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Riverbank in $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.

Dress Barn, Inc. has signed a long-term retail lease in 747 Third Avenue. Gene Meer handled the transaction and reported the 5,000-square-foot lease was worth over $6 million in aggregate rental. The location, Third Avenue at the corner of 47th Street, will serve as a flagship store for Dress Barn.

In addition, Meer announced that Riverbank represented Swatch Fifth Avenue, a licensee which has recently opened a boutique at 500 Fifth Avenue. The 15-year lease was reportedly valued in aggregate rental at more than $2.4 million. Nevin Danziger was the broker in this transaction. Swatch Fifth Avenue is located on Fifth Avenue at 42nd Street and is adjacent to Nat Sherman Tobacconist.

Other notable retail deals were concluded by Riverbank and achieved a combined aggregate rental of approximately $2 million. Zig Zag Jewelers recently signed a 10-year lease at 1336 Third Avenue at 77th Street. I Can't Believe Its Yogurt opened a Greenwich Village store at 462 Sixth Avenue and signed a seven-year lease for the street level and basement space. The Nutritional Mart, a full line health food store, has signed a 10 year lease at 388 Second Avenue. Nevin Danziger was the broker in these transactions.
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Title Annotation:Riverbank Realty
Publication:Real Estate Weekly
Article Type:Brief Article
Date:Mar 18, 1992
Previous Article:Richard Rosan named EVP of Urban Land Institute.
Next Article:James D'Agostino.

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