Lee NYC to Lease Redeveloped Victoria Theater’s Retail Component
- Jun 20, 2018
Lam Group and Exact Capital have tapped Lee & Associates NYC to handle leasing for the 23,199-square-foot retail portion of the redeveloped Victoria Theater in Manhattan. The joint venture kicked off the construction process in April 2017, with the space being slated for completion in summer 2019. Ariel Aufgang handles the design services.
The property will offer a total of 400,000 square feet of space, including 191 mixed-income units, a 210-key Marriott Renaissance hotel, as well as a black box theater and performing arts center comprising 25,000 square feet, leased to the Apollo Theater. The retail space will feature LED signage along 125th Street.
Situated at 233 W. 125th St., in the borough’s Harlem neighborhood, the property is close to multiple subway and bus stations. Nearby amenities include eateries, retailers, sports clubs, fitness centers and accommodation options.
Lee & Associates NYC Executive Vice President & Principal Mark Kapnick and Executive Managing Director Stanley Lindenfeld will lead leasing and marketing efforts. The retail component will encapsulate 7,189 square feet of first-floor and a 16,010-square-foot, second-floor vacancy.
The property was originally built in 1917 as a vaudeville house. The owners plan to keep the building’s historic details including its facade, lobby, marquis and signage. Victoria Theater has become a historical landmark, outlining an artistic movement known as Harlem Renaissance alongside the nearby Alhambra, Apollo and Hammerstein Opera House.
“With the expansion of Columbia University, City University of New York and the massive influx of shopping and residential buildings to the 125th Street area, this project presents retailers with the perfect blend of old and new: a beautiful, historic building in the heart of a revitalized neighborhood,” Kapnick said in a prepared statement.
Image via Google Street View