Recent Commercial Real Estate Transactions
Featuring Dominic Coluccio’s lease at 1500 Second Avenue
RECENT LEASE
$112.82/SQ. FT.
$264,000 approximate annual rent
1500 Second Avenue (between East 78th and 79th Streets)
Manhattan
Iken Academy, a preschool, has signed a 15½-year lease for a 2,340-square-foot ground-floor space in this 17-story mixed-use Upper East Side co-op building. The residential address for the building, built in 1963, is 301 East 78th Street. The academy, which is moving from 351 East 74th Street, will open at its new location in September and received a six-month rent concession for its build-out. Each year, the rent is to go up 3 percent. The previous tenant was Bond NY Realty.
Tenant: Ordinary Faces/Iken Science Academy, Monica Iken
Tenant’s Broker: Claude Kolb, Kassin Sabbagh Realty
Landlord: 301 E. 78 Owners Corporation
Landlord’s Broker: Dominic Coluccio, the Corcoran Group
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