Commercial Real Estate & Advisory

Sextant in City is Nautical But Nice

February 11, 2004

New York Nautical, a TriBeCa institution for more than 100 years, and a favorite retail haunt for such celebrity ‘commodores’ as Billy Joel, Andy Garcia, Morgan Freeman, Daniel Day Lewis and Michail Imperioli, has leased a 2900 s/f two-level store at 158 duane Street reports Roxanne Betesh, vice president of Sinvin Realty Corp.”If there were ever a place in New York to find such items as an artificial horizon, beam compass, hand cast brass ship bells with iron cast clappers, books, charts, boat swains’ whistles, maps and foghorns, it is New York Nautical,” explains Ms. Betesh.”They are one of the city’s oldest retailers and command a very loyal following among professional and recreational mariners and people who like cool gifts and an impressive nautical library.”The store had been located at 140 West  Broadway since 1970.

In its new location, New York Nauticalwill be ‘sandwiched’ between two popular restaurants in the same building – Danube and Bouley.Roxanne Betesh of Sinvin Realty represented both tenant and landlord  in the transaction, which had an asking rent of $76 per square foot on a long-term lease with renewal option.”As a local sailor and Tribeca resident, I take particular delight that Sinvin was able to help this cherished nautical institution stay in the neighborhood,” says Bruce Sinder, president of Sinvin Realty Corp.For nearly a quarter century, Sinvin Realty Corp., has been a leader in tenant and promotional brokerage services to retailers, office tenants and landlords in New York’s Downtown neighborhoods.  Sinvin has played a vital role in the growth of SoHo, TriBeCa, NoLita, Flatiron, Chelsea, NoHo, and the Meatpacking District, representing prominent retail and office tenants including Balthazar, Louis Vuitton, Bonne Bell and Harvard University.