New York, February 15, 2017 – Cushman & Wakefield announced today that the firm has arranged a long-term, 9,876 square foot lease for Modani Furniture (Modani) at 942 Third Avenue. Cushman & Wakefield Executive Vice Chairman Joanne Podell, along with Senior Director Brandon L. Singer and Associate Mary Clayton led the leasing efforts on behalf of the building owners Naomi and Andre Altholz of 950 Third, LLC.
The modern furniture company will utilize the townhouse’s five floors to operate its Uptown flagship. “This will allow Modani to design an expansive showroom and establish a true flagship store,” said Ms. Podell.
At the prime intersection of the Plaza District, the Design District, and along the “Bloomingdale’s Corridor,” 942 Third Avenue allows Modani prominent visibility in a uniquely positioned corridor. One that is heavily populated for both a residential and an office market. “Modani will amplify the corridor’s already impressive home furnishing roster, which includes Design Within Reach, CB2, Jensen-Lewis Furniture, BoConcept, Ethan Allen, and Cassina,” said Ms. Podell.
Directly next door to 942 Third Avenue, and also being marketed by Podell and team, the Altholz’s own 950 Third Avenue, at the southeast corner of 57th Street and Third Avenue. The building showcases a stunning 6,000 square feet of ground floor retail with exceptional wraparound frontage of over 200 feet and an additional 2,000 square foot storage mezzanine. The retail features the exposure of full glass to ceiling windows across an impressive double-height, 22’ ceiling.
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Cushman & Wakefield is a leading global real estate services firm that helps clients transform the way people work, shop, and live. Our 43,000 employees in more than 60 countries help investors and occupiers optimize the value of their real estate by combining our global perspective and deep local knowledge with an impressive platform of real estate solutions. Cushman & Wakefield is among the largest commercial real estate services firms with revenue of $5 billion across core services of agency leasing, asset services, capital markets, facility services (C&W Services), global occupier services, investment & asset management (DTZ Investors), project & development services, tenant