More betrayals are about to happen on the Upper West Side.
Acupuncture studio and wellness brand WTHN has signed a lease for 3,600 square feet in a new location in the following residential building: 69 West 71st Streetaccording to the broker brand urban. The company will occupy his 2,100 square feet of retail space on the building’s first floor and an additional 1,600 square feet of retail space on the lower floors.
Taryn Brandes and emily green Brand Urban represented WTHN in the lease transaction; harrison abramowicz, michael pastor and Jason Pluger of Newmark Landlord, locksmith agent cosmic fisher under LLC 71st Real Estate Associates.
Brand Urban did not immediately disclose other terms of the deal, but one source said the average asking rent for retail space on the Upper West Side is $291 per square foot in the first quarter of 2024. It is said that it was. cushman & wakefield report.
Scheduled to open later this year, the new West 71st Street store will be WTHN’s third location in New York City, joining its other stores in the Flatiron District. 20 West 22 Street And in Williamsburg, Brooklyn, 97 North 10th Avenue. Located just one block from the Columbus Avenue retail corridor, WTHN’s West 71st Street store will join other nearby stores focused on wellness. heyday, vernal equinox and juice press.
“The Upper West Side has become a key target market for luxury service brands in the health and wellness space,” Brandes, founder of Brand Urban, said in a statement. “With a significant void in the market compared to the Upper East Side, this location presents a real opportunity to cater to an untapped market seeking a more elevated and accessible wellness experience.”
Mr. Abramowitz, Mr. Pastor and Mr. Pflueger did not immediately respond to requests for comment.
In the first quarter of this year, rents for commercial properties in Manhattan rose an average of 7.2% compared to the same period last year, although they were about 15% lower than the average for the first quarter of 2019, according to a recent study. Cushman & Wakefield Quarterly Report.
Nick Trombola can be contacted at: ntrombola@commercialobserver.com.
