for Fifth Ave. retail space.New York City New York City: see New York, city. New York City City (pop., 2000: 8,008,278), southeastern New York, at the mouth of the Hudson River. The largest city in the U.S. may not have won its bid for the 2012 Olympic Games Olympic games, premier athletic meeting of ancient Greece, and, in modern times, series of international sports contests. The Olympics of Ancient Greece Although records cannot verify games earlier than 776 B.C. , but Alan Victor, executive vice president, and Tom Duke, managing director, of The Lansco Corporation, have won their bid to become exclusive leasing agents on 4,701 s/f of retail space owned by Olympic Tower Associates at 10 East 52nd Street between Madison and Fifth Avenues. The bi-level retail space includes 2,200 s/f on the ground floor, which had been occupied by Ryoyu Restaurant, and 2,501 s/f on the second floor, which had been commercial offices. Olympic Tower Associates is asking $250 psf for the ground floor and $60 psf for the second floor, just one-third the rate of nearby Fifth Avenue rents. 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. the Fifth Avenue Association, a nonprofit organization Nonprofit Organization An association that is given tax-free status. Donations to a non-profit organization are often tax deductible as well. Notes: Examples of non-profit organizations are charities, hospitals and schools. composed by major owners and tenants in the area, between 8,000 and 10,000 pedestrians pass by Fifth Avenue and 52nd Street during peak hours. "Any retailer would benefit from the location and affordability given today's market," said Victor. "Additionally, the space will feature two-levels of 30-foot glass frontage, giving it outstanding visibility in one of the busiest shopping areas in the city." "The building is also undergoing an extensive renovation that includes a new storefront and an electrical and HVAC (Heating Ventilation Air Conditioning) In the home or small office with a handful of computers, HVAC is more for human comfort than the machines. In large datacenters, a humidity-free room with a steady, cool temperature is essential for the trouble-free upgrade," added Duke. Neighboring retailers include Saks Fifth Avenue Saks Fifth Avenue is a chain of upscale American department stores that is owned and operated by Saks Fifth Avenue Enterprises (SFAE), a subsidiary of Saks Incorporated. It competes in the elite luxury department store market with Neiman Marcus, Bergdorf Goodman and Barneys New , Cartier, Ferragamo, Gianni Versace, Torneau, and Rockefeller Center. Pronovias will open its flagship store nearby in 2007. Victor was exclusive retail leasing agent at the adjacent Olympic Tower, the first Manhattan skyscraper to combine shops, offices and luxury apartments in the same building, in the 1990s. During that time, he successfully urged Olympic Tower Associates to take the ground-floor retail space bi-level in order to maximize the value and income of the property. He placed AIX (Advanced Interactive eXecutive) IBM's Unix-based operating system which runs on its Intellistation workstations and pSeries, p5, iSeries and i5 server families. Armani Exchange, Gianni Versace and Gant U.S.A. into the space and negotiated lease renewals for H. Stern and Cartier. |
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