New Two-Story Glass Storefront Façade and Canopy Recently Completed

Newmark Holdings, a vertically integrated owner, operator, property manager and developer of commercial real estate, announced that popular pharmacy and convenience store Duane Reade has renewed its10-year, 4,800-square-foot retail lease at 322 Eighth Avenue. The 21-story, 175,000-square-foot, mixed-use building is located in the heart of Chelsea.

The announcement was made by Newmark Holdings co-CEOs Brian Steinwurtzel and Eric Gural. Jeff Winick and Louis Eisinger of Winick Realty represented the tenant, while Allen Gurevich, Senior Managing Director of Newmark Holdings, acted on behalf of the ownership.

Newmark Holdings implemented a $4 million capital improvement program to redesign the façade of the first two stories of the building, which resulted in a cohesive glass storefront. The main entrance has also been enhanced with a sculptural canopy.

“Duane Reade’s commitment to 322 Eighth Avenue is indicative of the ownership’s continued investment in the asset,” noted Mr.Gurevich. “Our team worked tirelessly to employ a program that would reimagine the retail storefront and entranceway in a way that would best benefit our tenants and neighbors.”

The building, which houses such notable tenants as JUICE Pharma Worldwide, Pelli Clarke Pelli Architects and The Nature Conservancy, is located in close proximity to Penn Station. 

About Newmark Holdings

Newmark Holdings, led by Jeffrey Gural, Eric Gural and Brian Steinwurtzel, is a vertically integrated owner, operator, property manager and developer of commercial real estate with its 63-year-history of hands-on asset management and portfolio of more than 10 million square feet of commercial properties throughout New York City.