The Store, a Neighborhood Mainstay for More Than Three Decades, Extends 7,590 SF Lease Until 2030
Janovic Paint & Decorating, one of New York’s most legendary paint and decorating stores, has signed a 12-year lease renewal at its long-time flagship location located at Jack Resnick & Sons’170 West 23rd Street.
The lease encompasses 7,590 square feet on the ground floor of the retail condominium, located between Sixth and Seventh Avenues. The store, which offers a wide variety of interior and exterior paints, window treatments, wall coverings and supplies, has been housed in the space since 1985. Janovic’s new lease now extends through 2030.
In tandem with the lease renewal, Janovic plans to renovate and revamp their retail space later this year. Upon completion, the flagship store will feature a customer interactive design that caters to designers, architects, contractors and consumers representing premium brands including Benjamin Moore, Hunter Douglas and Fine Paints of Europe.
“Janovic has been a neighborhood mainstay for more than three decades, and we are delighted to extend our relationship for many years to come,” said Dennis Brady, Senior Managing Director at Jack Resnick & Sons.“Given its visibility, high foot traffic and the convenience of being in close proximity to the 23rd Street subway station, 170 West 23rd Street remains an ideal location.”
Established in 1888 in New York City by Emil Janovic, the Janovic family built a business assisting customers in painting and decorating their homes.The ten-store chain was owned by Benjamin Moore for 15 years before being acquired by New York City paint industry veterans, Rich Gaudino, Mike Mantikas, Gus Mantikas and Tony Kostoulas.
Richard Gaudino, President and Chief Operating Officer of Janovic, commented: “For more than a century, Janovic has been a household name and a symbol of quality in New York City.We’re proud to continue this great legacy and to be working with the Resnicks in re-creating our longtime Chelsea home.”
Throughout their 128-year history, Janovic has been commissioned for several major New York City commercial projects, from refurbishing the landmark King’s Theater in Brooklyn, touching up the Empire State Building, and painting the walls at the Museum of Modern Art (MoMA).
Janovic Paint & Decorating was represented in the transaction by its President and COO Richard Gaudino. Building ownership was represented in-house by Mr. Brady as well as Jack Resnick & Sons’ Managing DirectorFran Delgorio.
Situated directly adjacent to the 23rd Street “1” train subway stop, 170 West 23rd Street hosts a list of prominent retail tenants, including Garden of Eden Grocer, Spa Belles, Dominos, Subway, OMG Jeans, HHK Sushi & Tea and Man Made Barber.
According to Ms. Delgorio, only one retail unit of 1,600 square feet remains available at the property. The space, which includes 20 feet of frontage on 23rd Street, is listed at an asking rent $170 per square foot.
About Jack Resnick & Sons
A full service real estate organization, Jack Resnick & Sons has been an industry leader in development, construction, ownership and management since its founding in 1928.Its Manhattan portfolio currently includes approximately six million square feet of commercial office and retail space, including One Seaport Plaza, its signature office tower at 199 Water Street.It also has developed thousands of luxury residences and continues to own, manage and lease approximately 1,000 rental apartments.
