From the monthly archives: "October 2014"

Real Estate Weekly

TF Cornerstone taps Winick to market Union Square retail site

7-East-14th-Street-Radio-Shack-edit-ver3-Dolce-VinoWinick Realty Group announced that TF Cornerstone has selected Steven E. Baker, president, and Aaron S. Fishbein to exclusively market the prime Union Square retail availability at 7 East 14th Street.

Located between University Place and Fifth Avenue, the 2,400-square-foot space is ideally situated for retailers looking to capitalize on the 24/7 foot traffic coming from not only Union Square but also the nearby Flatiron District.

“We are pleased to once again represent a well-positioned retail property from the TF Cornerstone portfolio,” said Baker. “The excitement and activity in this area of Manhattan is palpable and we look forward to leasing the site to a retailer capable of serving the residential, professional, student, tourist and consumer populations of the Union Square neighborhood.”

The retail at 7 East 14th Street will be available on August 1, 2015. The site offers 24 feet of valuable 14th Street frontage and it sits among such popular retailers as Whole Foods, Nordstrom Rack and DSW. Non-cooking food uses will be accepted.

For more, download the full article in PDF

rew_103014_TF Cornerstone taps Winick to market Union Square retail site

Winick Realty Group is one of New York’s prominent real estate firms specializing in retail leasing and advisory services.  Over the years, Winick Realty has served a broad range of domestic and global clients, with a strong emphasis on long-term representation and expansion and growth strategies.  Winick Realty Group is highly recognized as a forerunner in the retail real estate market. 

 

crains logo

For the Record

92 Laight StreetReines Gallery signed a lease for 1,400 square feet at 92 Laight St. in TriBeCa. The art gallery is opening its first retail showroom in New York City. The tenant was represented by Winick Realty Group’s Aaron Fishbein. The landlord, AA Olympic, was represented by Roxanne Betesh and James Costello of Sinvin. The asking rent and length of the lease were not disclosed.

For more, download the full article in PDF

CRAIN’S_103014_For the Record

Winick Realty Group is one of New York’s prominent real estate firms specializing in retail leasing and advisory services.  Over the years, Winick Realty has served a broad range of domestic and global clients, with a strong emphasis on long-term representation and expansion and growth strategies.  Winick Realty Group is highly recognized as a forerunner in the retail real estate market. 

queens buzz logo

The Changing Face Of LIC Retail

steven baker and aaron fishbein at lic conferenceI attended a conference entitled Queens: The New Retail Frontier. The event was co-hosted by the LIC Partnership in tandem with the International Council of Shopping Centers. The International Council of Shopping Centers [ICSC] mission is to advance the shopping center industry and to promote its role in the commercial distribution of consumer goods and services. The LIC Partnership’s mission is to promote neighborhood economic development and a vibrant and authentic mixed-use community.

Steven Baker of the Winick Realty Group spoke next. He started by talking about a deal they did for a cellular phone company in Flushing in recent years. Steven noted that they were shocked to have to pay Manhattan priced rents for a location in downtown Flushing – but he went on to add that they did – and now that location is one of that company’s highest performing stores in NYC and the northeast.

Winick Realty specializes in retail space. Steven started talking about some of the transactions his firm had done in LIC with companies like Blend, NYC Kids Club, and Sweet Leaf. He noted that less than four years ago he was renting retail space in LIC for $25 per square foot. He said that he recently leased some space for $50 per square foot.

Steven opined that eventually LIC would become home to a big box retailer – and that after the pioneer big box retailer came in – others would follow.

Aaron S. Fishbean of Winick Realty followed Steven. He returned to the map talking about relative advantages of the Queens Plaza / Court Square area such as access to eight subway lines [#7, N, Q, G, E, F, V & R] and twelve bus lines. He also mentioned how other companies like Foodcellar & Co were some of the earliest retail pioneers in LIC.

For more, download the full article in PDF

Queens Buzz-102914-The Changing Face Of LIC Retail

Winick Realty Group is one of New York’s prominent real estate firms specializing in retail leasing and advisory services.  Over the years, Winick Realty has served a broad range of domestic and global clients, with a strong emphasis on long-term representation and expansion and growth strategies.  Winick Realty Group is highly recognized as a forerunner in the retail real estate market. 

New York Real Estate Journal

Holmstrom of Winick represents InVite Health in 400 s/f lease

Interior InViteInVite Health has signed a lease at 221 East 86th St., between Second and Third Aves. This 400 s/f lease marks InVite’s 11th store and third Upper East Side location. Winick Realty Group’s Patty Holmstrom, exclusive broker for InVite, represented the tenant while landlord York Associates was represented by Rafe Evans of Walker Malloy.

“The Upper East Side has recently seen a very healthy rise in both residential and retail activity, coinciding with the anticipated completion of the Second Ave. Subway,” said Holmstrom. “InVite was drawn to 86th Street because of its dense residential population and heavy foot traffic, not to mention the large increase in medical and health-care industry investments at nearby institutions like the Upper East Side location of Cornell Weill-New York Presbyterian Medical Center and the upcoming Cornell University investment on Roosevelt Island.”

InVite Health has been a direct source for all of its nutritional products for over a decade, selling more than 200 high-quality, all-natural vitamins, herbs, minerals, specialized formulas and personal care products. InVite Health also offers free nutritional counseling in each of its 11 locations in New Jersey, South Florida and New York, including stores in Manhattan, Queens, Brooklyn, The Bronx, and New Hyde Park.

