Astor Place Shake Shack going for a beer-wine license

Just a quick follow-up about the 3,000-square-foot Shake Shack coming this fall to the empty retail space at 51 Astor Place/the IBM Watson Building/Death Star...

Team Shack is on the June CB3-SLA committee docket for a beer-wine license for the space...



Select Shacks Shacks serve ShackMeister® Ale, "otherwise known as the ShackBurger’s best friend." It's made in collaboration with Brooklyn Brewery, per the Shacksite. As for wine, Shack Red® and Shack White® by Frog's Leap is available by the glass or bottle.

We'll look at other items on the CB3-SLA docket next week ahead of the meeting on June 12.

A Shake Shack is coming to the Death Star

That empty retail space at 51 Astor Place/the IBM Watson Building/Death Star has a tenant: Shake Shack.

The Post has the scoop:

Danny Meyer’s fast-growing burger chain has signed a lease on Astor Place that will open this fall...

The new location, which will span nearly 3,000 square feet on the northeast side of the building at 51 Astor Pl., “will feature some unique design and customer experience elements,” a Shake Shack spokeswoman confirmed, declining to elaborate.

Until earlier last month, this corner slot on Third Avenue at Ninth Street housed the sales office for hotelier-developer Ian Schrager's hotel-condo tower at 215 Chrystie just below East Houston.

The Shack joins the building's other retail tenants — CVS, Flywheel Sports, Orangetheory Fitness, Bluestone Lane Coffee and Chopt.

According to Lois Weiss at the Post, the Shake Shake team signed a 15-year lease.

The lease memo, reviewed by the Post, provides the Danny Meyer fast-casual joint with the ability to exclusively sell “hamburgers, hot dogs, French fries and frozen custard.”

As such, it banishes direct competitors such as Smashburger and Johnny Rockets from the building.

This will be the second Danny Meyer venture to open on Third Avenue in the coming months. His Union Square Hospitality Group is behind Martina, a pizzeria, in progress on 11th Street at Third Avenue.

A retail vacancy at 51 Astor Place

Back in September 2014, hotelier-developer Ian Schrager became the first ground-floor tenant at 51 Astor Place/the IBM Watson Building/Death Star with the sales office and model apartment for his incoming hotel-condo tower at 215 Chrystie just below East Houston.

That's all built and mostly sold now (just one residence out of 11 left!), so they've packed up and left...



Leaving a nice space for rent on the Ninth Street and Third Avenue side...



There haven't been any for rent signs posted just yet ... and no word on what might be joining the building's other retail tenants — CVS, Flywheel Sports, Orangetheory Fitness, Bluestone Lane Coffee and Chopt.

Thoughts/wishes on a new tenant? Duane Reade? An all-ages venue for unsigned bands?

Previously on EV Grieve:
You can finally shop at 51 Astor Place!

Bluestone Lane Coffee opens next week at 51 Astor Place

This, according to Twitter...

The new #AstorPlace coming so soon. Oh yeah, there's also a #BluestoneLane set to open next week there too... pic.twitter.com/4vCo4mSf33

— Bluestone Lane (@BluestoneLane) March 24, 2016

The cafe/coffee shop is on the Fourth Avenue side next to the front entrance/red rabbit of 51 Astor Place/the IBM Watson Building/Death Star ...


[EV Arrow file photo]

Bluestone also has a location across the street in the lobby of 770 Broadway.

And here's more about Bluestone Lane Coffee via their website:

Bluestone Lane offers a refined product proposition dedicated to producing the highest quality coffee and complimentary foods, delivered in an engaging way. We are focused on creating environments where customers are immersed in the experience and leave feeling like a local.

Bluestone Lane Coffee is influenced from the renowned coffee culture hub of Melbourne, Australia, where premium coffee is a way of life.

With Bluestone's opening, 51 Astor Place will have all its retail slots filled ... alongside Chopt, CVS and Flywheel Sports.

Previously on EV Grieve:
3 retail spaces available at 51 Astor Place (22 comments)

You can finally shop at 51 Astor Place!

3 new retail tenants for 51 Astor Place: Bluestone Lane Coffee, Chop’t and Flywheel Sports

Chopping soon signage up at the Death Star

Here's the Bluestone Lane Coffee signage at 51 Astor Place

Spin cycle: Flywheel Sports opening next month in 51 Astor Place

[Updated] Chopt opens today at 51 Astor Place; free salads in return for a donation

Chopt opens today over at 51 Astor Place/the IBM Watson Building/Death Star ... on the Fourth Avenue side at East Ninth Street...

And the self-described globally inspired salad company has an incentive for people to eat a salad (or salad wrap!) today via their Chopt Gives Day.

Via the EVG inbox...

