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Daffy’s Leases Up for Auction

Of the 11 leases scheduled for auction on Dec. 12, one site includes the store that was in the Times Square location.

Eleven former Daffy’s store leases are up for auction on Dec. 12, including the former site that was in Times Square.

Five of those leases are in Manhattan.

The Times Square location totals 24,000 square feet, with the initial lease term expiring on Feb. 18, 2026. The annual base rent is $804,000.

Three other Manhattan sites command higher annual rents, and in one instance double the square footage.

The former site at 335 Madison Avenue and 44th Street totals 17,200 square feet, with an annual base rent of $2.1 million. That lease expires June 30, 2014. The largest former store site in Manhattan up for auction is at 135 East 57th Street totaling 54,000 square feet. The lease expiration date is Jan. 31, 2016, and the annual base rent is $2 million. The other site with an annual base rent of nearly $2 million is the former location at 1775 Broadway and 57th Street, which is 23,250 square feet. That lease term is up Aug. 31, 2017.

GA Keen Realty Advisors is handling the auction for the bankrupt estate.

Daffy’s filed for bankruptcy court protection in Manhattan on Aug. 1, and has since liquidated.