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Real Estate Weekly

Chipotle opens first Bronx outpost

RiverdalecrossingChipotle Mexican Grill, Inc. has signed a lease for 2,165 s/f at Riverdale Crossing in the Bronx, announced Joseph A. Farkas, president of Metropolitan Realty Associates (MRA), developer of the new 162,000 s/f shopping center.

Riverdale Crossing, slated for a grand opening in July 2014, is now 98 percent leased with the addition of Chipotle.

MRA was represented in the signing by John Hanlon of CBRE, who continues to market the last two remaining units at the premier property. Chipotle was represented by Diana D. Boutross and Kenneth Hochhauser of Winick Realty.

For Chipotle, which has more than 900 restaurants nationwide, Riverdale Crossing marks its first location in the Bronx.

“Riverdale Crossing’s location has attracted a strong mix of national, regional and local retailers and services,” said Farkas.

“It is a premium retail property in a densely populated area accessible by subway, bus, car and by pedestrians. All of those ingredients spell success for this development.”

The newest tenant joins a tenant roster anchored by a freestanding 118,000 s/f BJ’s Wholesale Club. Others include Bank of America, T-Mobile, Petco, Subway, Buffalo Wild Wings Grill & Bar, Smashburger and the recently-signed CityMD, a Manhattan-based urgent-care provider.

MRA is developing Riverdale Crossing with its long-time equity partner Angelo, Gordon & Co. The five-acre site is located between the Major Deegan Expressway and Broadway, and adjacent to New York City’s busy 238th Street subway stop. The center also offers both surface parking and a rooftop deck.

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rew_040914_Chipotle opens first Bronx 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.

New_York_Post_logo

Bay Kitchen Bar opens with heavy flavor of local catches

kenneth-hochhauser-258x30019Chipotle is coming to the Bronx.

The popular Mexican chain is opening in 2,165 square feet at Riverdale Crossing, said Joseph A. Farkas, president of Metropolitan Realty Associates, the developer of the new 162,000 square-foot shopping center along with longtime equity partner Angelo, Gordon & Co.

This will mark Chipotle’s first location in the borough after rolling out 900 locations nationwide.

Riverdale Crossing, spanning five acres between the Major Deegan Expressway and Broadway, is slated to open in July 2014. It is now 98 percent leased.

Chipotle was represented by Diana D. Boutross and Kenneth Hochhauser of Winick Realty, while John Hanlon of CBRE represented MRA.

For more, download the full article in PDF

NY Post_033014_Bay Kitchen Bar opens with heavy flavor of local catches

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

Mishaan of Winick Realty Group represents buyer and seller in $3.4 million sale of 592 East 183rd St., Bronx

Winick Realty Group LLC has brokered the sale of the 11,500 s/f single-story building at 592 East 183rd St., located near one of the busiest shopping districts in the borough.

Senior managing director Zach Mishaan represented both the anonymous buyer and seller Rudy Izzo, whose family owned the property for 40 years, running a supermarket in the space before Rite Aid moved in 17 years ago. Rite Aid remains the current tenant, with multiple years left on their lease.

“A large-box retail location of this type is rare for the Arthur Ave.business district,” said Mishaan, who currently represents four additional investment sales opportunities throughout New York City and the outer boroughs. “This was a good opportunity to secure a piece of a densely-populated residential and retail area at below market rate. I believe the buyers saw strong potential for upside in years to come.”

The building at 592 East 183rd St. was purchased for $3.4 million, which equated to a 6.1 capitalization rate. The retail space currently rents for below $20 per s/f.

For more, download the full article in PDF

NYRE Journal_092512_Mishaan of Winick Realty Group represents buyer and seller in $3.4 million sale of 592 East 183rd St., Bronx

Real Estate Weekly

Buyer Jumps on Bronx Retail Opportunity

Zach Mishaan is a broker at Winick Realty GroupWinick Realty Group LLC has brokered the sale of the 11,500 s/f single-story building at 592 East 183rd Street in the Bronx.

