ARORA - L’art Du Cocktail Leases Retail Space At 505 Park Avenue In Upper East Side

The retail space located at 505 Park Avenue in the Upper East Side has been leased. The lease was signed in September 2021. The asset spans 2,000 square feet and is owned by Glorious Sun. The tenant for the space is ARORA - L’art Du Cocktail. The tenant was represented by Corey Shuster, Arthur Maglio, and Diana Zisholtz of the MSZ Commercial Team at Douglas Elliman. On the other hand, the landlord, Glorious Sun, was represented by Michael Azarian and James Ariola of Cushman & Wakefield. The asking rent for the space was $195 per square foot.

Summary of transaction details

• Property Type: Retail
• Transaction Amount: Lease
• Address: 505 Park Avenue, Upper East Side
• Tenant: ARORA - L’art Du Cocktail
• Tenant's Representative: Corey Shuster, Arthur Maglio, and Diana Zisholtz (The MSZ Commercial Team) - Douglas Elliman
• Landlord: Glorious Sun
• Landlord's Representatives: Michael Azarian and James Ariola - Cushman & Wakefield
• Asking Rent: $195/ft.
• Square Footage: 2,000

Corey Shuster, Arthur Maglio, and Diana Zisholtz from the MSZ Commercial Team at Douglas Elliman played a crucial role as the tenant's representatives for ARORA - L’art Du Cocktail in this lease deal. Meanwhile, Michael Azarian and James Ariola from Cushman & Wakefield represented the landlord, Glorious Sun. It is worth noting that this transaction provides an opportunity for ARORA - L’art Du Cocktail to establish its presence in the retail market on the Upper East Side.