From the monthly archives: "May 2012"

Commercial Observer Now

Daycare Service Signs at 4 New York Plaza

Childrens Creative Learning Centers has signed a lease to take a 5,500-square-foot retail space at Four New York Plaza for an early childhood education and care center, the company announced.

CCLC operates another such facility at 90 Park Avenue, which opened earlier this year.

“In meeting with New York City businesses, we’ve already seen a tremendous interest in backup care services, and CCLC is thrilled to bring this much-needed service to employers and hard working parents,” Fran Durekas, CCLC’s founder and chief development officer, said in a statement that was released for the deal at 90 Park. “Our goal is to give parents the flexibility and peace of mind to make last-minute child care decisions by providing businesses with a trusted and safe environment that they can offer to employees.”

Andrew Cohen, an executive at CCLC, told The Commercial Observer that the company had been searching for a Downtown location.

“We were in Midtown but we have a lot of clients Downtown where we knew there was a lot of demand,” he said.

CCLC mainly works under contract with companies to provide day care and education services for their employees’ children.

Four New York Plaza, where CCLC will be opening later this year, was sold in recent months to an investment partnership between HSBC and Edge Fund Advisors. Harbor Group International purchased the roughly one million-square-foot office tower at the depths of the recession for a little over $100 million and sold it to the partnership for more than double what it paid, about $265 million.

The deal with CCLC was one among a number of leasing transactions Harbor arranged at the tower that helped it so dramatically boost its value in such a short a short period. Harbor brought U.S. News and World Report, the Daily News and also the publisher of the National Enquirer, American Media, to base floors at the property. JP Morgan Chase occupies the bulk of the tower.

In the deal with CCLC, Jonathan Krivine, a retail leasing broker at Newmark Grubb Knight Frank Retail, represented the tenant. Lee Block and Darrell Rubens, executives at Winick Realty, represented ownership, which started with Harbor and transitioned to HSBC and Edge Fund Advisors before the lease was finished.

For more, download the full article in PDF

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7-Eleven to open on Upper East Side

Winick Realty Group said that 7-Eleven has continued its plans for expansion in the New York market by leasing a new 2,300-sq.-ft. storefront at 1235 Second Avenue, on the corner of East 65th Street.

The store, which was previously occupied by restaurant Asia Grill, sits at the base of a residential building in one of the most affluent sections of the Upper East Side. 7-Eleven is poised to draw from not only the heavy residential population in the area but the foot traffic generated by nearby Hunter College, as well as two movie theaters and  three hospital centers in the area.

For more, download the full article in PDF

CHAIN STORE AGE 05-30-12

My Upper West

UWS Openings

Also mentioned in March that three new stores were coming to the Columbus Square development. One of those is a Starbucks, which leased 1,200 square feet at 805 Columbus (at 100th).

Looks like they’re also getting ready to open, as MUW readers Amelia, Kevin, and Paul all sent in pics of the “coming soon” sign (that’s Paul’s shot).

I reached out to Winick Realty, the firm that brokered the lease, to see if they knew when the opening might be, but they don’t have any details. Until then, I’m sure you can find another Starbucks somewhere else in the neighborhood.

For more, visit http://myupperwest.com/upper-west-side/uws-openings-52912/

The Goods

These creative deals of 2011 are all winners

Two 2011 Retail Deal of the Year awards will be chosen based on the most inventive and noteworthy deals of the past year. The winners will be announced at a cocktail party hosted by the Retail Committee of the Real estate Board of New York (REBNY) on Tuesday, June 12 at the 101 Club.

The two awards up for grabs are The Most Creative Deal in Manhattan and The Retail Deal Which Most significantly Benefits the Manhattan Retail Market.

The Successful Leasing Effort and Opening of TJ Maxx

This deal at 14 Wall St. was made by broker Darrell Rubens of Winick Realty Group, LLC, representing the ownership, with Peter Ripka of Ripco Real estate representing the fashion retailer. This was also a rare cooperative entry by the brokers on both sides of the deal.

The entire transaction was the result of having unused basement space that was leftover from a previous lease made in February of 2000 with Equinox Gym. The fitness club had signed a 20-year lease for the ground floor, second floor and mezzanine of 14 Wall St. Considered to be taking a risk on the property at the time, Equinox was given the right to seal off the entrance to the lower level, making it entirely inaccessible.

The notable part of the TJ Maxx deal was the ability to negotiate a lease with the building owners, Capstone Equities, and their agent, Rubens at Winick Realty Group, to lease this lower level for a retail space. After over a year of negotiations, TJ Maxx was able to come to an agreement to lease a ground floor entrance and this lower level (totaling about 32,000 square feet) because of the desire to improve shopping in the primarily office district, which is rapidly evolving with an increasing residential community.

For more, download the full article in PDF

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Real Estate Bisnow

7-Eleven is opening a 2,300 SF store at 1235 Second Ave. RKF’s Ariel Schuster repped the tenant, while Winick Realty Group’s Darrell Rubens and Annie Shinn repped owner Madison Capital.

For more, download the full article in PDF

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Safe haven for city creatures

While it’s not quite alligators in the sewers, New York City is home to far more wildlife than many realize.

And on June 2, the city’s first wildlife rehabilitation and education center will open to the public, with a two-day open house at its Upper West Side location.

Since 1998, the Wild Bird Fund has been rescuing wild animals in the city; volunteers often cared for the injured critters in their homes. But now the group has raised enough money to open a two-story, 1,300-square-foot facility, which will include a pool for waterfowl, a surgery room, and space for more than 60 birds and other animals.

For more, download the full article in PDF

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