From the monthly archives: "November 2010"

Custom Suits for FiDi; World AIDS Day at Saks

FINANCIAL DISTRICT— A tipster alerts us to the news that the retail space at 30 Broad Street, which was once being eyeballed by Barneys, is going to become a custom suit-maker called MySuit. The chain already has locations in Herald Square and on Madison Avenue. “That corner is coming from far,” he writes. “Thee years ago Hermès and Canali were both vacant spaces, the old H&R Block was there at 30 Broad (with a very ugly footbridge connecting 30 Broad to the NYSE), and the entrance to Setai/SHO (now a Michelin-starred restaurant) was a Dunkin Donuts (yes it was!!) The street itself had no cobblestone or cute benches…but the palace of insanities opened (aka 15 Broad) and everything changed.”

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Spirit Halloween leased 870 pop-up stores in 47 states and Canada. Many of these locations will remain through January as ToyZam! Stores, which will sell toys for the holidays. The company leased a record number of pop-up stores in Manhattan this year, according to Winick Realty Group’s Alexander Hill, who represented the company in New York City leases. Locations included an 11,000 square-foot space at 655 Avenue of the Americas at 20th Street, and 312 First Avenue, between 18th and 19th Streets, formerly occupied by Blockbuster.

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Off-price retailer Syms has signed a lease for 34,000 square feet of retail space in Manhattan for its new flagship location. The space is located at 530 Fifth Ave. It will be a joint store with Filene’s Basement, which the company acquired in 2009. The store will consist of 6,500 square feet on the ground floor, 9,500 square feet on the lower level and 18,000 square feet on the second floor. Darrell Rubens and Lori Shabtai of Winick Realty Group represented the landlord, The Moinian Group, in lease negotiations.

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Fidi’s Growing Population Now Showing in Stores’ Cash Registers

By Darrell Rubens, Senior Managing Director, Winick Realty Group LLC

Walking through the Financial District, one is immediately struck by just how much the area has changed.

In the last three years alone, 6,000 new apartment units were added to the inventory and more are coming. The new Forest City Ratner building at 8 Spruce Street is set to have 1,100 new apartments and the historic art deco 70 Pine, formerly the headquarters of AIG, is part of a massive redevelopment project along with neighboring 74 Wall that will create both a luxury condominium and a boutique hotel.

With all the new housing and the addition of approximately 3,800 hotel rooms in the area—not to mention the 14 subway lines connecting Wall Street to the rest of the city—it’s no exaggeration to say Downtown Manhattan is swarming with residents, visitors, office workers and shoppers. And that is showing up in the register receipts of restaurants and retailers all over the area.

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Space NK To Open Fifth Freestanding Store

Beauty retailer Space NK is expanding its reach in the U.S.

On Nov. 22, the retailer, which currently operates four freestanding stores in the U.S., will open a new store at 968 Lexington Avenue in New York City. Other locations for the brand in the U.S. include two Manhattan stores — a SoHo flagship and a unit on the Upper West Side — and doors in Scarsdale, N.Y., and Short Hills, N.J.

In addition to the freestanding store, Space NK recently opened five new store-within-store boutiques at Bloomingdale’s, bringing the total to 14 locations with the department store. Current locations include the 59th Street flagship, SoHo, Roosevelt Field and White Plains, N.Y.; Chestnut Hill, Mass.; San Francisco, Sherman Oaks, Newport Beach, South Coast Plaza, Century City and Santa Monica, Calif.; Short Hills, N.J., as well as Boca Raton and Aventura, Fla. Space NK expects to open additional stand-alone and Bloomingdale’s locations across the U.S. in 2011, noted Space NK founder Nicky Kinnaird.

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Clothing Retailer Syms Signs New 34,000-SF Lease at The Moinian Group’s 530 Fifth Avenue

The Moinian Group, one of New York’s largest commercial real estate developers and owners, has announced a new 34,000-square-foot lease for off-price clothing retailer, Syms, at its 530 Fifth Avenue office tower in Midtown Manhattan. The announcement was made by The Moinian Group’s Senior Associate Director Kimia Shadrokh.

Darrell Rubens, senior managing director, and Lori Shabtai, executive vice president for Manhattan-based Winick Realty Group LLC, represented the property for the building owner, The Moinian Group, while The Lansco Corp. represented Syms in the deal.

530 Fifth Avenue, situated between 44th and 45th Streets, serves as the new flagship store for Syms, a Paramus, New Jersey-headquartered clothing chain with stores in 12 states. The new retail location is a joint venture with Filene’s Basement, which Syms acquired in 2009. The store measures 6,500 square feet on the ground floor, 9,500 square feet on the lower level and 18,000 square feet on the second floor.

For more, download the full article in PDF

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