This Monday, Chopt will open the doors to its new location at 51 Astor Place and give away free salads and salad wraps to all customers in exchange for any donation to their charitable partner Wellness in Schools, a non-profit that promotes healthy eating and environmental awareness to kids in public schools across the US. Hours: 11am - 1:30pm, 6pm - 8:30pm.

And here's a look at the Chopt space...





Meanwhile! As for the other new businesses at No. 51 here in MiSo... Bluestone Lane Coffee is setting up shop next to Chopt ...



Looks as if they have a ways to go before opening...



And the Flywheel Sports looks to be going in right behind the plywood on the southeasterly facing side of the building...



According to Well + Good, the incoming Flywheel will feature a stadium-seating studio with more than 70 bikes. Plus! "[I]t will be the first to introduce a new, instructor-controlled LED lighting system."

Hope that doesn't disturb Watson, deep in thought upstairs.

Updated 5 p.m.

EVG reader Brian Polay shared this photo... showing that folks were lining up for the salad deal today...



Previously on EV Grieve:
3 retail spaces available at 51 Astor Place (22 comments)

You can finally shop at 51 Astor Place!

3 new retail tenants for 51 Astor Place: Bluestone Lane Coffee, Chop’t and Flywheel Sports

Chopping soon signage up at the Death Star

Here's the Bluestone Lane Coffee signage at 51 Astor Place

[Updated] First retail tenant at 51 Astor Place opens on... Sunday

The anticipation builds at 51 Astor Place/the IBM Watson Building/Death Star ... as the CVS debuts on Sunday.

The opening marks the first official retail outlet here in the base of the 13-story, 430,000-square-foot office building. (You can't really count the 215 Chrystie sales office on the Third Avenue side for hotelier-developer Ian Schrager because they don't accept the Discover card.)

The familiar glow of the CVS and Pharmacy letters provide contextual harmony* and a strikingly modernistic dramatic streetscape* for the Fumihiko Maki-designed building that reportedly cost $300 million to develop.



If you need any CVS-type items before Sunday, then you could try the Walgreens or Kmart directly across Astor Place or, perhaps, the Walgreens on East 14th Street and Fourth Avenue … or the Duane Reade locations on East 14th Street and Third Avenue and East 14th Street and Broadway ... or the Duane Reade on Third Avenue and East 10th Street. Or the Duane Reade on Broadway near East 10th Street.

CVS will eventually be joined by three more ground-level businesses — Bluestone Lane Coffee, Chop’t and Flywheel Sports.

Updated:
The Grand Opening has been pushed back to Dec. 18!

Previously on EV Grieve:
You can finally shop at 51 Astor Place!

BREAKING: CVS is the 1st retail tenant for the Death Star! (42 comments)

1st sign of the incoming CVS at 51 Astor Place

CVS has teamed up with Watson, IBM’s supercomputer

3 new retail tenants for 51 Astor Place: Bluestone Lane Coffee, Chop’t and Flywheel Sports

* cut-n-paste from some random architectural reviews

Chopping soon signage up at the Death Star

Exactly one month ago today we heard about the three new retail clients coming to 51 Astor Place/the IBM Watson Building/Death Star — Bluestone Lane Coffee, Chop’t Creative Salad Company and Flywheel Sports.

The first of the incoming trio's signage has arrived on the Fourth Avenue/Astor Place side at Ninth Street this week… Chop't! Per the window dressing, the quick-serve salad place will be "Chopping this Winter." (Wonder if they do firewood too?)



These new tenants will join what's looking like the World's Largest CVS here in MiSo.

Previously on EV Grieve:
3 retail spaces available at 51 Astor Place (22 comments)

You can finally shop at 51 Astor Place!

3 new retail tenants for 51 Astor Place: Bluestone Lane Coffee, Chop’t and Flywheel Sports

3 new retail tenants for 51 Astor Place: Bluestone Lane Coffee, Chop’t and Flywheel Sports

[EVG file photo]

Here's the news via the EVG inbox...

SRS Real Estate Partners announces the signing of three retail transactions at Edward J. Minskoff’s 51 Astor Place. Leases were recently executed with “best in class” operators Bluestone Lane Coffee, Chop’t Creative Salad Company and Flywheel Sports.

These three tenants join CVS at the building, further transforming the Astor Place streetscape and enhancing the amenities for the office tenants and surrounding neighborhood. Only one retail space remains in the 400,000 SF Fumihiko Maki-designed tower.

Here's more about Bluestone Lane Coffee, which has five Manhattan locations:

Bluestone Lane offers a refined product proposition dedicated to producing the highest quality coffee and complimentary foods, delivered in an engaging way. We are focused on creating environments where customers are immersed in the experience and leave feeling like a local.

Bluestone Lane Coffee is influenced from the renowned coffee culture hub of Melbourne, Australia, where premium coffee is a way of life.

