Joy Construction files plans for $3M tenant renovation of retail below Queensboro Bridge

Eli Weiss of Joy Construction, on June 11, filed a permit application for a $2.8 million tenant fit-out at 407 East 59th Street, also referred to as 405 East 59th Street, in Lenox Hill. Trader Joe’s has signed a lease for the space, but is not identified by name on the permit application.

Jorge Madruga’s Maddd Equities paid Gordon Group Holdings’s Bridgemarket Associates, L.P. $42 million for the master lease for landmarked space under the Ed Koch Queensboro Bridge on May 15, 2020. Madruga’s firm often partners with Weiss’ Joy Construction.

The plans call for a renovation of the 55-foot tall, 1-story, building.

The project is described in the filings as: filing minor renovation in existing business space for tenant fit out as per plan filed herewith. Includes architectural, fire alarm, sprinkler and plumbing work will be filed under in dob now system. No change in use, egress, and occupancy. The initial cost as reported in the DOB filing for the work described in this permit application is $2,750,000.

The property was previously occupied by Food Emporium, until its closing in 2015.

Art supply retailer Michaels had applied to fill the vacated space in 2017, however concerns over the design of the store caused the plans to fall through. It was reported in February that Trader Joe’s will be the new tenant.

Direct link to Acris document.LINK

Direct link to DOB document.LINK