TOWN Announces the Successful Leasing of 870 Seventh Avenue Industry titan Lori Shabtai completes fi

City Biz List, August 4, 2015

TOWN Residential, New York’s leading luxury real estate services firm, is proud to announce the successful July 28, 2015, closing of a 10 year retail lease at the transformed Park Central Hotel, located at 870 Seventh Avenue. Lori Shabtai represented the tenant, AFEX.

The new boutique-style 1,020 sf space will be AFEX’s first Manhattan retail location. Although Ms. Shabtai declined comment on the rent paid, she added that both sides greatly respected the others incredible value and the deal was made accordingly.

Headquartered in California with offices throughout the Americas, EMEA and Asia Pacific, AFEX is a trusted global payment and risk management solutions specialist. Operating in over 200 countries and trading more than $15 billion in foreign exchange each year, AFEX seamlessly handles every aspect of a client’s foreign payment needs, from risk consultation to transaction execution.

“After visiting AFEX’s Beverly Hills flagship location, on North Beverly Drive next to Tiffany’s and just steps from Rodeo Drive, it was clear that they needed a Manhattan presence of equal significance. After weeks of touring possible sites with ownership, we knew that the base of the Park Central Hotel was the ideal location with its unprecedented renovations and immediate proximity to Columbus Circle, Central Park, and of course the internationally renowned 57th Street corridor,” said Ms. Shabtai. “It was an honor to represent AFEX in the leasing of their first Manhattan retail location and to work with the CBRE team of Sean Moran, David LaPierre, and Cassie Durand.”

Ms. Shabtai joined TOWN Commercial in May. Previously, Ms. Shabtai served as Executive Vice President of Winick Realty Group where she was responsible for the marketing and leasing of Columbus Square - the Upper West Side’s nearly 400,000 square foot of retail and community use at the base of over 700 newly built residential units - with global brands Whole Foods, Starbucks, Sephora, T.J. Maxx, Home Goods, and Michaels, among others.  A ten year industry veteran respected for her professionalism and vision, Ms. Shabtai exclusively represents YogaWorks and many other prestigious and exciting national and international brands.


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