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Posted: November 19, 2019
Savanna completes two retail leases totaling 4,522 s/f at The Lee Building, 1825 Park Ave.
Manhattan, NY Savanna has leased over 4,522 s/f of retail space at 1825 Park Ave., also known as The Lee Building:
- Zaro’s Bakery has signed a new 15-year lease for 1,387 s/f on the ground floor and 735 s/f of sub-level space. Jedd Horn and Chris Mombello of Colliers International represented Zaro’s.
- JPMorgan Chase Bank renewed the lease for its 2,400 s/f ground-floor branch for an additional five years.
“We are proud to welcome Zaro’s Bakery, a well-respected New York bakery with a long history of serving the city, and to be able to renew our lease with JPMorgan Chase, a high-quality tenant that has been at 1825 Park for over 10 years,” said Cooper Kramer, managing director of Savanna. “The property’s desirable Harlem location and the capital improvement program we recently implemented continue to drive strong interest from a diverse mix of tenants. Both Zaro’s and JPMorgan Chase will serve as important amenities for the surrounding neighborhood as well as the office tenants upstairs.”
In the past year, Savanna completed office leases with Grant Associates and Carver Bank, bringing 1825 Park Ave. to 70% occupancy. Savanna also completed a capital improvement plan at the property, including new retail storefronts, lobby and entrance, refurbished bathrooms, new windows, HVAC and electrical upgrades, and a tech infrastructure that made the property the first Wired Certified Gold building in Harlem.
The building is on the northeast corner of 125th St. and Park Ave., adjacent to Metro North’s 125th St. stop and close to the 4, 5, and 6 subway lines.
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