Newmark Knight Frank (NKF) is pleased to announce that it has successfully completed a new ten-year lease for Venchi at 861 Broadway in Manhattan’s prime Union Square location. NKF Executive Managing Director Ross Kaplan and Associate Derek Koelsch negotiated the deal on behalf of the tenant. Venchi’s lease comprises approximately 3,000 square feet— 1,500 square feet of ground floor space and 1,500 square feet of basement space.
Venchi, an Italian world-renowned gourmet chocolatier, is increasing its US retail footprint.The new lease at 861 Broadway, a unique, landmarked building, sits on Broadway between 17th and 18th street near the trendy Union Square/Flatiron District and surrounded by numerous luxurious boutiques, restaurants and galleries. Venchi will be a complimentary addition to the array of dynamic retailers in the lively neighborhood including Scotch & Soda, Innisfree, Dr. Martens, Blue Mercury, Paragon Sporting Goods, SoulCycle and Fresh. Notable restaurants include ABC Kitchen, Gramercy Tavern and Union Fare.
“Union Square was a natural fit for Venchi,” commented Kaplan. “The premier location of Venchi is highly accessible surrounded by multiple subway lines, tons of foot traffic and a diverse mix of office, residential and dynamic retail, which makes this a prime spot for their first US standalone store. We look forward to expanding Venchi’s footprint.”
Venchi, which has stores in over 70 countries worldwide, is expanding its brand in both New York as well as across the country. Their grand opening is planned for November 2018.
About Newmark Knight Frank
Newmark Knight Frank, operated by Newmark Group, Inc. (NASDAQ: NMRK), is one of the world's leading and most trusted commercial real estate advisory firms, offering a complete suite of services and products for both owners and occupiers. Together with London-based partner Knight Frank and independently-owned offices, NKF's 16,000 professionals operate from approximately 430 offices on six continents. NKF’s investor/owner services and products include investment sales, agency leasing, property management, valuation and advisory, diligence, underwriting, government-sponsored enterprise lending, loan servicing, debt and structured finance and loan sales. Occupier services and products include tenant representation, real estate management technology systems, workplace and occupancy strategy, global corporate services consulting, project management, lease administration and facilities management. For further information, visit www.ngkf.com. Newmark Group is a publicly traded subsidiary of BGC Partners, Inc. (NASDAQ: BGCP), a leading global brokerage company servicing the financial and real estate markets.
