Modell’s Sporting Goods signed a 10-year lease for the former Sports Authority location at 845 Third Avenue on the corner of 51st Street and Third Avenue.
The 20,000-square-foot lease encompasses the ground floor, second floor and basement level formerly occupied by Sports Authority. The space was initially among the 28 stores claimed by Dick’s Sporting Goods as part of a bankruptcy auction, but Dick’s eventually rejected the lease after due diligence, losing an opportunity to open its first Manhattan store.
Set to open in mid-November 2016, it will be Modell’s 44th New York City location and 159th location in the Northeast.
“We are excited to add Modell’s, a great family-owned, New York-based retailer, to our prestigious roster of retail tenants,” said Bill Rudin, co-vice chairman and CEO of Rudin Management Company, the operating arm of the Rudin Family holdings. “We are looking forward to the opening of the Modell’s flagship store in November, and it will be a welcome addition to the thriving Third Avenue corridor.”
“We are so thrilled to be in such a marquee location for our flagship store in Manhattan,” said Mitchell Modell, CEO of Modell’s Sporting Goods. “It is our first deal with the Rudins, and we are delighted to be part of their family.”
Modell’s has more than 150 stores throughout the Northeast, including New York, New Jersey, Pennsylvania, Connecticut, Rhode Island, Massachusetts, New Hampshire, Delaware, Maryland, Virginia and the District of Columbia.