The Korean Teachers’ Credit Union now owns 49% of 51 Astor Place, which people still think is in Midtown South

The Real Deal has the story about 51 Astor Place/the IBM Watson Building/Death Star:

The Korean Teachers’ Credit Union recently bought a minority stake in Edward Minskoff’s 51 Astor Place, a deal that values the futuristic-looking Midtown South office property at $600 million. The Seoul-based credit union, which has more than $23 billion in assets under management, paid roughly $113 million to buy a 49-percent stake in the fully leased, 400,000-square-foot building.

Why?

James Yoohoon Jeon of FG Asset Management, which oversees the credit union’s investments in 51 Astor Place, said: "We believe there’s a huge potential for rent increase in Midtown South."

Previously on EV Grieve:
Facebook is moving into the neighborhood; Midtown South expands its boundaries, apparently

Report: Maps show that Midtown South does NOT include the East Village/Astor Place

Death Star inflatable rat attack!

The inflatable union rat is currently perched outside 51 Astor Place/the IBM Watson Building/Death Star ...

EVG correspondent Steven reports that occupant St. John's University is the target... via the District Council No. 9 Painters and Allied trades, who are protesting claims of the school hiring workers and not giving them the wages and benefits that were established in the area by said District Council.



The crew is handing out flyers...



Maybe later the rat and rabbit can mix it up.

Today in $370 million loans

[EVG photo from last fall]

Here's news concerning 51 Astor Place/the IBM Watson Building/Death Star via the Commercial Observer:

Two major lenders took to Astor Place for another mega-deal in the hip college neighborhood.

Bank of America and Barclays provided New York-based Edward J. Minskoff Equities with a $370 million loan on the firm’s 51 Astor Place office tower ...

The real estate acquisition and development firm is using the loan to refinance and pay off construction financing on the office building...

According to estimates, development of the building cost some $300 million. The office part of the building is fully occupied ... with the first retail tenant — CVS, woot — on its way.

What would you do with a $370 million loan?

CVS has teamed up with Watson, IBM’s supercomputer

[Doctored file photo]

Earlier this month, news broke that CVS would be the first retail tenant at 51 Astor Place/the IBM Watson Building/Death Star.

Apparently CVS and IBM's Watson have bigger plans. The Washington Post had the news yesterday:

IBM is teaming with CVS Health to harness the power of the Watson supercomputing brain to transform how the care of patients with chronic conditions is managed.

[T]he companies will work to develop a system that would be able to provide better personalization of care, prevent the use of unneeded and costly interventions, and even predict health declines for a wide range of conditions including heart disease, diabetes and obesity.

Troyen A. Brennan, chief medical officer for CVS Health, said in an interview that no specific product or timeline has been worked out, but that the first stage would be to jointly develop intelligent algorithms and test them to see if they helped improve patient outcomes. He said he was hopeful “realistic interventions” could be identified in one to two years.

In addition, CVS stores, using Watson's POWER7 processors and IBM's DeepQA technology, will be able to reduce the one-hour photo service to .001 seconds.

Previously on EV Grieve:
BREAKING: CVS is the 1st retail tenant for the Death Star! (42 comments)

1st sign of the incoming CVS at 51 Astor Place

Report: Retail announcements likely coming this summer for the IBM Watson building

[EVG file photo]

While the office component of 51 Astor Place/the IBM Watson Building/the Death Star is now fully operational leased, the retail spaces have remained empty for nearly two years. (Well, there is the showroom for Ian Shrager's incoming hotel-condo tower at 215 Chrystie, but that's just temporary. The showroom/sales office, not 215 Chrystie.)

The Real Deal explored some of the reasons why in an article this past week.

Such as!

Listing broker Patrick Smith of SRS Real Estate Partners said that the angular building presented a “bit of a puzzle” in terms of space configuration and said that Astor Place represents an “emerging retail corridor” that is forced to fill the gap between more popular retail destinations such as Union Square and Soho.

But! According to the article, expect to see some activity in this emerging 51 Astor retail corridor soon.

Three of the five retail spaces currently have leases out and they are in active pursuit on the other two — seeking a specialty fitness and a food tenant that sells prepared meals, according to Smith. [Developer Edward] Minskoff claims that Smith’s assessment of the leasing situation is modest, and that they are in fact finalizing leases for 100 percent of the retail space, to be announced within 30 to 40 days.

Previously on EV Grieve:
3 retail spaces available at 51 Astor Place (22 comments)

You can finally shop at 51 Astor Place!

Nope, still not used to it

51 Astor Place aka the IBM Watson Building.

IBM officially opens its Watson division at 51 Astor Place today

[Photo via @IBM back in January when it was stupid cold out]

That's right, IBM opens its new business unit surrounding its "Jeopardy"-ass-kicking super computer at 51 Astor Place — aka the IBM Watson Building.

According to New York Business Journal last evening, this marks "a milestone in the company's $1 billion effort to monetize its cognitive computing power and remake its image for a new era."

