Fishel & Cohen Team Lease Multiple Spaces At Manhattan’s Hottest Commercial Property, Renaissance Properties 166 Crosby Street
The father-son team of Kenneth and Bradley Fishel of Renaissance Properties continue to lease space in a re-awakening New York City. With the assistance of the Cohen Team at Newmark, the Fishels have leased significant space across their portfolio.
Prior to the arrival of the virus, the Fishels’ buildings were almost fully leased. During the devastating impact of the virus, the Fishels formulated a plan to re-lease their new vacancy as if they were going to war. The first step was to assemble their army, which included architects, design professionals, public relations, and a contingent of contractors available to get to work right away.
Their battle plan included restoring their historic spaces to pristine condition, showcasing their natural materials and highlighting the numerous operable monumental windows in each space. Next, they constructed a smattering of pre-built offices in diverse sizes that invited tenants to move in quickly. Prices for the pre-built and the open plan loft spaces were adjusted in line with the market to be competitive and attractive for leasing.
The Cohen team then got to work to show the spaces and successfully leased them. If a prospective tenant indicated they needed a change or addition within the space, the brokers promptly contacted the owners and replied to the tenant immediately.
“We’ve leased to great tenants,” says Bradley Fishel. New leases include Nice Shoes, The Lede Company, Galileo, Healthquarters, NotCo, Bevel PR and Serengeti Asset Management at 166 Crosby Street for a combined 64,534 SF. “We just built a $2 Million incredible lobby on Crosby Street, which features Joe Coffee, lounge seating, and a bike room. There’s nothing else like it in this market.”
At their other buildings, the Fishel-Cohen partnership is enjoying similar leasing success. “The Fishels spend money. Period. It shows in their product. Their timeliness, flexibility, and inventiveness are best in class. Tenants have choices and there is a flight to quality in this type of market. The Fishels have all that it takes to get the deal done.” says JD Cohen from Newmark.
“We’ve kept the best space for last,” said Kenneth Fishel. At 166 Crosby Street we have the most spectacular space within the downtown market. The space features 36 perimeter windows in a
perfectly rectangular classic loft that soars above neighboring buildings. The Fishels are waiting for the “right tenant” to make an offer on the space: “We’ll do whatever we need to do for the right tenant,” adds Fishel.
