Yuco Buildings

Best Buy Leases 45,000 SF at 622 Broadway

New York, New York
Friday, October 8, 2004


Yuco Real Estate Company, Inc. is pleased to announce that Best Buy Co., Inc. has leased 45,000 square feet on the lower level, first and second floors of 622 Broadway for its third Manhattan location and first in Midtown South.

Yuco Real Estate was represented in the transaction by Gary S. Friedman, Esq. of Kaufman Friedman Plotnicki & Grun, LLP and by Jeffrey D. Roseman and Paul Berkman of Newmark New Spectrum. Peter Ripka of Ripco Real Estate and Steven A. Schumeister, Esq. of Robins, Kaplan, Miller & Ciresi LLP acted on behalf of Best Buy.

"We are pleased Best Buy has made a long term commitment to 622 Broadway and the rapidly expanding NoHo/SoHo retail corridor," said Raymond H. Yu, President of Yuco Real Estate. "Best Buy joins other premier retailers on the block such as Crate & Barrel and Adidas, along with Bloomingdale's, Prada and Pottery Barn just a few blocks away."

"Ownership was looking for the right quality retailer here, and not another sneaker store or drug store," said Jeffrey Roseman, Executive Vice President of Newmark New Spectrum. "With Best Buy, the neighborhood continues to evolve as a retail neighborhood for everyone."

622 Broadway is a recently renovated and distinctive cast-iron loft building located between Houston and Bleecker Streets. As part of the building's extensive renovation program, the building's facade was meticulously restored and as such it is a highly visible and significant structure in the NoHo Historic District.

Yuco Real Estate Company, Inc. is an owner/developer of commercial and residential properties throughout New York City. The Company and its affiliates provide real estate management, architectural/engineering, general contracting and maintenance services. In addition to office, residential and retail properties, the Company also offers furnished executive suite housing.