The article also notes that 600 employees have moved into the 120,000-square-foot space. You can read more about their offices here. (They have an incubator!)

We're sure we'll see the gang at the Grassroots later. $1 off pints; $2 off pitchers for happy hour!

Previously on EV Grieve:
My dear Watson: 51 Astor Place is now the IBM Watson building

Meanwhile at the IBM Watson building, the Jeff Koons rabbit sculpture has arrived for the lobby

You can finally shop at 51 Astor Place!

The IBM Watson building finally has some (temporary) retail.

On Tuesday, hotelier-developer Ian Schrager unveiled the sales office and model apartment for his incoming hotel-condo tower at 215 Chrystie just below East Houston.

We haven't covered this at all so … we're looking at a 28-floor building due, maybe, winter 2016. There will be 11 residences sitting atop the 370-room hotel.



Per Curbed:

Prices start from more than $7 million for a two-bedroom, half-floor apartment, while the full-floor units on the 30th and 31st floors will be more expensive, naturally. The penthouse, which takes up the whole 32nd floor plus a roodtop deck, will be "in the twenties."

The Real Deal notes that the condo prices are poised to break a sales record for the neighborhood. No kidding.

Anyway, the sales office, on Third Avenue near East Ninth Street, has a model unit with a living room, dining room and kitchen, per Curbed. (Not sure about a bathroom. But ask anyway. Say you had a particularly bad $1 slice. It will be cool.)

Here's a rendering of one of the units…



Head over to Curbed for more details. Also, the Observer.

Because we haven't posted anything about the IBM Watson building in like 3 weeks

The April issue of The Real Deal takes a look at how the leasing came together for 51 Astor Place/the IBM Watson Building … if you're interested …

The building still has some 75,000 square feet to lease … not to mention the three retail storefronts, which total roughly 15,500 square feet.

Developer Edward Minskoff "estimated that the last of the office space would be spoken for in about 45 to 50 days. The building is seeing about five or six tenant showings a week, sources said."

Said Minksoff: "There is an old saying that an ugly building that is 100 percent leased is beautiful, but a beautiful building that is 100 percent leased is gorgeous."

And now we're off to brush up on our old sayings…

Retail spaces still available at the IBM Watson building

Last June, we noted that three retail spaces were available at 51 Astor Place… Meanwhile, earlier this year, several readers noted that the listings ("flagship opportunity!") for the spaces were no longer active on the RKF site … leading some folks (like us!) to figure a retail announcement was imminent.

Apparently not! An EVG reader pointed out that new "retail space available" signs went up the other day at the IBM Watson building (aka, 51 Astor Place, the Death Star).



So while the building may be filling up with tenants, there aren't any takers yet for the retail portion… now being repped by SRS …



Here's part of their marketing materials…



Hey, they left off the Grassroots!

And to end … we'll recap a previous post…

EVG readers shared their thoughts last June on what kind of businesses they thought would lease these retail spaces. Popular answers included bank branch, bank and bank branch.

Previously on EV Grieve:
3 retail spaces available at 51 Astor Place (22 comments)

A record deal at 51 Astor Place (AND STOP CALLING THIS AREA MIDTOWN SOUTH!)

Let's head over to The Real Deal for this story:

Claren Road Asset Management, a credit-focused money manager that is a subsidiary of private equity giant the Carlyle Group, will take the top floor of Edward Minskoff’s 51 Astor Place, The Real Deal has learned. The 25,401-square-foot space was asking a rent of $118 per square foot, a record for Midtown South. Sources familiar with the transaction said that it was likely the priciest per-square-foot deal struck in the neighborhood.

With this lease, 51 Astor Place/DeathStar/the IBM Watson building is now 85 percent, uh, leased.

Now can we look at a map please. Oh, here is an official one from the city of New York.



OK, you see where Midtown South is on the map? And you see this neighborhood?



Anyway, everyone knows that this area is known as WeAs (West of Astor) or LeLa (left of Lafayette Street, depending on which way you are facing).

Previously on EV Grieve:
Report: Maps show that Midtown South does NOT include the East Village/Astor Place

What are these workers painting inside the retail space at the IBM Watson building?

Yes, the headline is the question! EVG regular William Klayer caught this action yesterday afternoon inside 51 Astor Place (aka, the IBM Watson building), where "they were painting like mad."

Hmm. What do you suppose is inside this new yellow box thing? (Something for the rabbit?)

Meanwhile, several readers have pointed out that the listings ("flagship opportunity!") for the three ground-floor retail spaces are no longer active on the RKF site. So perhaps a retail announcement is imminent.

EVG readers shared their thoughts last June on what kind of businesses they thought would lease these retail spaces. Popular answers included bank branch, bank and bank branch.

Previously on EV Grieve:
3 retail spaces available at 51 Astor Place (22 comments)