Monday, July 30, 2018

Former Santander space for lease on Avenue A

This Santander branch closed at the end of April here on Avenue A at Fourth Street (southwest corner). And the for rent signs finally arrived late last week.

According to the listing via Newmark Knight Frank, "dry uses" are preferred...

The listing notes that the neighboring tenants are the coming-soon Equinox next to Katz's, Blink, New York Sports Club and Duane Reade.

The asking rent is $95 a square foot for the 3,700-square-foot space.


Anonymous said...

$ 95.00 x 3,700 = $351,500 per month

$351,500 x 12 ( months ) = $4,218,000.00

Totally absurd.

DrGecko said...

Absurd enough to suspect a misprint for $9.50/sq foot.

7 said...

I believe commercial rates are listed at annual rates per sq ft, not monthly.

DrGecko said...

Ah, that would be $29,292/month, which seems less hallucinogenic.