From the monthly archives: "October 2008"

Two Large Retail Spaces Available at Gretsch Building in Williamsburg

Winick Realty Group reports the exclusive listings for two retail spaces at the well-known and much written about Gretsch Building in Williamsburg.

One of the earliest condo developments in Williamsburg, a loft conversion, the building contains 132 residential units (all occupied), a built-in customer base for its future retail tenants.

There is also a considerable amount of new residential construction underway nearby, including the 72-unit 240-foot-long development across the street at 53 Broadway, a project of the Kaish & Taub Development Group.

At the Gretsch, the new owner of the retail condominium space has selected Winick to find tenants for the two spaces, which both extend from the front to the back of the building, according to Winick’s Amanda Scoblick and Diana Boutross, who are handling leasing along with Frank Terzulli.

The east space has 7,960 square feet at street level, plus 9,232 square feet on the lower level, 121 feet of windowed frontage along Broadway and windows front and back.

The west space has 7,464 square feet at street level, plus 5,558 square feet on the lower level, 104 feet of windowed frontage along Broadway and also windows front and back.

“We’re looking for a mix of uses, including a market and a restaurant,” Scoblick said.

Added Boutross, “The space is so beautiful. It’s a warehouse-looking space with high ceilings and windows front and back. It would be great for a restaurant.”

Both agents mentioned other restaurants in the neighborhood and along Broadway (“it has always been a viable retail corridor”), including Peter Luger’s, Dressler’s and Marlo & Sons, which also has a small gourmet market in front with the restaurant in back.

Possession is immediate, according to Scoblick, who added that smaller divisions of the two spaces are also possible and will be considered.

For more, download the full article in PDF

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Winick taps ex-bank boss to run new retail finance unit

Winick Realty Group announced that Robert S. Weber, previously the market director of real estate for JP Morgan Chase, has joined the firm as Director of Financial Retail Services.  

Weber will focus on real estate strategies for financial services retailers.  His expertise in this area will put him in a solid position to provide tenant and landlord representation as well as advisory services.

“Bob will be an invaluable asset to Winick Realty. With the recent upswing in mergers and acquisitions taking place in banking, Bob’s extensive background and expertise in the financial sector will be much needed in today’s environment.  We are proud to welcome him aboard our team,” said Jeff Winick, CEO.

As a 27-year veteran at JP Morgan Chase, Weber was in charge of overseeing the real estate portfolio of all Chase branches in Manhattan and Northern New Jersey.  He assisted in the integration of many of the bank’s locations, which throughout the years included Manufacturers Hanover/Chemical Bank, Chemical Bank/Chase, JP Morgan/Chase, Bank One/Chase and Bank of New York/Chase.

“I had the pleasure of working with Winick Realty Group for many years.  I am excited to join the company and look forward to sharing my experience with both my colleagues and clients. Although my focus has always been the banking industry, I look forward to using my experience to work with developers and landlords as well as tenants to bring value in this challenging marketplace,” said Weber.

Weber has worked with virtually every prominent property owner in Manhattan including The Maclowe Organization, The Related Companies, Vornado, The Moinian Group, Glenwood Management and scores of others.  Some of the high-profile branches that Weber secured on behalf of the bank include 15 Central Park West, 26 Astor Place, 1775 Broadway, 250 East 86th Street and the General Motors Building.

Weber holds a Bachelor’s of Science in Accounting and a Master of Science in Finance from Fairleigh Dickinson University (FDU). 

For more, download the full article in PDF

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Duane Reade signs on at SL Green site

SL Green Realty Corp. announced that Duane Reade has signed a 15-year lease renewal covering 5, 500 s/f at 625 Madison Avenue.

“We’re delighted that Duane Reade will continue its long-term tenancy with us,” said Steven M. Durels, executive vice president and director of leasing and real property for SL Green. The 17-story, 567,517 s/f 626 Madison features a two-story atrium lobby and white glove service. Located between East 58th and East 59th Streets, it is within steps of some of New York’s most renowned hotels, including The Four Seasons and The Plaza, and the property’s retail tenants include such prestigious international design firms as Baccarat, Fratelli Rossetti, and Stuart Weitzman. LVMH and Polo Ralph Lauren are some of the building’s major office tenants.

“We were happy to work with SL Green on this major transaction for our client at, arguably, the Upper East Side’s most significant retail intersection,” said Jeffery Winick, CEO, Winick Realty Group, which exclusively represents Duane Reade for all its real estate requirements.

Duane Reade occupies space in a number of SL Green buildings, among them 485 Lexington Avenue and 16 Court Street. 

For more, download the full article in PDF

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New Hires

WINICK REALTY GROUP

(NEW YORK CITY) Winick Realty Group is picking Robert S. Weber, previously the Market Director of Real Estate for JP Morgan Chase, to join the firm as director of Financial Retail Services.

For more, download the full article in PDF

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Java Detour hits on-ramp as Starbucks exits

Starbucks may be coming off a long boil—closing some of its New York locations—but San Francisco-based coffee chain Java Detour is just beginning to perk here. The company recently signed a 10-year lease for its first New York location—750 square feet at 600 Third Ave., between East 39th and East 40th streets. The asking rent was $215 a square foot. 

“It’s a high-traffic midtown location,” said Chris Schwart, a broker with Winick Realty Group who represented Java Detour. “They felt that their first store in midtown would get them the exposure they wanted.”

The company, which plans to open for business in March, hopes to lease four additional Manhattan locations within the next two years, Mr. Schwart said. The Third Avenue coffee bar will join Mexican restaurant Qdoba, which will move in next door. Michael Blum, a broker with CB Richard Ellis Inc., represented landlord L&L Holding Co.

For more, download the full article in PDF

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Winick tapped for Rockrose retail

 

Winick Realty Group has been appointed exclusive leasing agent for the retail space at Rockrose Development’s 101 Maiden Lane, on the northwest corner of Pearl Street. Darrell Rubens, managing director, and Joshua Singer of Winick Realty Group are marketing the retail space on behalf of the developer.

101 Maiden Lane is the second phase of the 2 Gold Street residential development, also designed by Avinash K. Malhotra.  Construction is slated for completion in the first quarter of 2009. The retail space will consist of 8,500 s/f on the ground floor and 12,500 s/f on the second floor. The space is at the base of an 850 unit luxury apartment building and boasts over 200 feet of window frontage.  

“Situated within a short walk to everything that the Financial District has to offer, 101 Maiden Lane is a great opportunity for a retailer to take full advantage of this booming and constantly evolving neighborhood,” said Darrell Rubens, who has leased many retail locations in the area.

2 Gold Street houses a 24-hour diner and Sovereign Bank as well as the Montessori Day School.  Directly across the street, Chipotle, Just Salads, Dunkin Donuts and Gristedes supermarket have recently opened. 

For more, download the full article in PDF

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