From the monthly archives: "January 2008"

Winick tapped to lease 47,000 s/f multi level retail site

Winick Realty Group has been appointed the exclusive leasing agent for the retail space at a soon-to-be-developed mixed-use project at 885 Sixth Avenue at the southwest corner of West 32nd Street. 

The new 47-story luxury residential building, also known as Tower III, is situated in the heart of Herald Square – with its core hotels, office/residential buildings, mass market retailers along with its extraordinary mass transit and pedestrian traffic. 

The retail space is comprised of approximately 47,600 square feet on up to 3 levels – 9,800 s/f on the ground floor, 16,300 s/f on the second floor, 16,500 on the third and a 5,000 s/f mezzanine.  

Each floor will feature ceiling heights of 20 to 25 feet. The third floor, which will have a private street-level lobby entrance and elevator, can be leased separately. “With all the new development going on in the neighborhood, the Herald Square area will be unrecognizable just in a few years,” commented Benjamin Fox, president, a leading specialist in retail real estate, who is heading up the project along with Amanda Scoblick, director.

The site is directly across the street from Manhattan Mall, where a 150,000 s/t J.C. Penny will open next year. With 100 feet of frontage on Sixth Avenue, 150 feet on West 32nd Street, the retail space has extraordinary exposure and is visible three blocks away.

The building is being developed by Atlantic Realty Development Corporation and is scheduled for occupancy in the second quarter of 2009.  Designed by Costas Kondylis and Partners, this building is a part of the new look of the shopping district. 

For more, download the full article in PDF

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Winick gets tuned into tenants needs in search to fill Union Sq. mega store

Winick Realty Group has been appointed exclusive leasing agent of one of New York’s most well-known retail locations – One Union Square South, currently occupied by Virgin Records Megastore. 

The retail space, which encompasses 26,660 square feet on the ground floor and 31,035 square feet on the lower level, will become available in February 2009.  With ceiling heights up to 18 feet, the space has 175 feet of frontage on 14th Street and 160 feet on Broadway.

Jeff Winick, CEO, Lori Shabtai, Director of Luxury and Brand Retail, and Steven E. Baker, Managing Director, are handling the project.

The brokers are considering leasing the space to one tenant as well as dividing it for two or three tenants.

“One Union Square South – the epicenter of downtown Manhattan – allows an unprecedented retail opportunity for a brand to truly stake its claim on Manhattan’s retail pulse.  We are thrilled to be part of this process and look forward to creating the perfect ‘union’ of the right tenant and this location’s excellence with unlimited retail potential,” commented Lori Shabtai.

For more, download the full article in PDF

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Westfield signs WTC deal 

Westfield Group is returning to Lower Manhattan. Westfield and the Port Authority of New York and New Jersey will jointly develop and operate a retail development at the new World Trade Center. Westfield signed a letter of intent to handle management and leasing for the venture and says it will invest up to $625 million toward development costs. The Port Authority is to invest $825 million. Westfield operated the retail center under the World Trade Center destroyed by the terrorist attacks of September 2001, having acquired an interest in July of that year. The company sold its stake back to the Port Authority in 2003 to simplify the rebuilding process. “We always wanted to be a part of the revitalization of this historic site once the plans were finalized,” said Peter Lowy, Westfield’s group managing director, in a press release. “With the Port Authority, we look forward to creating a world-class, iconic shopping destination for Lower Manhattan.”  

Plans call for 488,000 square feet of retail space on multiple levels, with the majority of that located in the new transit terminal. The space will feature casual and full-service eateries as well as local, national and international specialty shops. “This project will provide a major boost to the local economy and will enhance the quality of life for those who live, work or visit downtown,” said Port Authority Chairman Anthony Coscia. “It will provide them with a vibrant urban shopping experience.” Darrell Rubens, managing director of New York City–based Winick Realty, says Westfield will have no problem bringing in new tenants. “They will have every tenant in the U.S. and the world begging to get in,” he said. “Before [Sept. 11] the tenants there had the best-performing locations in the U.S. You’re going to see even more high-caliber tenants now that you didn’t have before.” 

