147 &150 Beach 116th Street NEW YORK 11694
Lee & Associates NYC is proud to offer approximately 20,000 SF of retail for lease on Rockaway Park’s historic Beach 116th. TaBLE OF CONTENTS
147 & 150 BEACH 116TH STREET
Section One ABOUT THE DEVELOPMENT
Section Two Property Description
Section Three Market Overview ABOUT THE DEVELOPMENT
147 & 150 BEACH 116TH STREET About the development SEASIDE LANDING, the Marcal Group’s complete redevelopment of 240,000SF, is comprised of 250 market-rate residential condominiums. This development is a new leader in the transformation of Beach 116th, adding 20K sf of new retail to this reemerging market that encourages new potential business to be captured in The Rockaways. Area description: Rockaway Park is situated on the Rockaway Peninsula between the Atlantic Ocean and Jamaica Bay. Easily accessible by all boroughs, this area has experienced a resurgence of interest by individuals and families who want to experience the lifestyle of an urban coastal community. Retail space is one block from the A-train stop and steps away from the Atlantic Beach and the Rockaway Peninsula Boardwalk.
147 & 150 BEACH 116TH STREET ABOUT THE DEVELOPMENT PROPERTY DESCRIPTION
147 & 150 BEACH 116TH STREET
147 B 116 150 B 116 150 BEACH 116th
150 Beach 116th: 2800 SF with 12’ ceilings and 32’ of frontage 150 Beach 116th: 2900 SF with 12’ ceilings and 30’ of frontage
COMMERCIAL 2,795 SF
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St r h t 116
COMMERCIAL Bea ch 2,877 SF
147 & 150 BEACH 116TH STREET PROPERTY DESCRITION 147 BEACH 116th
147 Beach 116th: Up to 7500 SF with 15’ ceilings and 90’ of frontage 147 Beach 116th: Up to 6800 SF with 15’ ceilings and 71’ of frontage
RETAIL #1 3,060 SF
RETAIL #2 2,233 SF
RETAIL #3 1,565 SF
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RETAIL #4 e 1,122 SF e
St r h t 116
RETAIL #5 Bea ch 1,982 SF
RETAIL #6 2,245 SF
RETAIL #7 2,533 SF
147 & 150 BEACH 116TH STREET PROPERTY DESCRITION BEACH 97 th ST
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1 2 3 rd ST BOARDWALK BEACH 124 th ST FLIGHT 587 OCEAN PARK MEMORIAL BEACH 125 BEACH ATLANTIC
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147 & 150 BEACH 116TH STREET PROPERTY DESCRITION
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147 & 150 BEACH 116TH STREET The Boardwalk Retail cannot ignore the importance of the Originating in Wall Street, and stopping boardwalk to Rockaway Park. At 5.5 miles, only once in Brooklyn, the ferry will it lays claim to the longest contiguous terminate two blocks from Seaside Landing. boardwalk in the nation. It is an economic This ferry service will be a game- and recreation artery connecting the changer in that it will introduce Rockaway entire region, and it just received a well- Park to a Manhattan based demographic deserved $480million restoration by the that previously avoided the area due to limit- New York City. This restoration was ed transportation options. This demographic completed in the summer of 2016, is younger and wealthier and sure to boost and it celebrated by hosting over the region’s economic activity. 7million visitors. Demographics Transportation The retail at Seaside Landing will service Today, commuters rely on The A-train, a population of approximately 30,000 and Q22/23 bus lines. The A-train’s Beach residents with an average household size of 116th stop experienced a 97% weekday 3 and average income of over $110,000. ridership increase between 2014-2016. The property is bordered on the west by The average ridership increase for all A-train Belle Harbor and Neponsit -- tight-knit stops in the area during this period is 110% communities where home prices range between 850K-3million. East of Seaside In 2017, visiting and living in Rockaway Landing—Rockaway Beach & Arverne—has will become even easier thanks to a been quickly gentrifying. These neighbor- citywide ferry service. For the cost of a hoods have experienced an influx of young, subway fare, this ferry will shave a full hour first-time homeowners looking to start from a round-trip commute. families and businesses.
Market research shows the Rockaway Park region is under-serviced with a total Trade, Food, and Drink retail potential of over $316,000,000.
147 & 150 BEACH 116TH STREET MARKET OVERVIEW 147 & 150 BEACH 116TH STREET MARKET OVERVIEW MARKETING TEAM
GARY STEINBERG Managing Director & Principal 212.776.1285 [email protected]
JAIME SCHULTZ Director 212.776.1253 [email protected]
JEFFREY LOPEZ Associate 212.776.4315 [email protected] 147 &150 Beach 116th Street NEW YORK 11694