(Christian Johnston)
After months of negotiations, Dick’s Sporting Goods has walked away from a fully negotiated deal with Malkin Holdings for 56,000 square feet at 1333 Broadway in Herald Square.
“This is a phenomenal location with outstanding visibility between Macy’s and Duane Reade flagship stores, and we already have activity,” said Anthony Malkin, the president of the company.
Patrick Smith of SRS Real Estate Partners, who has been representing Dick’s in its search, did not return a call for comment. But several sources said Dick’s has pulled all the deals it was working on.
The Pittsburgh chain, which has been in expansion mode the last few years, recently opened in White Plains and in Yonkers, where guns and ammo are not sold.
At the end of July, Dick’s had 490 Dick’s Sporting Goods stores in 44 states, with plans to open 38 more this year.
Executives at the company did not respond to requests for comment.
Malkin’s Herald Square retail was previously occupied by Conway Stores and drew big-box retailers that toured the space. The overall asking rent for the entire space is around $112 per square foot, with $300 per square foot for the ground floor.
Nearby, Malkin said his firm will also begin marketing 158,863 square feet at 112 W. 34th St. that can be divided into two stores with high ceilings over four floors and a lower level.
The assignment will be handled by Joanne Podell of Cushman & Wakefield. Pricing is not been established.
“This is a seven-day-a-week shopping street with destination retail everywhere,” said Malkin. “This is a real opportunity.”
But the former Woolworth space, now a Foot Locker, won’t be available until its lease runs out in 2016.
“It’s not that far away,” said Malkin.
Stay tuned.
Dick’s had been vacillating between 1333 Broadway and 3 Columbus Circle, owned by a venture of SL Green Realty Corp. and Joseph Moinian, where 29,000 square feet has long been available on the ground and second floors.
The space is now being marketed by Winick Realty for the owners. Steven Durels of SL Green declined comment on whether or not a deal with Dick’s was still in the works.
In the last few months, the other 3 Columbus-based retailer, Daffy’s, declared bankruptcy. Aurora Capital is now marketing its 23,250 square feet on two levels for $3.2 million per year, according to a CoStar listing. That lease runs to 2017 and has a five-year option.
With Nordstrom’s slated to open across Broadway in the base of the new Extell Development project, and the Shops at Time Warner a proven success, more upscale retailers may begin to circle the Circle.
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La Perla is leasing 1,600 square feet at 430-434 W. Broadway, while Staff USA has also leased 3,600 square feet to operate a Just Cavalli store.
La Perla was represented by Victor Fandel of Fandel Retail Group, and Staff USA was repped by Joel Isaacs of Isaacs and Co.
Karen Bellantoni of RKF represented the Laboz family of United American Land, which own the property and had an asking rent of $400 a square foot.
La Perla will be relocating from its current location on Greene Street.
Just Cavalli has had sales in pop-up locations and within other stores, but this will become its city flagship.
United American Land has also just leased a 1,500 square-foot store to young fashion designer Pamela Gonzales at SoHo Mews at 311 W. Broadway, where Justin Timberlake has an apartment.
The store, designed by Romina Gonzales, will use glass mannequins and be decorated as a gallery with blown-glass sculptures.
The asking rent was $150 per square foot, said Albert Laboz, president of United American Land. Laboz also raved about the restaurant Jezebel, which opened last year in the company’s 323 Broadway.
“It’s a hip restaurant that happens to be kosher,” said Laboz.
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The newly constructed 98-unit Mantena rental building at 431 W. 37th St. between Ninth and Tenth avenues was quietly purchased by Equity Residential last Friday.
The asking price had been $90 million, which equates to $918,000 per unit, but no final cost was available.
Sources said the Hudson Yards area project was marketed by Andrew Scandalios of HFF for an affiliate of Joy Construction, which developed the project with Karl Fischer as the architect. Designer Andres Escobar worked on interiors and amenities including a billiards room, roof deck, yoga studio and children’s library.
According to a source at the building, who declined to be identified, the building is about 85 percent leased up with several one and two bedrooms now available for rent starting at $3,740 per month.
Neither a spokesman for Equity Residential, nor Scandalios nor Joy’s CEO, returned calls for comment.