For more, download the full article in PDF

NYRE Journal_102814_Holmstrom of Winick represents InVite Health in 400 sf lease

Winick Realty Group is one of New York’s prominent real estate firms specializing in retail leasing and advisory services.  Over the years, Winick Realty has served a broad range of domestic and global clients, with a strong emphasis on long-term representation and expansion and growth strategies.  Winick Realty Group is highly recognized as a forerunner in the retail real estate market. 

 

New York Real Estate Journal

Kaplan, Hochhauser and Diamond of Winick lease space to Dynamex

jordan-kaplan-print-ver-profile-001Dynamex signed a triple net lease for six floors at 34 West 36th St., located between Fifth and Sixth Aves. in the Midtown area. The company will combine its two N.Y. offices in this new location, which includes 1,800 s/f of ground-floor retail and five floors of office space above, each with 1,700 s/f floor plates.

“It is unusual for all of a building’s office leases to expire together, along with the retail space,” said Winick’s Jordan Kaplan, who represented landlord Haddad International along with Winick’s Kenneth Hochhauser and Zach Diamond.

“We were pleased to secure such a strong tenant for the building in a rare opportunity that worked out well for all parties involved.”

“For Dynamex, as a logistics company, it was a perfect match because this location keeps them in the center of the city with great access to their clients, transportation and more,” said Michael Gochman of Transwestern, who represented Dynamex along with Jonathan Schifrin of Jones Lang LaSalle.

“We had been working with Dynamex for a number of years and when this great opportunity came along, we jumped on it,” said Schifrin.

For more, download the full article in PDF

NYRE Journal_102814_Kaplan, Hochhauser and Diamond of Winick lease space to Dynamex

Winick Realty Group is one of New York’s prominent real estate firms specializing in retail leasing and advisory services.  Over the years, Winick Realty has served a broad range of domestic and global clients, with a strong emphasis on long-term representation and expansion and growth strategies.  Winick Realty Group is highly recognized as a forerunner in the retail real estate market. 

New York Real Estate Journal

Block of Winick describes his professional accomplishments

lee-block-258x30020Which professional accomplishment, honor or achievement has meant the most to you and why?

Professionally, advancing and succeeding in NYC has been the greatest achievement I could ask for. There are so many people who work in the real estate industry in NYC and to be able to set yourself apart and build an honorable name and a reputation is a huge accomplishment. I started in the business on a whim and truly worked from the ground up to learn the market and the ebbs and flows of the retail brokerage business. The market is constantly changing and you have to be focused and agile to adapt when necessary. I feel I have done that successfully and it shows.

Which project, deal or transaction was the “game changer” in the advancement of your career?

Leasing 222 West Houston St. to Houston Hall (owners of Heartland Brewery.) After over a year of searching, I found them the space, a 5,000 s/f, almost 100 year old horse carriage house that was completely raw with no utilities in place. I worked hand in hand with the tenant and his design/architect and construction team to transform this property into a restaurant, uplifting an area of this neighborhood while adding several jobs and excitement to an area that was previously under the radar. It was eye-opening.

What advice would you give to those just starting out in commercial real estate?

Stay very informed on all market intel, news and transactions. Do research on anything you are working on and have the answers to questions before they are asked- anticipate and prepare for everything. You want to set yourself apart from the competition as there are countless other brokers vying for the same jobs you will be pitching. Most importantly, your reputation is essential and can be tainted with even the smallest of errors. Be completely honest and transparent – it is better to give bad news when necessary than cover it up. Karma will catch up with you. Lastly, network with everyone. You never know who may be sitting next to you on a plane or at a restaurant.

Who or what has been the strongest influence on your career and why?

When I got started in the business, my uncle (A real estate tax attorney in Maryland at the time) told me, “a year of experience in Manhattan is equal to five years in any other market.” I believe this statement to be true. Working with the top landlords and corporations in NYC has been an unbelievable learning experience and I have been able to tackle projects and assignments that I wouldn’t have the opportunity to work on in any other place in the world. The people with whom I’ve developed strong relationships are now not only work colleagues but friends. Being able to pick up the phone and speak with the head of a public REIT or a family dynasty landlord in NYC is like having an ace up your sleeve in negotiating and those relationships are extremely valuable.

Working for a reputable and strongly-connected company has also been invaluable. Winick Realty Group is the best at what they do, Jeff Winick is the most knowledgeable broker I have encountered in the industry and is very hands-on and has helped me grow to where I am today.

Where would you like to be 10 years from today?

Working in retail brokerage as I am today, but also focusing more on investment and development in and around the metro area. NYC is the most exciting place to be and I can’t see myself doing this job anywhere else. I am looking to get more involved in deals on the equity side, working with other owners to find new opportunities for redevelopment or new ground up development.

I’ve had some experience on this side of the business and would like to continue with it.

How has the increase in social media changed the way you are doing business?

Everything these days is done digitally, whether it’s communicating with clients by email or texting or reading about breaking news on Twitter about a building being sold or a new tenant opening in the market. I believe this will continue and expand as information is the most coveted asset in our industry and social media is proving to be the quickest way to get news and information to the masses.

However, I do believe that face to face meetings are still imperative as you can’t read a situation over email or through social media. I hope that this new age of technology will not change this part of the business. I just see it as another way of communicating and passing information along to others.

For more, download the full article in PDF

NYRE Journal_102814_Block of Winick describes his professional accomplishments

Winick Realty Group is one of New York’s prominent real estate firms specializing in retail leasing and advisory services.  Over the years, Winick Realty has served a broad range of domestic and global clients, with a strong emphasis on long-term representation and expansion and growth strategies.  Winick Realty Group is highly recognized as a forerunner in the retail real estate market.