THE PLAN

5 BRYANT PARK

Variously utilized in the past at a bank and a Staples location, the 40,000-square-foot, two-level retail space at 1065 Avenue of the Americasrebranded 5 Bryant Parkhas been subdivided into seven separate retail spaces. Ranging in size from approximately 2,000 square feet to nearly 19,000 square feet, the spaces are suited to a number of different uses, from restaurants to financial services. Patrick Smith of SRS Real Estate, who is marketing the retail space on behalf of Equity Office Partners, spoke with The Commercial Observer last week about the repositioning of retail at the property and how each space suits the market. Equity Office came up with a scheme with architect Dan Shannon to re-skin the retail and reposition the retail in sizes and configurations that were reflective of market demand, Mr. Smith said.
Space A, which has close access to the subway, has been earmarked as a space for nancial services, according to Mr. Smith. Banking in general has become a hybrid of banking and nancial services, he noted. The size of that space, the location right on the subway and the fact you can brand that corner begets nancial services.

Retail space G, with 4,135 square feet on the ground level and 2,500 square feet in the basement, has been set aside for a restaurant user. That 4,400- to 4,600-square-foot size is fast casualtwo meals a dayas opposed to ne dining.

Tenants have already secured spaces E and F at 5 Bryant Park, with Organic Avenue taking the 1,450 square foot E block and Blink Fitness committing to the two-level F space. The health club will enjoy more than 18,000 square feet of space on the basement level.

Each space will be delivered white box, and tenants could take possession as early as next year. We could conceivably deliver the space in the rst quarter of 14 but more likely second quarter, Mr. Smith said.

Retail spaces B, C and D range in size from 1,970 square feet to 2,340 square feet. Those spaces are ideally suited to shoe, accessory and apparel retailers. That corridor doesnt have smaller spaces, Mr. Smith noted.

Last month, the vacant groundoor retail space hosted ArtBattles, a competitive art organization. Four graffiti artists painted a 25-foothigh mural in the space, which Mr. Smith would like to see stay. I would love to have a tenant that would come in and use it, but my guess is people wont have the vision or the foresight, he conceded, adding that the mural will likely be painted over.

46|DECEMBER 10, 2013|COMMERCIAL OBSERVER