Hardware store set to take over in unit previously occupied by Blockbuster on the avenue between East 18th and East 19th streets.
Residents in the area around Stuyvesant Town won’t have to go far anymore to equip their next home improvement project. Ace Hardware recently signed a 15-year lease for 8,100 square feet on the far side at 312-316 First Ave., between East 18th and East 19th streets.
Asking rent for the space, 4,000 square feet on the ground floor and 4,100 square feet in the basement, was around $110 a square foot. Both levels will be used for retail space.
Scheduled to open in the first quarter of next year, this will be the third Manhattan location for H. Brickman & Sons, which is an Ace dealer. Ace itself is a retailer-owned cooperative. The store will take over space previously occupied by Blockbuster, which filed for bankruptcy protection last year and subsequently closed all but four of its 26 Big Apple locations.
“[Ace has] a great built-in customer base with all the apartment dwellers in that community,” said Allen Gurevich, the Newmark Knight Frank Retail broker who, along with colleague Eric Gural, represented the tenant.
Bruce Spiegel and Bill Bergman of Rose Associates represented Peter Cooper Village/Stuyvesant Town.