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New York & Tri-State  + Downtown New York  + Retail  | 

Michaels Renews Lease in Long-Term Chelsea Space

Specialty arts and crafts retailer Michaels has signed a lease renewal for 32,000 square feet on the ground floor of GFP Real Estate’s 675 Ave. of the Americas in Chelsea, where it has been a tenant since 2014. Jeffrey Gural, chairman and principal of GFP Real Estate, represented the tenant and the landlord in the direct lease. 

“Along with Trader Joe’s, Michaels has been a solid, long-term anchor at the building for many years,” said Gural. “Michaels has seen incredible success at this location over the years driven by the area’s consistent, high level of foot traffic as the area remains a major shopping destination for home goods, furniture, art, food and fashion.” 

Originally built in 1901 to house the Adams Dry Goods department store, 675 Ave. of the Americas spans an entire city block on the west side of Sixth Avenue between 21st and 22nd streets. 

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About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 15-20 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

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