From the monthly archives: "May 2017"

Real Estate Weekly

Brokers get some face time during ICSC RECon 2017

icsc 2017If the REBNY banquet is the industry’s Oscars, then ISCC RECon is its Coachella.

In the midst of a national retail slump, brokers partied their troubles away under a scorching sun in Las Vegas OVER the past few days. And if they were worried, they sure weren’t showing it.

One thing brokers are on the same page about is urging retailers to change their game.

“I think we’re in a time of fluctuation, and retailers might want to be re-strategizing their look into  how they approach retail in general and how their business needs to change because of all the online pacing,” said Kelly Gedinsky of Winick.

For brokers, Gedinsky said in today’s retail environment, it’s all about hitting the pavement — canvassing, cold calling, and back-to-basics hard work.

“I would say as a firm, part of our culture is to really pound the pavement and I think that has helped us in this environment because we don’t rely on just leasing our stuff off signs, or pulling in the leads based on signs,” said Gedinsky.

“So we do a lot of cold calling, street canvassing and I think that benefits our activity. Especially these days, you can’t rely on just emailing. Now emailing has become so commonplace it’s too easy to press delete. You’ve got to get on the phone and get face-to-face.”

For more, download the full article in PDF

rew_052317_Brokers get some face time during ICSC RECon 2017

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.

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Boxing Gym Backed by Stallone, Bieber Opening Upper East Side Outpost

rumble fitness buildingYo Adrian!

A boxing gym that counts Sylvester Stallone and Justin Bieber as investors is planning to open a location on Third Avenue by the end of the year, according to the company and reports.

Rumble, which has a location in Chelsea and is planning another in NoHo this summer, just signed a lease for 1495 Third Ave., between East 84th and 85th streets, The Real Deal reported.

Rumble will take over the entire five-story building, which used to house S Cavallo Antiques. SMA Equities bought the building last year for $18.2 million, city records show.

The new gym, which opened its first location in Chelsea earlier this year, specializes in boxing-inspired group fitness classes set to hip-hop and mood lighting, Rumble’s website says. The gym’s punching bags are actually filled with water.

The gym’s 10-year lease clocks in at about $1 million per year, Rumble spokeswoman Samantha Wenig said. She explained that the company chose the Upper East Side for its next location because the area’s demographic fits well with Rumble’s core customer.

Noah Neiman, who is a former master trainer at Barry’s Bootcamp and a cast member of Bravo’s “Work Out New York,” owns the company with Eugene Remm, Andy Stenzler and Anthony DiMarco.

Stallone invested in the company, which the New York Post called “the most anticipated group-fitness concept since SoulCycle.”

Winick Realty brokered the deal.

For more, download the full article in PDF

DNA Info_052317_Boxing Gym Backed by Stallone, Bieber Opening Upper East Side Outpost

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.

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Retail flourishes in outer boroughs amid trying times

aaron-fishbein-print-ver-profile-001Across the water, Long Island City in Queens is also experiencing a construction boom. It has a new Aloft hotel — funky, trendy and colorful, as that Starwood brand is known to be — plus a whopping 36 hotels on the way. Not to mention the neighborhood has an existing 12,000 apartments and another 22,000 units coming online in the next two years alone, making it a bright spot for future retail growth.

Starbucks has already rented in Long Island City, while Western Queens’ first Chipotle is open at 26-16 Jackson Ave. Other retailers, from wine shops to pharmacies and banks, are going on site visits in the area.

Many young professionals — some with kids — live in the Queens Plaza area but work in Manhattan. They pump life and bucks into the retailers before and after work.

“We are already consulting on new big-box store locations,” says Aaron Fishbein, director of Winick Realty Group. “Residents are currently waiting to buy a cup of coffee, and retailers want to lock in [lower] rents and not miss out like they did in Williamsburg [in Brooklyn].”

For more, download the full article in PDF

NY Post_052317_Retail flourishes in outer boroughs amid trying times

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.

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ICSC 2017 RECon attendees on adjusting to a new reality

steven baker and darrell rubensThe mood from the floor of the International Council of Shopping Centers’ RECon Monday was a defensive optimism, colored by a recognition that leasing volume was healthy in part because rents have declined.

“Right now, landlords are trying to embrace the new reality of lower rents and bigger contributions,” said Robert Futterman, of the retail-focused brokerage RKF.

But at the same time, tenants are closing some stores, and “right-sizing” their location, and “that’s keeping the brokers very busy,” Futterman added.

The halls were packed earlier Monday, crowded around the booths of brokerages like CBRE, JLL, Newmark Grubb Knight Frank and Marcus & Millichap.

“We all read about the negativity to the industry, but it’s expansion when I speak with brokers,” said Adam Weinblatt, a broker at NGKF. But he acknowledged that pricing has shifted, and there may be more to come.

