October 7, 2008

ABS Partners Real Estate has been hired to handle the leasing of four unique properties on Broadway just south of Canal Street. These properties collectively represent over 48,500 sq ft of retail space with an annual rental value in excess of $3.4 million. According to one of the property owners…we hired ABS Partners due to their expertise and depth of market knowledge…our strategy being to lease these excellent locations to quality tenants on a long term basis…

ABS will be leasing the Broadway retail sites at buildings 401, 372, 355 and 353. The unique retail spaces at both 355 Broadway and 353 Broadway are each two story buildings measuring 32’ by 166’ and have a full basements and sub-basements. These buildings can be combined to create one 30,000 square foot Broadway retail building. The ABS team of Jay Caseley, Alan S. Cohen and Ben Waller will be handling this assignment, as well as the northern most store of the group - 401 Broadway. This corner unit of approximately 3,700 square feet with a full selling basement is located within the well know 25 story 250,000 sq ft office building which ABS is also handling. Anand Melwani of ABS is the agent for the fourth agency at 372 Broadway, which is 3,750 square foot store with a full basement and sub-basement.

For many years the area around Canal on Broadway in SoHo has been a retail destination for many clothing and furniture stores. Local and regional retailers were able to find reasonable rents and close proximity to transportation lines in this neighborhood. As these leases turn over, Landlords have been able to attract tenants like Prada, Uniqlo, Express and other high end national chains. These tenants are now looking for a new hip place to open additional stores, and are discovering an excellent environment south of Canal Street as they once pioneered in SoHo. The stretch of Broadway from Canal to Chambers Streets has access to all of Manhattans subway lines. “With the size and scale of the retail stores, the great propinquity to the subways, affordable rents and the Broadway address it is a terrific option for retailers to create a destination location to attract hip young customers with high disposable income” says Ben Waller, an agent for several of the assignments.

Individual brokers referenced in this release can be reached for comment as follows:

James Caseley Executive Managing Director 212.400.6063 jcaseley@absre.com
Alan S. Cohen Executive Managing Director 212.400.2359 acohen@absre.com
Anand Melwani Associate 212.400.2344 amelwani@absre.com
Benjamin Waller Assistant Managing Director 212.400.9494 bwaller@absre.com

ABS Partners Real Estate LLC is a New York based real estate investment, brokerage, management and consulting firm specializing in representing owners of real estate in the acquisition, repositioning and development of commercial and residential properties. “We Build Partnerships That Last”

For additional information contact Jason Fein at 212.400.2357 or jfein@absre.com.