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Two Times Square offers bi-level retail location.

Two Times Square offers bi-level retail location

A new bi-level retail location in Manhattan's Times Square will open this winter opposite the district's well known "Broadway Tickets" booth, according to its developer, Sherwood Equities.

Called Two Times Square, the sleek black-glass tower now is leasing 30,000 square feet of prime retail space on a block bordered by 47th and 48th Streets, Broadway and 7th Avenue, says Jeffrey Katz, president of Sherwood Equities.

"The site, on the first two levels of a luxury hotel, offers an exceptional 500 feet of street-level frontage, and soaring 20foot ceiling and exterior-glass heights," Katz notesd "Combine this with its recognition worldwide, and the result is an extraordinary opportunity for retailers."

In the heart of New York's major entertainment and tourist district, Two Times Square is at the former location of the Castro Convertible store.

Sherwood Equities is leasing the space in parcels ranging from 300 square feet to the entire 30,000 square feet.

Already, corporate giants Coca Cola, Suntory and Samsung have leased three of the building's five supersign spaces.

"In addition to these south-facing signs, the project's unique design offers dynamic avenue signage space, which pivots to ensure maximum visibility," Katz said.

New World Development Corporation is leasing the hotel portion of the building for its 315-key, 25-story, flagship Ramada Renaissance hotel.

Its guest rooms will occupy floors five through 25. The third floor will feature the hotel's front-desk area and tower-elevator lobby; a full-service, 67-seat dining facility; and a 65-seat skylit lounge overlooking Times Square. The fourth floor includes 2,000 square feet of meeting space, an 800-square-foot health club, and a full-service business center.

Occupancy for the hotel and for the retail space is slated for December.

The architects for Two Times Square are Mayers & Schiff, design architect, and Costas Kondylis, architect. Construction manager is HRH Construction Corporation.
COPYRIGHT 1991 Hagedorn Publication
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1991, Gale Group. All rights reserved. Gale Group is a Thomson Corporation Company.

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Publication:Real Estate Weekly
Date:Sep 11, 1991
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