From the monthly archives: "July 2017"

Real Estate Weekly

Schuss Takes the Lead in Doggie Deal

Biscuits & Bath, a full-service dog care business with 11 locations throughout Manhattan, has signed a lease for its first Lower Manhattan spot at the base of 71 Broadway.

The location, which is set to open in early 2018, will be situated across from the incoming Whole Foods and near Dean & Deluca.

Winick Realty Group’s Matthew Schuss said the Biscuits & Bath location will offer a range of dog care services, including day care, boarding, walking, grooming, training, veterinary care and transportation and sell retail products.

“Over the last 10 years, Lower Manhattan has experienced an incredible residential boom with more than 60,000 people currently living down there and more coming every year,” said Schuss.

“However, the abundance of landmarked buildings left few opportunities for the retail services that these residents require, making Biscuits & Bath a much-needed amenity for not only the building but for the entire neighborhood.”

Biscuits & Bath leased 3,100 s/f of space that had previously been home to The Factory Shoe Outlet for 60 years.

Schuss and Winick Realty Group executive Darrell Rubens represented both tenant and landlord, Equity Residential.

For more, download the full article in PDF

rew_072617_Schuss takes the lead in doggie deal

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 Observer

Keep It Small: The Leases Where Mini Is Marvelous

While bigger is often considered better, when it comes to leases for some small businesses, the opposite can be the case.

Jewelry designer Angie Marei was looking to move her jewelry business out of her home office in Dumbo, Brooklyn, but wanted to remain nearby. She needed a space where she “could take client appointments, showcase my work in a showroom setting and also have space for my jewelry bench,” she said.

In searching around Brooklyn and Manhattan, she kept finding spaces that were just too large for her needs. But at Two Trees Management Company’s 45 Main Street in Dumbo, she found a cozy 187 square feet. She moved in on March 15 and opened Diaboli Kill Jewelry Showroom for business on June 1.

“I searched all around the Brooklyn and Manhattan, and most offices were too big for my needs. I was looking for a nice private office where I could take client appointments, showcase my work in a showroom setting and also have space for my jewelry bench. Since jewelry doesn’t take up much physical space, this 187-square-foot office was perfect for me.”

Speaking of 45 Main Street, designer Nicole Meléndez occupies 269 feet in the building and said that for her athleisure and swimwear studio, the square footage is just right.

“I’m in business to turn a profit, and it is not practical to get a big space for two to three people to be in, and [it] will be an expense that will have me chasing my tail,” Meléndez said.

The building has some shared spaces—a conference room on the floor and a fully furnished rooftop—which she and her employees can use.

“I’d rather get a well-designed space in a bright and comfortable environment that allows me to have a space to work but that I don’t have to work only to pay [for] the space,” she said.

For Rawmantic Chocolate owner Kasia Bosne, “the bulk of her business comes from selling her chocolate to other retail locations so she needed to have a presence but didn’t need a large space as long as there was a kitchen included for preparing chocolates on site,” Winick Realty Group’s Zach Diamond, the tenant’s representative, said via a company spokeswoman.

So when Rawmantic’s old landlord informed the organic chocolate company that it would be redeveloping the building where it was located, it found a 320-square-foot retail space at 1053 First Avenue between East 57th and East 58th Streets, where it will be opening in September, Diamond said.

And at 21 Crosby Street, Eastern Consolidated’s James Famularo did a series of small deals for boutique retailers Dinosaur Designs, Max-Bone, Fueguia and Annabel Ingall. He represented the landlord, Corigin Real Estate Group, and procured the tenants. The reason the tenants wanted spaces, all 400 square feet or smaller, came down to dollars and cents. “Bigger spaces were too expensive,” he said, referring to Crosby Street’s high rents. And the landlord knew as much, cutting larger spaces down to smaller ones to make them rentable to luxury goods shops.

For more, download the full article in PDF

NY Observer-072617-Keep It Small

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.

Citybizlist

Winick Realty Group Leases Retail at 71 Broadway to Biscuits & Bath

Biscuits & Bath, the only full-service dog care business in New York City with eleven locations throughout Manhattan, has signed a lease for its first Lower Manhattan location at the base of 237 apartments at 71 Broadway.

The location, which is set to open in early 2018, will be situated across from the incoming Whole Foods and in close proximity to Dean & Deluca, both of which are indicators of the strong residential population that will make up Biscuits & Bath’s customer base, according to Winick Realty Group’s Matthew Schuss. The Biscuits & Bath location will offer a full range of dog care services—including day care, boarding, dog walking, grooming, training, veterinary care and transportation—as well as sell retail products.

“Over the last 10 years, Lower Manhattan has experienced an incredible residential boom with more than 60,000 people currently living down there and more coming every year,” said Schuss. “However, the abundance of landmarked buildings left few opportunities for the retail services that these residents require, making Biscuits & Bath a much-needed amenity for not only the building but for the entire neighborhood.”

