A&G Realty Partners Retained by Gracious Home to Manage Sale of Lease For Retailer's Store in Manhattan's Chelsea Area
--Chapter 11 sale offers below-market rate lease in prime NYC location
MELVILLE, N.Y., Jan. 3, 2017 /PRNewswire/ -- A&G Realty Partners, a leading commercial real estate, advisory and investment group, today announced that it has been retained by Gracious Home to manage the sale of the lease for its 17,000-square-foot store in Manhattan's Chelsea neighborhood, following the retailer's recent Chapter 11 bankruptcy filing.
"This sought-after location with 70 feet of frontage on 25th St. and a rent which is substantially below market, has really started generating good interest," said Andy Graiser, Co-President of A&G Realty. "The Chapter 11 process moves fast and creates a great opportunity for retailers to open in one of the more desirable retail corridors in New York City."
A&G Realty is currently accepting bids on the lease for the fully built-out space, which has 8,500 square feet at street level and 8,500 square feet on the lower level. Located between Broadway and Sixth Ave., the store adjoins CVS and Fairway Market.
Bids are due no later than 10:00 a.m., Friday, January 27.
For complete information on the Gracious Home location, please visit:
www.agrealtypartners.com.
Gracious Home filed for Chapter 11 Bankruptcy Protection on Dec. 14, 2016 in the U.S. Bankruptcy Court, Southern District of New York (Bankruptcy Petition #16-13501).
About A&G Realty Partners
A&G Realty Partners specializes in real estate dispositions, lease restructurings, facilitating growth opportunities, valuations and acquisitions. A&G Realty clients include some of the nation's most recognizable retail brands in healthy and distressed situations. A&G Realty is a leader in finding innovative ways to consolidate and reconfigure real estate to achieve the highest possible value. A&G Realty was founded in 2012 and headquartered in Melville, N.Y., with offices in Chicago and Los Angeles. For more information, please visit www.agrealtypartners.com.
SOURCE A & G Realty Partners
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