NEW YORK CITY-Itzhaki Properties Inc. has recently been named listing broker for 686 Broadway, and executives tell that it boasts prime retail space that is harder and harder to come by in the area. The 20,000-sf, building, at West 3rd and West 4th streets, has 41 feet of frontage shopping space.

“Retail in this area remains hot and there are few retail spaces of this size and scale directly on Broadway,” says agent Edan Cohen of Itzhaki Properties, who along with Erez Itzhaki, president of the company, is representing the seller.

Cohen tells that leasing retail space at this location is “an incredible opportunity for a retail brand to mount a presence not only in the Village, but also remain close to the signature stores of Soho.” Cohen further explains that there have already been interested buyers in the four-level space, which is within short walking distance of the New York University campus and close to many major Soho retailers such as Best Buy, Bath and Body Works, Duane Reade, Urban Outfitters, Starbuck’s, French Connection, Aldo, American Apparel and Crate & Barrel.

The 686 Broadway property contains 5,000 sf on each floor and 22-foot ceilings on the ground floor, with all floors retail-ready “making it perfect for a retail flagship,” Cohen says. Cohen would not provide information regarding the seller or reasons for selling at this time.

Cohen says that he has seen numbers for retail in this area within the mid-$250 range on Broadway above Houston. Another source notes that asking rates near Broadway and West 4th Street are around $225 per sf on the ground floor at this time. “There is a significant difference between the asking rents for retail space a few blocks down in SoHo–on Broadway below Houston–which I’ve seen within the $300 to $400 per sf range,” Cohen tells

Cohen explains that there has been a lot of recent activity in the nearby vicinity. Nearby, at 600 Broadway, the 65,000-sf building on Broadway and Houston, Abercrombie & Fitch’s teen line Hollister Co. is scheduled to open their first multi-level flagship store at the space Pottery Barn is currently occupied in, Cohen notes, which should be open in Spring 2009.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?


© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

Dig Deeper

GlobeSt Net Lease Spring 2024Event

This conference brings together the industry's most influential & knowledgeable real estate executives from the net lease sector.

Get More Information


Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join now!

  • Free unlimited access to's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including and

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.