For more, download the full article in PDF 

Shopping Centers Today – January 14, 2008 – Westfield signs WTC deal 

Trump bites into a BLT at SoHo Hotel

Winick Realty Group has announced that Jimmy Haber of BLT has signed a long-term lease at an undisclosed rental for over 20,000 sqft of restaurant , F and B, and event space at the glamorous and ultra-chic Trump SoHo Hotel in New York City at 246 Spring Street. 

Lori Shabtai, Director of Luxury and Brand Retail, and Jeff Winick, CEO, represented both the tenant and the landlord, Sapir Organization.

“This was one of the most exciting and speedy deals I’ve ever done.” said Shabtai. “Sapir / Bayrock and Trump are like few developers I’ve ever met.  They know exactly how to increase the value of their properties. There was an absolute synergy and understanding  between the  perfection of both brands, only the best will do for all involved, and I cannot wait to see this become a reality for the ultra -chic New Yorkers and Europeans who will be living and playing at Trump SoHo.”

The restaurant, called BLT SoHo, will be Laurent Tourondel’s fifth in the city. He also has BLT Steak at 106 East 57th Street, BLT Fish at 21 West 17th Street, BLT Prime at 111 East 22nd Street, and BLT Burger at 470 Sixth Avenue.

BLT Restaurant Group is owned by Haber, Tourondel and Keith Treyball, and is comprised of BLT Steak in New York City.

Additional locations of BLT Steak are scheduled to open in Los Angeles, White Plains, Miami, Scottsdale and Atlanta.

For more, download the full article in PDF

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WHO’S NEWS

Winick Realty Group announced that Alfina Tihonova and Tatiana Voevodina joined the international retail department to focus on investment and retail sales with Eastern Europe.  

With a degree from the Moscow State University, Tatiana Voevodina moved to the U.S. in 1990, and obtained a degree in marketing from the School of Visual Arts of the Fashion Institute of Technology.  She worked in marketing departments of many investment companies such as Oppenheimer Capital, JP Morgan Chase, John A. Levin and Co. After spending four years as an Art Director of an international advertisement company, in 2004, Ms. Voevodina started her career in commercial real estate.  She was responsible for the sales of over 200,000 square feet of mixed-use developments in her first year.

Alfina Tihonova has more than seven years of experience in commercial and residential real estate.  Prior to joining Winick Realty Group, Ms. Tihonova was an Account Executive at MSV Realty, where she managed accounts and transactions involving major property owners and developers both domestic and international. Prior to her real estate career, Ms. Tihonova, MBA, had her retail production and distribution company as well as her own clothing product line.

For more, download the full article in PDF

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Along Myrtle Avenue

Residents in the Ingersoll and Walt Whitman Houses are already experiencing the brunt of progress. Since last year, three development sites have claimed all their neighborhood amenities along Myrtle Avenue, between Flatbush Avenue and Fort Greene Park, including a supermarket, drugstore and Laundromat.

“It’s a hardship. It’s really a hardship,” said Ingersoll tenant Dorothy Berry. Elderly and handicap people are especially suffering, she said, because without laundry machines in the buildings, they have to push their clothing several blocks farther uphill.

Red Apple Real Estate, owned by Gristedes entrepreneur and potential mayoral candidate John Catsimatidis, is developing the largest project on Myrtle Avenue, 500 units of housing and more than 200,000 square feet of retail. Winick Realty director Amanda Scoblick, who is handling the leasing for the project, recently told the Eagle a supermarket and Duane Reade would be among the new tenants.

During the interim, Theo Moore, an organizer with Families United for Racial and Economic Equality (FUREE) said the group is working on getting a supermarket to sponsor shuttle buses for residents.

Councilwoman Letitia James said Catsimatidis offered this service early on, but the residents seemed disinterested.

For more, download the full article in PDF

Brooklyn Daily Eagle – January 22, 2008 -Myrtle