Bed Bath & Beyond signs lease at Shimmie Horn’s 1275 Broadway

Shimmie Horn’s Triumph Hospitality through the entity Lophijo Realty Corp as owner signed an agreement with Bed Bath & Beyond for 1 parcel, including the tax class transient occupancy hotel in midtown Manhattan area (H3) at 2175 Broadway in Upper West Side. The deal closed on July 19, 2019 and was recorded on August 21, 2019.
The property contains a total of 121,147 square feet of built space. The property has 14,661 square feet of available development rights. The amount of square feet was not disclosed in the document.
The lease is for 12 years with a 10-year renewal option. The lease was expected to commence in July with payments starting four months later, in November.

The DOB issued a major alteration (A1) initial temporary certificate of occupancy for the building with 242 residential (or hotel) units on July 19, 2016.
Over the past five years, there have been 15 NYC Department of Buildings permit applications filed for this parcel valued at more than $20,000. Of those there was one major renovation application including a certificate of occupancy change (A1) filed with a total estimated value of $1,000,000. There were 14 renovation/alteration projects (A2) applied for with a total estimated value of $3,835,677.
Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA. link

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