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News release

NEW YORK

Related, LargaVista Continue Progress at 300 Lafayette Retail Space

Soho building by COOKFOX Architects offers marquee opportunity for anchor retail tenants over 10,000 square feet


NEW YORK, March 29, 2017 —  Related Companies and LargaVista Companies announced continued progress with the construction of the 28,880 square feet of retail space planned at the base of 300 Lafayette Street, where anchor tenants larger than 10,000 square feet now have a unique opportunity in the coveted Soho neighborhood. The developers received a special permit from the city of New York to allow for retail tenants larger than 10,000 square feet at the project, letting the construction of the retail portion to move forward without requiring prospective retailers to obtain any additional variances from the city. Related and LargaVista broke ground on 300 Lafayette Street last year, with the building's foundation expected to be complete in April of this year, and construction slated for completion in 2018.

"The well-positioned and significant retail opportunity at 300 Lafayette Street is truly unique in the Soho marketplace. We have seen great demand for a significant retail presence in Soho and our team worked closely with the city of New York to ensure we obtained all appropriate approvals needed to accommodate larger retailers. The result is a compelling offering—a truly unique flagship retail opportunity in a highly coveted location," said Avi Kollenscher, senior vice president, with Related. "

The new 80,000-square-foot, mixed-use boutique office and retail building offers nearly 50,000 square feet of office space on the top floors. The multi-level retail space boasts 300 feet of frontage along Crosby, Lafayette and East Houston streets, and includes 8,800 square feet on the ground floor, 9,800 square feet on the second floor and 10,200 square feet of lower-level space.

"The retail space at 300 Lafayette Street offers an incredible branding opportunity for a large-format retailer in the epicenter of Soho," said Patrick Smith, vice chairman and head of New York retail brokerage for JLL, and leader of the team marketing the retail space for ownership. "Large-format retailers are able to enter this market and truly comply with local zoning laws, while leveraging something unique that no other large-format retail space in Soho can offer — 40-foot high signage that can be seen from as far west as Wooster Street."

About Related Companies

Related Companies is the most prominent privately-owned real estate firm in the United States. Founded more than 40 years ago, Related Companies is a fully-integrated, highly diversified industry leader with experience in virtually every aspect of development, acquisitions, management, finance, fund management, marketing and sales. The Company has $50 billion in real estate assets owned or under development including best-in-class mixed-use, residential, retail, office, trade show and affordable properties in premier high-barrier-to-entry markets. Headquartered in New York City, Related has offices and major developments in Boston, Chicago, Los Angeles, San Francisco, South Florida, Washington, D.C., Abu Dhabi, London, São Paulo and Shanghai, and is well-known for having developed the 2.8 million-square-foot Time Warner Center in New York City and the 72-acre CityPlace in West Palm Beach as well as being a leader in green building. For more information about Related Companies, please visit www.related.com.

About LargaVista Companies

LargaVista Companies is a privately held real estate development, management and investment firm based in New York City. LargaVista specializes in the development of environmentally impacted properties, redeploying these assets for higher and better uses. LargaVista is an expert in managing the environmental remediation of properties and brownfield issues throughout New York. LargaVista engages in a wide variety of transactions, including build-to-suit commercial projects, larger scale mixed-use urban development, and equity investments in luxury resort properties. http://www.largavista.com

About JLL

JLL (NYSE: JLL) is a leading professional services firm that specializes in real estate and investment management. A Fortune 500 company, JLL helps real estate owners, occupiers and investors achieve their business ambitions. In 2016, JLL had revenue of $6.8 billion and fee revenue of $5.8 billion and, on behalf of clients, managed 4.4 billion square feet, or 409 million square meters, and completed sales acquisitions and finance transactions of approximately $136 billion. At year-end 2016, JLL had nearly 300 corporate offices, operations in over 80 countries and a global workforce of more than 77,000. As of December 31, 2016, LaSalle Investment Management has $60.1 billion of real estate under asset management. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit www.jll.com.