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Citybizlist

Juda Chetrit, Represented By Winick Realty Group, Leases Fifth Avenue Storefront to L’Oreal 

404-5th-Avenue4-666x444Leading international beauty brand L’Oreal signed a lease for a retail store and training facility at 404 Fifth Avenue, between 36th and 37th Streets, making them the latest brand-name retailer to locate themselves in this dynamic stretch of Fifth Avenue retail.

“The trend on Fifth Avenue has been moving southward as retailers who were once located in the 50s and 40s are recognizing that the stretch from 34th Street to 39th Street offers comparable visibility and foot traffic at a much greater value,” said Winick Realty Group’s Lee Block. “At the same time, the traffic pattern from 34th Street is curving north as tourists continue up Fifth Avenue to visit Lord & Taylor, Saks Fifth Avenue and Rockefeller Center. 404 Fifth Avenue is optimally situated to benefit from both shopping corridors, and L’Oreal recognized the potential of this prime retail storefront.”

With this new long-term lease, L’Oreal is relocating from their existing store at 565 Fifth Avenue while maintaining the same footprint and exposure as they enjoyed in their previous location. L’Oreal is set to occupy a 1,000-square-foot retail space on the ground floor, as well as a 9,000-square-foot second floor that will serve as a training facility. The building offers striking features like loft windows, high ceilings and a wide open space that suited the brand in its relocation effort.

“Ownership is proud to welcome L’Oreal to the building and the neighborhood as they will bring new life to the space and add to the excitement in the area,” said Winick Realty Group’s Hal Shapiro, who, along with Block and Winick Realty Group CEO Jeff Winick, worked with Juda Chetrit and The Chetrit Group to secure the tenant, who was represented by CBRE’s Andrew Goldberg and Preston Cannon.

L’Oreal joins a growing roster of tenants who are benefitting from the proximity to tourist attractions like the Empire State Building, Macy’s Herald Square and Bryant Park, as well as the hip boutique hotels that are being built throughout the surrounding neighborhood. Build-A-Bear recently relocated their store from 565 Fifth Avenue to a retail site at the base of the Empire State Building. Reebok, Goldsmyth, Panera Bread and the SNL Experience have all signed leases nearby, while Charming Charlie selected this section of Fifth Avenue as the ideal location for their first New York City store.

Winick, Block and Shapiro are continuing to market the adjacent retail space at Juda Chetrit’s 404 Fifth Avenue. This prime retail space features 6,000 square feet located directly next to L’Oreal’s entrance on the ground floor, as well as 3,500 square feet of usable lower level space. The ground floor also houses a 1,000-square-foot mezzanine and boasts 20-foot ceilings, as well as ample dual-exposure frontage on both Fifth Avenue and 37th Street for maximum branding and visibility.

“Lower Fifth Avenue is abuzz with foot traffic from local shoppers and office workers, not to mention tourists coming from the Langham Place Hotel located directly next door,” added Block. “404 Fifth Avenue represents a great opportunity to reach unprecedented levels of foot traffic at a fraction of the rents found just a few blocks north.”

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citybiz-100715-Juda Chetrit, Represented By Winick Realty Group, Leases Fifth Avenue Storefront to L’Oreal

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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Lightstone taps Winick to market Bryant Park retail cube

1407_Retail_Rendering_101113_FinalThe Lightstone Group has hired retail brokerage Winick Realty Group to market a prospective 22,000-square-foot retail cube at the base of an office tower near Bryant Park, a Winick spokesperson told The Real Deal today.

The firm is seeking high-tech and fashion tenants to lease the property, at 1407 Broadway, which will combine four existing storefronts on the corner of 38th Street and Broadway.

The space includes an 8,338-square-foot ground floor with 18-foot ceilings, a 6,176-square-foot second floor with 12-foot ceilings and a 7,670-square-foot selling lower level with 15-foot ceilings, the spokesperson said.

“For years, the retail in the neighborhood lagged behind” said Winick broker Hal Shapiro, who is marketing the place with colleague Kenneth Hochhauser. “As the neighborhood transitions into a venerable Times Square South, the retail is attracting a savvier and more modern class of tourists and office workers, and we hope to further reflect that change with the leasing of 1407 Broadway.”

Asking rents for the space are $350 per foot for the ground floor, $100 a foot for the second floor and $75 a foot for the lower level, Winick said.

The Lightstone Group is slated to install a floor-to-ceiling glass façade on the space to provide the incoming retailer with an opportunity for massive signage, Winick said.

For more, download the full article in PDF

THE REAL DEAL_031314_Lightstone taps Winick to market Bryant Park retail cube

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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Jeweler from China enters U.S. market via Fifth Avenue

585 5th Web 10-24-13A Chinese jewelry conglomerate has inked a lease for its first North American outlet, fittingly along North America’s most expensive retail strip: Fifth Avenue.

Lao Feng Xiang Jewelry signed for 6,100 square feet over three floors at 585 Fifth Avenue, according to Winick Realty’s Joseph Isa, who represented landlord TSW 33 Realty in the transaction.

