Chinatown Office Space Leased for $300,000 Annually to The M Jewelers
Cushman & Wakefield brokers lease deal for 5,000 SF office space at 243 Canal Street in Chinatown to The M Jewelers for $60 per square foot.
Chinatown’s commercial real estate market continues to attract tenants looking for affordable office space in Manhattan. The latest deal involves The M Jewelers, a luxury jewelry retailer that has signed a lease for a 5,000 square foot office space at 243 Canal Street. The space was previously occupied by a law firm and was listed for $60 per square foot. The lease deal was brokered by Cushman & Wakefield, with the landlord, City Urban Realty, represented by Jamie Katcher, Douglas Regal, and Sebastian Infante. The tenant, The M Jewelers, was represented by Jeremy Aidan.
The property at 243 Canal Street is a six-story building with a total of 30,000 square feet of space. The building was constructed in 1920 and has undergone several renovations over the years. The office space leased by The M Jewelers is located on the second floor and features high ceilings, large windows, and hardwood floors. The space is ideal for a luxury retailer like The M Jewelers, which requires a large showroom and office space to showcase its products and meet with clients.
Chinatown’s commercial real estate market has been growing in recent years, as more businesses look for affordable office space in Manhattan. The neighborhood offers a unique mix of old-world charm and modern amenities, making it an attractive location for businesses of all sizes. The area is home to a diverse range of businesses, including restaurants, retailers, and tech startups.
The lease deal for 243 Canal Street is a testament to the strength of Chinatown’s commercial real estate market. The M Jewelers was able to secure a large office space at an affordable price, while City Urban Realty was able to find a new tenant for its property. The deal was brokered by some of the top brokers in the industry, including Jamie Katcher, Douglas Regal, and Sebastian Infante of Cushman & Wakefield, and Jeremy Aidan, who represented The M Jewelers. With its prime location and affordable rents, Chinatown is likely to continue attracting businesses looking for office space in Manhattan.