May 18, 2023 9:00 AM
Newmark announces it has arranged two new retail leases on behalf of ownership at 106 South Street, located in the heart of Manhattan’s historic South Street Seaport district. The leases total 2,739 square feet and include new tenants CAKE and NOBLE Publishing House. CAKE is an award-winning electric motorcycle company, and NOBLE Publishing House, an ultra-exclusive private event space curated by the world-renowned designer Timothy Oulton in partnership with NOBLE Publishing, Inc., a luxury custom magazine house home to Nobu Magazine, McLaren Magazine and many more titles to come. Newmark Managing Director Andrew Stern represented 105 South Street Development, LLC, on both transactions.
“With the closing of these transactions, we congratulate both tenants on the opening of their first Manhattan locations, a significant milestone for both brands,” said Stern. “Ownership looks forward to welcoming these premier retail concepts at The Seaport as they make a meaningful addition to the diversity of neighborhood offerings.”
CAKE was founded in 2016 with a mission to create electric motorcycles that combine excitement with responsibility and inspire the shift to a zero-emission society. Within three years of its launch, the brand was recognized with numerous accolades, including the 2019 and 2020 Red Dot Design Award, IF Design Award, Automotive Brand Contest Award and several “Best in Show” designations. Seeking to establish a presence within the New York City marketplace, the tenant signed a short-term lease to occupy the 1,448-square-foot ground-floor outpost, which features a 338-square-foot backyard, to serve as a formal showroom.
NOBLE Publishing House will bring to life a one-of-a-kind exclusivity to the Manhattan events scene. Offering the ultimate landscape for intimate gatherings, including cocktail parties, intimate dinners, product launches and turn-key VIP events, NOBLE Publishing House will offer select brands the opportunity to experience the curated space. To realize this vision, the tenant secured a short-term lease to occupy the 953-square-foot ground-floor corner retail space, which boasts abundant natural light and waterfront views.
Situated at the epicenter of the bustling South Street Seaport district, 106 South Street benefits from convenient access to a roster of surrounding amenities, including flagship retail and entertainment destinations, world-class dining concepts and historic landmarks. In addition, the outposts grant direct access to the FDR Drive and a short distance from the Wall Street Ferry line at Pier 11.
Newmark Group, Inc. (Nasdaq: NMRK), together with its subsidiaries (“Newmark”), is a world leader in commercial real estate, seamlessly powering every phase of the property life cycle. Newmark’s comprehensive suite of services and products is uniquely tailored to each client, from owners to occupiers, investors to founders, and startups to blue-chip companies. Combining the platform’s global reach with market intelligence in both established and emerging property markets, Newmark provides superior service to clients across the industry spectrum. For the year ending December 31, 2022, Newmark generated revenues of approximately $2.7 billion. As of March 31, 2023, Newmark’s company-owned offices, together with its business partners, operate from over 170 offices with approximately 7,300 professionals around the world. To learn more, visit nmrk.com or follow @newmark.
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