JRT Realty Group, the nation’s largest certified woman-owned commercial real estate services firm, has arranged a 2,000-square-foot, 10-year lease for Barre3, an international fitness barre studio, on behalf of The Hakimian Organization and Gorjian•NY at 44-16 23rd Street in Long Island City in Queens.
The landlord’s leasing team consists of JRT Realty Group’s President Greg Smith, Executive Managing Director Ellen Israel and Director Lauren Calandriello.
“With Long Island City rapidly developing, this is a strategic move for Barre3,” said Greg Smith of JRT Realty Group. “Based on current construction, the area expects more than 22,000 residential units and 35 hotels in the coming years. This property presents a unique opportunity for creative companies to establish their roots in a profitable location at an affordable price.”
The tenant will be occupying part of the ground floor of the 22,294-square-foot property. The building is comprised of two, 10,000-square-foot floors and includes high ceilings and expansive floor plans, allowing for an abundance of natural light and buildout opportunity.
This will be the studio’s second establishment in New York City; its first being in the West Village. Barre3 has multiple studios throughout the U.S. as well as locations in Canada and the Philippines.
“Long Island City is a great place for businesses like Barre3 to grow and strengthen their brands,” said Shawn Hakimian of The Hakimian Organization. “With the increasing number of residential units being added, local tenants will reap the benefits of an emerging retail market with high foot traffic and budding neighborhood amenities.”
The building is located in short walking distance to Court Square with easy access to the E/M/7/G/N/Q subway lines and local bus stops. The Queensboro Bridge is also within close proximity to the property, along with various dining and retail shopping.
Aaron Fishbein of Winick Real Estate represented the tenant in the transaction.