Paul Andrew Design LLC and Think Pink Nails Recommit to the 52,845 Square-Foot Tower
ATCO Properties & Management announced today that two retail tenants have signed long-term lease renewals totaling 5,810 square feet at 41 West 58th Street, an 11-story, 52,845 square-foot luxury residential tower in Midtown.
In the first transaction, upscale footwear retailer Paul Andrew Design LLC has recommitted to its 3,560 square-foot space on the ground floor of the building for a three-year term. Also signing is Think Pink Nails, which has renewed its 2,250 square-foot lease for another 10 years.
“We are delighted that these fine retailers will extend their leases at 41 West 58th Street,” said Kate Goodman, co-president at ATCO Properties & Management, noting that the stores will continue to benefit from strong shopper traffic on Fifth Avenue and the office population on Sixth Avenue.
ATCO Brokerage Services represented ownership in-house and the tenant in both transactions. For more information on ATCO, please contact www.atco555.com.
About ATCO
ATCO is a real estate investment and ownership platform deploying capital in select cities across the United States, with a particular emphasis on value-add opportunities.ATCO is currently deploying capital through a joint venture program with family offices and other private capital, focused on urban office and retail properties.Target markets include the Central Business Districts of Austin, Nashville, Charlotte, and Raleigh-Durham-Chapel Hill, and the metro New York area.
For over eight decades, ATCO has owned, managed, and developed a diverse real estate portfolio, primarily in and around New York City, and provided a range of services to other real estate owners. The company is in its fourth generation of family ownership, and ATCO presently owns and manages more than 20 buildings ranging from high-rise office and residential towers to retail properties, from one-story industrial structures to high tech flex buildings. The portfolio of New York City properties includes: 555 Fifth Avenue, 40 Central Park South, 41 West 58th Street, 630 Third Avenue, 381 and 373 Park Avenue South, 515 Madison Avenue and the Atlas Terminals. Nationally, the company owns properties in Austin, Texas; Chapel Hill, North Carolina; Indianapolis, Indiana; Darien, Stamford and Westport, Connecticut; Baltimore, Maryland; and Orlando, Florida. Internationally, ATCO has investments in seven European countries.
