Commercial Real Estate & Advisory

The Poker Room Gambles on New York

March 1, 2006

Poker, one of the favorite pastimes of Ben Affleck, Matt Damon and Chevy Chase, is more popular than ever. Starting this month, New Yorkers will be able to buy poker and blackjack tables and other hi-end gaming furniture at The Poker Room, whose owners have just leased 1,500 sq ft of ground floor retail space plus 200 sq ft in the basement at 110 Wooster Street, between Prince and Spring Streets in SoHo. Christopher Owles, managing director, and Bruce Sinder, president, of Sinvin Realty Corp. represented the landlord and the tenant in the deal.

Financial terms of the five-year lease with five-year option to renew are not being disclosed but the landlord had been asking $130 per sq ft. “SoHo has always suited innovative businesses like this one, especially those that appeal to the fashionable and prosperous shoppers that frequent the neighborhood,” says Owles.

The space at 110 Wooster Street has been vacant since Entrée Libre, a textile and interior furnishings company, moved out in 2003. It offers great visibility, 25 ft of frontage and a retail-friendly square layout, which is unusual in a SoHo loft building.