“Rents have not bottomed out, but they will soon,” he said.

Volume was steady, said Joe Jacobson, a partner with the landlord Madison Capital. “Deals are getting done at realistic levels.”

There was broad agreement on which uses were most active.

“Food, wellness, fitness,” said William Friedland, of Friedland Properties.

David Gomez, of investment sales-focused brokerage Fountain Realty Group, said he was counseling buyers to focus on buying spaces that can accommodate tenants with food uses.

“If you can vent it, you can rent it,” is Fountain’s catchphrase du jour, Gomez said.

Brian Lindley of Chick-fil-A said he saw only a small decline in New York City rents this year compared with last year. But in part he said that’s because his company is looking at “high-profile” neighborhoods.

Generally, landlords are willing to drop rents, brokers said.

“Landlords have a [far] different attitude,” this year, said Peter Braus of Lee & Associates NYC.

Meridian Capital Group held a lunch for its clients, where attendees included Thor Equities’ Joe Sitt, Wharton Properties’ Jeff Sutton and Alex Adjmi. Ralph Herzka gave a speech about the firm’s growth, which was followed by a song and dance show put on by tiny robots. “This is the future, guys!” Herzka said.

Several insiders said they were pleasantly surprised by the number of people walking the halls.

“I’m shocked to see as many people,” said Colliers International’s Bradley Mendelson. “But I don’t think there are as many retailers.”

“We used to play football [in the hall],” said Elizabeth Friedland Meyers, because there were so few attendees. But on Monday there was no space for such games.

By the late afternoon, however, it slowly thinned out, and attendees were spotted trying to figure out which of the evening parties were worth checking out.

For more, download the full article in PDF

THE REAL DEAL_052317_ICSC 2017 RECon attendees on adjusting to a new reality

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.

Real Estate Weekly

Inside RECon2017

danielle winick and kelly gedinskyFresh off closing a $1.67 billion construction loan for the American Dream mega-mall in Secaucus, Triple Five’s Paul Ghermezian was upbeat about the years-long venture during the first full day of RECon 2017 at Las Vegas Convention Center today. Winick Realty’s Danielle Winick and Kelly Gedinsky were all business at their kiosk while Ikea’s Russian team was confident recent political turbulence won’t stop the company’s advance.

For more, download the full article in PDF

rew_052217_Inside RECon2017

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.

 

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Netcost Market Signs 38,000-Square-Foot Lease at Cammeby’s Neptune/Sixth in Coney Island

626 sheepshead bay roadCammeby’s announced that NetCost Market has signed a 38,000-square-foot lease to relocate its Coney Island location to Neptune/Sixth, Cammeby’s new mixed-use neighborhood destination. The regional supermarket will serve as the anchor retail tenant of 532 Neptune Avenue.

The lease enables NetCost to expand from its current location in Coney Island within a neighboring property. The supermarket chain operates nine locations throughout New York, New Jersey and Philadelphia.

“NetCost Market is an important fixture and retail service in the Coney Island community, so we are extremely excited that this quality regional grocery chain has decided to relocate its neighborhood store to Neptune/Sixth,” stated Jacob Cohen, executive vice president of development at Cammeby’s. “As work begins on the project’s second phase, we expect that the presence of NetCost will play an important role in attracting tenants to the remaining available retail space.”

Neptune/Sixth is set to be home to a diverse mix of both retail shops and service-oriented business, while adding new amenities that the community can use and share, including ample parking. Neptune/Sixth also features brand new office space that several businesses will call home.

In recent months, Cammeby’s has announced lease agreements at 532 Neptune Avenue with Capital One, CVS Pharmacy and Apple Bank – all of which have been tenants of the former shopping center property that Neptune/Sixth will encompass. Additionally, Cammeby’s recently announced that department store DII will anchor Neptune/Sixth’s under-construction first phase, a seven-story commercial and retail building at 626 Sheepshead Bay Road.

“Cammeby’s has specifically targeted the types of retailers that Coney Island residents have communicated a desire to see at Neptune/Sixth,” stated Lee Block, executive vice president at Winick Realty Group, the exclusive retail leasing agent for Neptune/Sixth. “NetCost’s new space at 532 Neptune Avenue will allow the grocer to expand its offerings to meet the ever-growing demand in the neighborhood for top-quality foods that are rigorously sourced but reasonably priced.”

Designed by New York-based S9 Architecture, Neptune/Sixth is the comprehensive redevelopment of the former Trump Village Shopping Center and Royal Palace Baths.

For more, download the full article in PDF

mann newswire-052217-Netcost Market Signs 38,000-Square-Foot Lease at Cammeby’s Neptune-Sixth in Coney Island

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.