Senior managing director Zach Mishaan represented both the anonymous buyer and the seller, Rudy Izzo, whose family owned the property for 40 years, running a supermarket in the space before Rite Aid moved in 17 years ago. Rite Aid remains the current tenant, with multiple years left on its lease.

“A large-box retail location of this type is rare for the Arthur Avenue business district,” said Mishaan. “This was a good opportunity to secure a piece of a densely-populated residential and retail area at below market rate.”

The building was purchased for $3.4 million, a 6.1 capitalization rate.

For more, download the full article in PDF

rew_082912_Buyer Jumps on Bronx Retail Opportunity

Real Estate Weekly

Winick Brings Trio of Retail Sites to Market

Winick Realty Group LLC senior managing director Steven L. Weissmann announced the availability of three big-box retail opportunities in the outer boroughs of New York City.

“Each of these availabilities represents a unique opportunity for large-use tenants to expand into the outer boroughs,” said Weissmann.

“They sit on some of the busiest retail corridors in the area, offering great exposure to shoppers in The Bronx, Brooklyn and Queens.”

A development opportunity is available on the Steinway Street corridor in Long Island City. Weissmann is representing the retail at 34-30 Steinway Street on behalf of owners Weinstock and Lamp Company, Inc., who plan to combine multiple storefronts to create 30,000 s/f of ground-floor retail atop 10,000 s/f of lower-level space that’s accessible by a ramp.

A large retailer or restaurant user would be ideally situated to bring in vehicular traffic from the Triborough and 59th Street Bridges, as well as foot traffic from the nearby Kaufman Astoria movie theater, UNO Chicago Grill and School of the Arts.

In the Fordham Heights section of The Bronx, Weissmann and associate director Alexander Hill are marketing a retail site for sale or lease at 350 East Fordham Road.

This multi-level retail location offers signage possibilities in a district populated by national tenants like Sears, Gap, Walgreens and AT&T.

The site is comprised of 15,000 s/f on the ground floor, 12,000 s/f on both the lower level and second floor, and 4,000 s/f on the third floor. Weissmann and Hill are marketing the property on behalf of 350 East Fordham Road LLC.

Finally, Weissmann is marketing a high-visibility retail corner at 1245 Broadway on behalf of KMA Realty LLC.

Located on the corner of Greene Avenue in the Bushwick section of Brooklyn, the site offers 9,000 s/f of ground-floor space with 90 ft. of frontage on Broadway and 100 ft. of frontage on Greene Avenue.

“A clothing store or large discounter would do exceptionally well in this area,” said Weissmann, who pointed to popular co-tenants like Payless Shoe Source, Dunkin’ Donuts and Associated Supermarket, all of whom drive traffic to the space.

For more, download the full article in PDF

rew_081512_winick brings trio of retail sites to market

Bronx Single-Level Retail Building Sells for $3.4M

Zach Mishaan is a broker at Winick Realty GroupWinick Realty Group L.L.C. has brokered the $3.4 million sale of 592 East 183rd Street, an 11,500-sq.-ft., single-story building in the Bronx. Senior Managing Director Zach Mishaan represented both the anonymous buyer and seller, Rudy Izzo.

Izzo’s family owned the property for 40 years, running a supermarket in the space before Rite Aid moved in nearly two decades ago. The pharmacy remains the current tenant at the property and has several years remaining on its lease.

“A large-box retail location of this type is rare for the Arthur Avenue business district,” said Mishaan. “This was a good opportunity to secure a piece of a densely-populated residential and retail area at below market rate.”

The $3.4 million sale equated to a 6.1 capitalization rate. The retail space currently rents for below $20 per sq. ft.

For more, download the full article in PDF

national real estate investor 08-2012_Bronx Single-Level Retail Building Sells for $3.4M