Abel Richard Secures Retail Lease At 7 West 57th Street From Soloviev Group For 15 Years

The retail asset located at 7 West 57th Street is part of The Rian, a new development in Midtown, Manhattan. The space, featuring 6,327 square feet and 17.5' ceilings, is being leased at an asking rent of $300 per square foot. The lease agreement spans 15 years and includes nine months of free rent, with no tenant improvements specified.

Summary of transaction details:

• Property Type: Retail
• Transaction Amount: $300/ft
• Lease Term: 15 years
• Landlord: Soloviev Group
• Tenant: Abel Richard
• Broker: Lauren Weiner - Atlas Real Estate New York
• Square Footage: 6,327 SF
• Free Rent: 9 months
• Ceiling Height: 17.5'
• Address: 7 West 57th Street
• Market: Midtown, Manhattan

Lauren Weiner, representing Atlas Real Estate New York, facilitated the leasing transaction for the tenant Abel Richard and landlord Soloviev Group. This marks the first tenant to occupy the space in The Rian luxury rental building.