Biscuits & Bath leased 3,100 square feet of space that had previously been home to The Factory Shoe Outlet for 60 years. Its location offers an entrance on Broadway in the heart of Downtown Manhattan, allowing the location to pull customers from as far west as the West Side Highway and as far east as the FDR Drive. The landmarked building, which was built in the 1800s and housed the flagship offices for the United States Steel Corporation, was one of the first residential conversions to take place in Lower Manhattan in the 1990s.

Schuss and Winick Realty Group executive Darrell Rubens represented both Biscuits & Bath and landlord Equity Residential in the lease transaction.

For more, download the full article in PDF

citybiz-072417-Winick Realty Group Leases Retail at 71 Broadway to Biscuits & Bath

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.

mann newswire logo

Winick Realty Group Expands Commercial RE Efforts with Addition of Investment Sales & Commercial Leasing Division

david-workman-print-ver-profile-001Winick Realty Group, founded in 1982 as the second-ever commercial leasing firm solely focused on retail, has announced an expansion of its commercial real estate efforts for the first time in its 35-year history.

The firm has hired David Workman, formerly Executive Managing Director of Savitt Partners, to lead a team of brokers who will handle investment sales, office leasing, 1031 exchanges, land sales and a host of other commercial real estate services on a local, national and international basis. The new investment sales and commercial division will leverage Winick’s existing retail relationships, as well as harness the incredible analytics and data efforts led by Executive Vice President Kenneth Hochhauser, in order to bring new, expanded levels of service to the Winick Realty Group brand.

“Our vision is to expand upon and establish even more resources, such as investment, acquisitions, dispositions and commercial leasing, within the array of services this iconic firm already provides,” said Workman. “For more than three decades, they have specialized in retail leasing and now, with this new department, landlords and tenants alike can also take advantage of an expertise in all aspects of commercial real estate in both the leasing and sales arenas. We are excited to add additional services for the company to offer their clients.”

Workman comes to Winick Realty Group with more than 30 years of experience, during which time he has been involved in investment sales and leasing transactions valued over $1 billion. His career has run the gamut from commercial leasing to investment sales to the sale of land and air rights.

Over the course of his career, Workman executed multiple 1031 exchanges in New Jersey, Florida and New York, among others. Workman acted as buyer broker for a foreign investment group in the acquisition of two off-market downtown office buildings at 67 Broad Street (now 75 Broad Street) and 39 Broadway, totaling approximately 1.2 million square feet. He sold seven supermarkets and five CVS locations totaling approximately 400,000 square feet in Georgia, South Carolina and North Carolina to The Rosen Organization, as well as 1,000 acres of land at the Tennanah Lake Golf & Tennis Club in Roscoe, NY to one of the largest landlords in Palm Beach. Workman represented Pace University in the off-market acquisition of 100,000 square feet at 106 Fulton Street; sold more than 100,000 square feet of air rights at 310 West 52nd Street to Sant Chatwal, the developer of the Dream Hotel; and oversaw the marketing and eventual sale of 80-90 Livingston Street, a multi-use building comprised of existing retail and residential units with development rights in Brooklyn.

On the commercial leasing side, Workman has successfully completed commercial leasing efforts on behalf of Wilhelmina Models, Fiduciary Trust, First Investors, Metromedia, Masco Corporation, Met Life, Zurich Reinsurance and many others. Coincidentally, the only retail deal Workman has ever completed was with Winick Realty Group, having worked with Executive Vice President Darrell Rubens a decade ago to lease more than 23,000 square feet to Gold’s Gym at 90 John Street.

Workman leads a team that includes new hires Elana Tsyganko and Max Kostikov, both of whom come to Winick with more than six years of commercial leasing and sales experience, as well as salesperson Matthew Schwartz. Derek Weinberger, who has been an Investment Sales Associate at Winick Realty Group since 2015, where he focuses on properties in New York City and Long Island, will now be working with Workman as well. The team brings together years of experience in real estate investment and deal structuring and they are poised to take on any job required to give their clients the insight and expertise they need.

“I am honored to join Winick Realty Group in this effort and I am heartened to know that I have their full support,” said Workman. “I like the fact that CEO Jeff Winick and President Steven Baker, along with all of the partners here at Winick Realty Group, believe in what we are doing and they are completely behind us. One of the most attractive things about this new venture is being able to have the support of a cutting-edge, market-savvy team. Given the immediate reaction of the entire Winick organization in bringing their potential business opportunities and relationships, we expect to be very busy.”