The seller of gold, diamonds and silver has outposts all over Asia and Europe but will be making its initial foray into the U.S. with the Fifth Avenue presence. They also received naming rights for the six-story building.

“Lao Feng Xiang Jewelry knew the value of having a Fifth Avenue presence, not to mention one in such close proximity to the Diamond District,” Isa said in a statement provided exclusively to TRD. “This lease catapults them to immediate brand awareness.”

The asking rent for the space was $2.25 million per year and the taking rent was nearly that, Isa said via email, though he declined to provide an exact figure (the rent includes a free basement floor, Isa said).

Faith Hope Consolo, a veteran retail broker with Douglas Elliman who has leased space to many high-end jewelry shops, called that asking rent “very high.”

Stephen Sjurset, Cassie Durand and David LaPierre of CBRE represented Lao Feng Xiang, but were not immediately available for comment.

Lao Feng Xiang will open later this year, according to a representative for Winick.

For more, download the full article in PDF

THE REAL DEAL_020514_Jeweler from China enters U.S. market via Fifth Avenue

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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Times Square to take Wings

253 west 47th street 1Manhattan’s first Buffalo Wild Wings will soon be flying into a newly constructed retail building off Times Square.

The new 15,000 square-foot roost at 253 W. 47th St. will serve up New York-style wings with 16 sauces and five flavorings, bottles of craft and tapped beer, and every sport known to city fans displayed on its multimedia systems.

The 22-foot-high ground floor is tall enough for its flying Buffalo logo and is wrapped by a 2,000 square-foot mezzanine. The restaurant, which features stadium seating areas, will be topped with a rare Times Square 2,000 square-foot roof deck for dining.

Friedland Properties recently developed the modern, single-tenant structure on a former parking lot between the Barrymore Theater and another parking structure. According to CoStar data, Friedland, which was represented in-house by Aaron Prince, had an asking rent of $800,000 a year.

Michael Gleicher and Jeff Winick, CEO of Winick Realty Group, represented the local White Plains-based franchisee Four M Capital, which already has 13 Buffalo Wild Wings in the metro area.

“It will be a fabulous addition to the city and … the sports capital of the world,” said Gleicher.

For more, download the full article in PDF

NY Post_071013_Times Square to take Wings

Moinian mulls Flagship on 5th

Joseph Moinian is working to cobble together an 84,000-square-foot retail space at the base of the office building at 535-545 Fifth Ave. that will run the full 200-foot long block between East 44th and 45th streets — and has appointed Winick Realty Group to lease what has been dubbed the “Flagship on Fifth.”

Jeff Winick, CEO of Winick, is leading the leasing team that includes Michael Gleicher and Melinda Miller.

Winick declined comment on the asking rent or on the state of current tenants, which include Michael C. Fina and Duane Reade. The Barami space is already being marketed by Winick.

Eventually, the sprawling space will include a selling lower level, a ground floor, second floor and mezzanine areas. But with some big boxes downsizing into jewel boxes, the brokers’ backup plan includes the building being reapportioned into three availabilities.

A 30,000-square-foot space on the building’s north corner has 225 feet of double height, wrap-around frontage that can support amazingly large signage.

Midblock, with an address of 537 Fifth Ave., an 8,700-square-foot triplex can become the “Townhouse on Fifth.” And at the south corner, there is 45,000 square feet of multi-level selling space.

The Fifth Avenue area north of 42nd Street has been popping with Tommy Bahama, Zara, H&M, Joe Fresh, Urban Outfitters and other retailers claiming storefronts.

Across the avenue, Joe Sitt intends to build a 75,000-square-foot glass box for a hoped-for seven-story retailer at West 43rd Street while Crown is putting together a nearly 50,000-square-foot space at 530 Fifth Ave. with a rent of $1,500 a square foot, thus pushing rents upwards from the Real Estate Board of New York’s fall pricing range of $500 to $1,000 a square foot.

For more, download the full article in PDF

NY Post_051612_Moinian mulls Flagship on 5th

Citybizlist

American Icon Leases Second Manhattan Location

Hal Shapiro is a broker at Winick Realty GroupAmerican Icon, the clothing and paraphernalia retailer celebrating the American West, has signed a lease for its second Manhattan location at 277 Fifth Avenue, between 29th and 30th Streets. The retailer has been operating a store at 360 Broadway since June 2011.

American Icon’s new 2,300-square-foot store features 23 feet of frontage on Fifth Avenue and flagpole signage that’s visible along Fifth Avenue from Flatiron to the Empire State Building, which is situated just blocks from the site.
The store, which includes ground-floor selling space and an additional 1,000 square feet of storage on the lower level, is surrounded by co-tenants including Starbucks, Jamba Juice and Ben Jacks Steakhouse.

Winick Realty Group LLC Managing Director Hal Shapiro represented both the tenant and landlord, Mirsal, LLC, in this lease transaction.

For more, download the full article in PDF

citybiz-020812-American Icon Leases Second Manhattan Location