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high-end spa has secured a long-term lease for a substantial space on the far West Side. The 43,000-square-foot property, located at 660 12th Avenue in Hell's Kitchen, will be occupied by the spa across two floors and a wraparound terrace below existing event spaces. The asking rent was $75 per square foot.
The deal was negotiated between Avison Young's Peter Gross and Nicola Heryet representing the landlord, and Kenneth Moore and Loy Carlos of Modernes International Realty representing the tenant. The building is now 95% occupied after a major redevelopment by TF Cornerstone in 2019.
The auto company Bay Ridge Auto Group inked a deal to buy a commercial condo and air rights for $16.6 million in 2013, which enabled them to redevelop the property. The buildout for the spa is expected to take around a year.
