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Crate & Barrel deal wins award from New York real estate board

Cushman & Wakefield has won the Real Estate Board of New York’s "Retail Deal of the Year Award Which Most Significantly Benefits the Manhattan Retail Market" for its representation of Chicago-based Crate & Barrel in a 40,000 sq. ft. deal. The home furnishings retailer signed a long-term lease for a new store at 611 Broadway, also known as The Cable Building, creating a major footprint in lower Manhattan.

The lease established Crate & Barrel’s second location in New York City. Its first Manhattan store is located at Madison Avenue and 59th Street. Gene Spiegelman, director in Cushman & Wakefield’s retail services division, advised the 40-year-old retailer in the transaction.

According to David Gialnella, executive vice president and head of Cushman & Wakefield’s national retail services, says the Crate & Barrel deal will revitalize the NoHo and SoHo districts. "The Cable Building sits at the intersection of NoHo and SoHo, creating a hub between two powerful retail markets," Gialnella says.

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