Currently viewing the category: "Harlem"

New York Observer

The Colleges That Ate New York

manhattanville-campus-under-constructionFor a moment there, it appeared as if three mammoth university construction projects slated for New York City might never get on the rails. New York University’s 2-million-square-foot expansion in Greenwich Village got tied up in court over the use of park areas during construction, until an appeals court this past October ruled in the school’s favor. Columbia University’s planned 6.8-million-square-foot campus in Manhattanville also faced legal hurdles before the U.S. Supreme Court in 2010 allowed the school to take over property in the blighted community in West Harlem. Finally, Ithaca-based Cornell University is developing the 700,000-square-foot Cornell Tech, an engineering school that will occupy the northern end of Roosevelt Island.  That project initially drew the ire of pro-Palestine protestors because of its affiliation with an Israeli university called Technion-Israel Institute of Technology.

Now that all three developments are moving forward, Commercial Observer examines what the projects mean for New York City’s real estate landscape.

Michael Gleicher, a director at Winick Realty Group, which is marketing retail space in the Columbia Manhattanville project, believes the expansions underscore how businesses of every persuasion want a footprint in New York City. “[The projects say] how New York continues to be at the center of the world, not just in finance, but in research, information and technology,” said Mr. Gleichner. “The expansion of the campuses has really put New York City at the forefront.”

Richard T. Anderson, the president of New York Building Congress, views such projects as an engine for growth. “Higher education  represents about $2 billion a year in construction activity,” said Mr. Anderson. “It’s a big market. And it helps the economy in two ways. Directly, in work for designers and contractors and crafstmen. Indirectly, it serves as an economic multiplier, where every dollar spent on these projects generates another 50 cents of economic activity.”

The projects are driven by competition among top-tier colleges. Officials at NYU and Columbia University have said that their expansions will allow them to attract talented faculty and graduated students. And Cornell Tech’s $2 billion campus is the product of an initiative led by former Mayor Michael Bloomberg to increase entrepreneurship and job growth in the city’s technology sector. The university will ultimately compete with schools like The Massachusetts Institute of Technology and Stanford University.

“New York has become a much more compelling place to study and more attractive place to live with a greater likelihood that students will find a quality job,” said Kenneth Hochhauser, an executive vice president at Winick. “So to satisfy that demand, they’ve gone on a building spree, but it’s not just for students. It’s also a desire to capture research dollars. The building spree is classrooms and dorms, and also incubators, labs and research space.”

For more, download the full article in PDF

NY Observer-012115-The Colleges That Ate New York

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

Columbia Taps Winick for Manhattanville Retail

AERIAL - BULK VIEW - SE CORNERWinick Realty Group is going to grad school.

The trustees of Columbia University have selected the firm to market three retail spaces slated for phase one of the university’s Manhattanville expansion plans, Commercial Observer has learned. The stores, which Winick brokers anticipate will be ready for possession in the fourth quarter of the year, will offer a collective 22,115 square feet of available space on the base of the 450,000-square-foot Jerome L. Greene Science Center on the northwest corner of West 129th Street and Broadway, Winick officials told CO.

The Winick broker team with the listing—Kenneth Hochhauser, Kelly Gedinsky and Michael Gleicher—are programming a 5,395-square-foot space for a grab-and-go tenant, a 7,050-square-foot corner storefront for non-food retail and a 6,255-square-foot spread for a traditional restaurant, the team said during a conference call. All three stores include mezzanine and lower level space and will see traffic from both pedestrians visiting the Mortimer B. Zuckerman Mind Brain Behavior Institute in the graduate science building above and other rising structures near the site, according to a Winick brochure about the listing.

“We’re going to have a daily staff of researchers and students who are daily occupying the space,” Mr. Gleicher said. “Each of these three spaces is going to highlight a locally-based and imaginative retail option or restaurant.”

The brokers have yet to decide on asking rents for the new spaces, they said.

Construction workers are currently installing glass facade panels on the first floor of the building and masonry with epoxy coating on the property’s below-grade floors, according to a construction update posted on Columbia’s website. The school demolished a one-story building at 3205 Broadway last summer to make way for the building, as CO previously reported.

While Renzo Piano acted as the architect for the science center, Renzo Piano Building Workshop and Skidmore, Owings & Merill designed the master plan study for the 6.8-million-square-foot expansion the university is implementing. The first phase of the 17-acre expansion in West Harlem will also entail a conference center, a new headquarters and classrooms for the Columbia Business School and the Lenfest Center for the Arts, according to the university. In the subsequent phases, the university will erect new housing for students and faculty, as well as facilities for biomedical engineering, nanotechnology, systems biology, and urban and population studies.

For more, download the full article in PDF

NY Observer-011515-Columbia Taps Winick for Manhattanville 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.

Wall Street Journal

Harlem’s 125th Street Picks Up Momentum

wsj harlem 1The pace of transformation of Harlem’s 125th Street is picking up speed, attracting developers and retailers who want to be part of the thoroughfare’s ascent.

Earlier this year, Extell Development Co. bought the site now used by a Pathmark supermarket at 125th Street between Lexington and Third avenues. Some attribute the latest flurry of interest and activity to the announcement in 2012 that the Whole Foods store was coming to Sutton’s development.

With that lease news, “the perception of 125th Street in the retail community changed,” said Kenneth Hochhauser, executive vice president at Winick Realty Group LLC.

The grocer, expected to open in 2016, will draw both local customers and those from a much wider range than is usual for 125th Street, said Mr. Hochhauser, who is marketing the Rockfeld Group’s planned 45,000-square-foot retail project next to the development that will house Whole Foods.

For more, download the full article in PDF

wsj_121514_Harlem’s 125th Street Picks Up Momentum

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.