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Riverbank Realty closes $10M in retail leases.

Riverbank Realty Company has completed several Manhattan retail deals with a combined aggregate rental value in excess of $10 million, it was announced by Gene Meer, the firm's executive vice president and director of the retail services department.

Wendy's, one of the nation's more rapidly growing fast food chains, will be opening in 957 Third Avenue, between 57th and 58th Streets. The company has leased 5,000 square feet for the restaurant. According to Meer, the long-term deal is valued at over $6 million.

In addition, Meer has completed leases for two international companies which will be entering the New York market for the first time. In a 10-year transaction, Bodum will be opening a store in 673 Madison Avenue on the northeast corner of 61st Street. The aggregate rental is valued at over $2.5 million. Bodum is a Danish companies with retail locations in the United Kingdom, Switzerland, France and the Netherlands. 673 Madison will be its first flagship store in the U.S. Bodum is a manufacturer and retailer of home products and fine coffees, with products that are currently sold in major department stores across the United States.

Meanwhile, Baratti Milano has leased a store at 699 Madison Avenue between 62nd and 63rd Streets. Baratti Milano, a fine purveyor of gourmet foods, will be opening a confectionery boutique serving teas, coffees, chocolates and pastries, as well as selling its own assortment of packaged products. According to Meer, Baratti Milano has completed a long-term lease valued at over $2.5 million.
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Title Annotation:$10 million
Publication:Real Estate Weekly
Date:Aug 12, 1992
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