From the monthly archives: "July 2008"

Winick bringing three retail sites on Fulton to market

Winick Realty Group announced that it has been appointed exclusive leasing agent for there retail spaces on Fulton Street in Manhattan’s Financial District.

125 Fulton Street, between Nassau and William Streets, consists of 3000 s/f on the ground floor and 3000 s/f on the lower level. With 25 feet of frontage on both Fulton and Ann Streets, the store can have a dual entrance.  Michael Worthman of Winick is handling the project along with Darrell Rubens.

Worthman and Rubens are also marketing a retail condo for lease at 119 Fulton Street, between Nassau and William Streets.  The space encompasses 2,300 s/f on the ground floor and 1,500 s/f on the lower level and can also have a dual entrance.

The retail at 110 Fulton Street, on the southeast corner of Dutch Street, is another Winick exclusive marketed by Rubens and Worthman. The available space consists of 700 s/f on the ground floor and 700 s/f on the lower level with 14 feet of frontage on Fulton Street and 50 feet on Dutch Street. The pair has recently leased 700 s/f in the building to Gem Story, a custom jewelry and accessories store.

Adjacent to Pace University and the new Fulton Street Transit Center as well as to a number of new developments, these Fulton Street retail spaces are also neighboring with GNC, Chase Bank, Duane Reade, Dunkin Donuts and Bank of America.

“New retailers such as Starbucks,

Sophie’s Cuban Cuisine, Bank of America, and GNC have changed the retail landscape on this historic street,” said Worthman.

“Rents are skyrocketing on Wall and Broad Streets: retailers are already paying $400-500 per square feet,” said Worthman.  “On Fulton Street the price range is $150-$225 per square feet, but with the future opening of the Fulton Street Transit hub, I believe it is just a matter of time before rents increase on Fulton as well,” he added.

The new Fulton Street Transit Center will link 12 subway lines, connect to the World Trade Center transportation hub and accommodate more than 300,000 riders daily.  The project, which is expected to profit the Financial District immensely, is slated for complication in summer 2009. 

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Deep discounters draw busloads of shoppers to Jamaica

Sonia Kahuratieery boarded a bus in suburban Washington around 5 a.m. so she could devote her Saturday to shopping – in Jamaica, Queens.

It might sound crazy, but the 500-mile round trip journey isn’t uncommon for fans of the retail corridor stretching along Jamaica Ave. from Sutphin Blvd. to 169th St. The area is a big hit with out-of-town churches, sororities and union groups that charter buses for Saturday visits.  

Like many locals, out-of-towners are drawn by cut-rate clothing, shoe and housewares stores like Conway, Strawberry, Telco and Cookie’s. The area, once home to Macy’s and other big department stores, has morphed into a discounters’ paradise.

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Daily News_072608_Deep discounters draw busloads of shoppers to Jamaica


NEW YORK CITY — Construction is advancing for a 15-story office tower located at 450 W. 14th St. in the Meatpacking District of Manhattan, New York City. The project consists of a 10-story glass tower that sits atop a five-story former cold storage warehouse. Additionally, the High Line, a former elevated rail track that is presently being redeveloped into a public park, travels through the former warehouse. Once the office project is complete in the first quarter of 2009, it will include 114,500 square feet of office space, as well as 8,022 square feet of ground-floor retail space and 6,000 square feet of lower-level retail space. The office tower is being developed by CB Developers, with Morris Adjami Architects serving as project architect. Kelly Gedinsky of Winick Realty is serving as exclusive leasing and marketing agent for the retail space.                    

For more, download the full article in PDF

REBusiness_July 25, 2008_CONSTRUCTION ADVANCING FOR 15-STORY OFFICE TOWER                  

Frank R. Terzulli, EVP, Winick Realty Group

Terzulli was in the roots of the firm as one of its co-founders and partners. Formerly, an executive at Macy’s NY, Mr. Terzulli realized his passion for commercial real estate when he became a Senior Member of the Expense Planning and Real Estate Department for Macy’s. Working with Winick Realty over 25 years and gaining millions of square feet of experience, Terzulli has become an established part of the New York real estate scene.  He is handling the leasing of dozens of various retail spaces throughout the city and the tri-state area, representing many of New York’s most prominent property owners, such as The Dust Organization, The Kaufman Organization, Related Companies, Gotham Holdings, and General Growth. Terzulli has represented Starbucks Coffee, MacDonald’s, AT&T, Duane Reade, Barnes & Noble, and many other national and international retailers.

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rew_072308_allstars_Frank R. Terzulli

Darrell Rubens, Managing Director, Winick Realty Group

From a family of architects and designers, Rubens has had a passion for real estate development and leasing since his early adult years.  He joined Winick Realty ten years ago fresh out of Pace University with a degree in Business Management and Marketing.  Rubens has grown with the company playing a key role not only as a prominent broker but also as a productive manager.  In only a few years he was promoted to managing director. Rubens is handling the leasing of more then 500,000 SF of retail space throughout the city, representing many of Manhattan’s most prominent property owners, such as The Moinian Group, ABS Partners Real Estate and Swig Equties.  He has been instrumental in arranging numerous transactions involving such major retailers as Thomas Pink, Canali, Sephora, Gold’s Gym, Gristedes and Blockbuster. Having completed more than $1 billion worth of retail transactions, Rubens has become an established part of the New York real estate scene. 

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rew_072308_allstars_Darrell Rubens

Joseph Isa, Senior Director, Winick Realty Group

Isa joined Winick from a Chicago firm in 2006.  His strong tenant representation skills and understanding of landlord needs were evident from the start and he was successfully negotiating and closing deals within a few months, soon earning promotion to senior director.  At Winick, he has been involved in over $50 million gross retail transactions. His recent work includes deals for Lush Cosmetics, Duane Reade, Dunkin Donuts, Sophie’s Cuban Cuisine, Associated Supermarket and Ricky’s. On the landlord side, Isa works with such prominent property owners as Tishman Speyer, The Chetrit Group, and Rockrose Development.

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rew_072308_allstars_Joseph Isa