Commercial Real Estate & Advisory

Private Club Inks Third City Lease

April 20, 2005

John Allan’s – a private club and salon where men can play billiards, have their hair cut, drink and receive spa treatments – has leased 3,603 square feet at 424 Washington Place, according to Roxanne Betesh, vice president of Sinvin Realty Corp., who represented the landlord in the transaction.

Michael Berger of GVA Williams represented the tenant.

Terms of the 10-year lease, with a five-year option to renew, are not being disclosed, but the landlord had been asking $50 per square foot.
The space sits within a highly visible storefront in a 19th century warehouse that has been converted to luxury residential condominiums as part of the River Lofts development, by Boymelgreen Developers. Meryl Streep bought an $8.95 million penthouse in the complex’s second building, at 92 Laight Street.

The club will likely draw a number of members from neighbors Salomon Smith Barney, Tribeca Fine Arts and Citibank. The Tribeca Grill is also a neighbor.

“Not just any location will do for this gentleman’s club,” said Betesh. “At the River Lofts building, we were able to offer a great location and brand-new modern amenities to suit the club’s personality.”