This will be City Sports' second Manhattan store. The otherlocation is at 390 Fifth Ave. at 36th Street. City Sports signed onfor 11 years. Muss Development sources tell GlobeSt.com thataverage price of the area is $125 per sf, but they could notdisclose asking or taking rent.

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Muss Development LLC purchased 64 W. 48th St., a 17-story,130,000-sf boutique office building in the Rockefeller Center areaof Manhattan, in March for $54.5 million fromWestern Management, which paid $34 million for it two years ago.The owner will work with the retailer to upgrade the retail facadeand make other improvements, including illuminated signage--whichwill be visible from the Avenue of the Americas--and a modernentrance canopy with additional signage. The store is expected toopen in the fall.

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Jason Muss, a principal at Muss Development, says in a preparedstatement that the up and coming sporting goods retailer inManhattan was looking for a location with a "significant amount ofpedestrian traffic." Muss was represented by Jedd Nero of CBRichard Ellis Inc.

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Approximately 25,000 sf of space will soon become available,including full floors. Mark Lauzon of Cushman & Wakefield isthe exclusive leasing agent for the office space in thebuilding.

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Muss Development is currently in the process of repositioningthe building as a first-class boutique office building. Abuilding-wide multi-million dollar capital improvement program isunderway, including a restored lobby with restored decorativeplaster ceiling, new elevator cabs and common areas, new doublepane windows, upgraded façade and new roof, new HVAC systems,electrical system upgrades, new bathrooms, upgraded securitysystems and keycard access. The property offers full floors rangingfrom 6,000 sf to 9,000 sf.

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"We believe this building will appeal to a wide array of tenantswho will appreciate the value, location and stable long-termownership and management that will be provided by MussDevelopment," Muss says in the statement. "We will be able to offerleases at a fraction of the cost of nearby alternatives yet stillprovide the kind of space that a first class tenant demands andrequires."

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Natalie Dolce

Natalie Dolce, editor-in-chief of GlobeSt.com and GlobeSt. Real Estate Forum, is responsible for working with editorial staff, freelancers and senior management to help plan the overarching vision that encompasses GlobeSt.com, including short-term and long-term goals for the website, how content integrates through the company’s other product lines and the overall quality of content. Previously she served as national executive editor and editor of the West Coast region for GlobeSt.com and Real Estate Forum, and was responsible for coverage of news and information pertaining to that vital real estate region. Prior to moving out to the Southern California office, she was Northeast bureau chief, covering New York City for GlobeSt.com. Her background includes a stint at InStyle Magazine, and as managing editor with New York Press, an alternative weekly New York City paper. In her career, she has also covered a variety of beats for M magazine, Arthur Frommer's Budget Travel, FashionLedge.com, and Co-Ed magazine. Dolce has also freelanced for a number of publications, including MSNBC.com and Museums New York magazine.