SRS Real Estate Partners announced that Party City Corporation has subleased 11,825 s/f at 223 West 34th Street between Seventh and Eighth Avenues in the Penn Plaza district of Manhattan.
Matt J. Ogle and Patrick A. Smith of SRS’ New York office represented the tenant, Party City, in the lease negotiations.
Jeff Winick, Ann La Centra and Josh Siegelman of Winick Realty represented the sub-lessee, Duane Reade.
The new store is scheduled to open in the second quarter of 2012. This will be the retailer’s second location in Manhattan.
Party City is the largest party goods retailer in the US with over 760 permanent stores and 400 temporary stores in 41 states.
It is wholly owned by Amscan Holdings, Inc., the nation’s largest wholesaler and distributor of party goods and supplies.
The space sits below the new DSW store which opened in March and occupies three floors of glassy retail space.