ATCO Inks New Manhattan Retail Lease

By Corina Stef

240 W. 35th St., New York City

ATCO Properties & Management has signed a 12-year, 5,181-square-foot retail lease with Café Metro at the Mary McFadden Building in Manhattan. The tenant, a fast-casual restaurant chain, will open its doors in February 2018.

The 18-story, 165,000-square-foot property is located at 240 W. 35^th St., in the Garment District, and includes 9,500 square feet of retail space, Yardi Matrix data shows. ATCO purchased the building in 2016, and renovated it through a capital improvement program that included a new lobby and common corridor, and sidewalk upgrades.

Notable tenants include Newsday, Fidelus Technology, the Spanish American Institute, as well as multiple fashion designers such as Jason Wu, Thom Browne and Reem Bridals. The transit-oriented asset sits close to Penn Station and Herald Square and is bounded by retailers, restaurants, hotels, entertainment options and an array of services.

Newmark Knight Frank Retail’s Stu Morden and Lucas Kooyman acted on behalf of the tenant, while the landlord was represented in-house by President of Brokerage Services John Cinosky.

Image courtesy of Yardi Matrix