“It is a pleasure to welcome David Workman and our entire new commercial leasing and investment sales team as they lead Winick Realty Group into its next chapter,” said Steven E. Baker, President of Winick Realty Group. “We look forward to being able to offer our clients a full range of commercial leasing and investment sales services and I am confident we have the right team in place to make this new division a great success.”

For more, download the full article in PDF

mann newswire-072417-Winick Realty Group Expands Commercial RE Efforts with Addition of Investment Sales & Commercial Leasing Division

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 Observer

Letting the Cat Out of the Bag: Biscuits & Bath Nails First Lower Manhattan Deal

71 broadwayIn the dog days of summer, Biscuits & Bath has sealed a deal to bring its business to Lower Manhattan for the first time, Commercial Observer has learned.

The full-service dog care business, which has 11 locations throughout Manhattan, has leased 3,100 square feet at the base of 71 Broadway, which was home to The Factory Shoe Outlet for 60 years, according to a press release from Winick Realty Group provided to CO. The asking rent in the 13-year deal was $90 per square foot, a Winick spokeswoman indicated.

“Over the last 10 years, Lower Manhattan has experienced an incredible residential boom with more than 60,000 people currently living down there and more coming every year,” Winick’s Matthew Schuss said in prepared remarks. “However, the abundance of landmarked buildings left few opportunities for the retail services that these residents require, making Biscuits & Bath a much-needed amenity for not only the building but for the entire neighborhood.”

Schuss and Winick’s Darrell Rubens represented Biscuits & Bath and the landlord, Equity Residential, in the deal.

The building at 71 Broadway, also known as 65 Trinity Place, is at Rector Street. There remains 3,502 square feet of available retail in the residential building (previously leased to Champs Deli and a hair salon). Above are 237 apartments with studios starting at $3,055 per month, one-bedrooms at $3,535 a month and two-bedrooms at $4,820 monthly, according to Equity Residential’s website.

The new Biscuits & Bath is slated to open early next year.

For more, download the full article in PDF

NY Observer-071917-Biscuits & Bath Nails First Lower Manhattan Deal

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.

globe street logo

Winick Realty Expands Commercial Division With Workman Hire

max-kostikov-print-ver-profile-001David Workman, a former executive managing director with Savitt Partners, has joined Winick Realty Group as part of the firm’s first effort to expand its commercial real estate services operations in its 35-year history.

The retail commercial leasing firm reports it has hired Workman to lead a team of brokers charged with investment sales, office leasing, 1031 exchanges, land sales and a host of other commercial real estate services responsibilities on a local, national and international basis. The new investment sales and commercial division will leverage Winick’s existing retail relationships, as well as harness the firm’s analytics and data efforts led by EVP Kenneth Hochhauser.

“Our vision is to expand upon and establish even more resources, such as investment, acquisitions, dispositions and commercial leasing, within the array of services this iconic firm already provides,” says Workman. “For more than three decades, they have specialized in retail leasing and now, with this new department, landlords and tenants alike can also take advantage of an expertise in all aspects of commercial real estate in both the leasing and sales arenas.”

Workman has more than 30 years of commercial real estate investment sales and leasing experience. His career has run the gamut from commercial leasing to investment sales to the sale of land and air rights. Over the course of his career, Workman executed multiple 1031 exchanges in New Jersey, Florida and New York, among others.

Workman also acted as buyer broker for a foreign investment group in the acquisition of two off-market downtown office buildings at 67 Broad St. (now 75 Broad St.) and 39 Broadway, totaling approximately 1.2 million square feet. He sold seven supermarkets and five CVS locations totaling approximately 400,000 square feet in Georgia, South Carolina and North Carolina to The Rosen Organization, as well as 1,000 acres of land at the Tennanah Lake Golf & Tennis Club in Roscoe, NY to one of the largest landlords in Palm Beach.

Among some of his other high-profile deals include his representation of Pace University in the off-market acquisition of 100,000 square feet at 106 Fulton St. He also sold more than 100,000 square feet of air rights at 310 West 52nd St. to Sant Chatwal, the developer of the Dream Hotel, and also oversaw the marketing and eventual sale of 80-90 Livingston St., a multi-use retail and residential building with development rights in Brooklyn.

On the commercial leasing side, Workman has successfully completed commercial leasing efforts on behalf of: Wilhelmina Models, Fiduciary Trust, First Investors, Metromedia, Masco Corporation, Met Life, Zurich Reinsurance and many others.

Workman leads a Winick Realty Group team that includes new hires Elana Tsyganko and Max Kostikov, both of whom come to Winick with more than six years of commercial leasing and sales experience, as well as salesperson Matthew Schwartz.

Derek Weinberger, who has been an investment sales associate at Winick Realty Group since 2015 where he focuses on properties in New York City and Long Island, will be working with Workman as well.

For more, download the full article in PDF

globe street-071917-Winick Realty Expands Commercial Division With Workman Hire

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.