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CVS opening up its newest pharmacy this weekend on the Long Island City waterfront

Long Island City residents will have a new, more convenient place to pick up prescriptions, toiletries, household items and snacks this coming Sunday.

According to a spokesperson for CVS, the pharmacy will open a new location at 1-50 50th Ave. on Aug. 20. The neighborhood lacks retail despite the uptick in development. Currently, the pharmacies, which include Duane Reade, Vernon Blvd. Pharmacy and Nature’s Prescriptions Pharmacy, are concentrated in the Hunters Point section.

In a Department of City Planning meeting discussing the possible rezoning of the neighborhood earlier this year, residents expressed frustration with the lack of options.

Rebecca Olinger, who has lived in Long Island City for 21 years, said the neighborhood has a dearth of useful retail like drug stores and that much of the retail is concentrated along the waterfront or in luxury high-rise buildings.

“My concern is the retail for the rest of us who do not live in these high-rises,” she said in the February meeting. “The businesses we get are expensive grocery stores, all the amenities that are needed in a neighborhood we are not getting. There is a tremendous amount of us now that do not live on the waterfront. When I moved to this neighborhood we had hardware stores, we had a butcher.”

The new CVS location will also be located along the waterfront, illustrating Olinger’s concern.

At a breakfast forum focusing on real estate in March, Long Island City business owners and real estate agents also discussed the neighborhood’s retail problem. Aaron Fishbein, director of retail real estate at Winick Realty Group, said he is hopeful about retail in the neighborhood.

So far, many of the clients expressing interest have been fitness, medical and education tenants. He calls this the “first wave” of retail tenants and predicts that as more residential buildings attract people to the neighborhood, restaurants will move in, followed by big box stores.

For more, download the full article in PDF

queens courier_081617_CVS opening up its newest pharmacy this weekend on the Long Island City waterfront

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

The latest leases inked under 20,000 s/f

JRT Realty Group arranged a 2,000 s/f 10-year lease for Barre3, an international fitness barre studio, on behalf of The Hakimian Organization and Gorjian•NY at 44-16 23rd Street, Long Island City, Queens. The landlord’s leasing team consists of JRT Realty Group’s President Greg Smith, Executive Managing Director Ellen Israel and Director Lauren Calandriello. The tenant will occupy part of the ground floor of the 22,294 s/f property. The building is comprised of two, 10,000 s/f floors with high ceilings and expansive floor plans. This will be the studio’s second establishment in New York City; its first being in the West Village. Barre3 has multiple studios throughout the U.S. as well as locations in Canada and the Philippines. Aaron Fishbein of Winick Real Estate represented the tenant in the transaction.

For more, download the full article in PDF

rew_080117_The latest leases inked under 20,000 sf

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.

queens gazette logo

The Fourth Annual Long Island City Summit Sees Big Turnout

licsummit_2017_06_23_q03_zThe fourth annual LIC Summit, convened once again at the Museum of the Moving Image by the Long Island City Partnership, had an introduction and six panel meetings.  The 2017 session seemed to temper the enthusiasm shown by the earlier summits, becoming cautious about the meaning of all that construction.  At the moment, Queens Plaza and Hunters Point are looking awesome in their partially-completed state, but it was generally agreed the equitable dispensation of residential and commercial prosperity will be necessary if the completed buildings are to be filled successfully.

The retail panel was moderated by Patricia Dunphy of Rockrose Development Corp.  The first panelist introduced was Donna Drimer of Matted LIC, a gallery and artistic items store that she has run for eight years on Vernon Boulevard.  When first in LIC, she was told that the coming building boom would soon surround her.  Instead, at the four-year mark, the last of the retailers she had met when she arrived closed shop.  It’s still sparsely populated on the street near 46th Avenue and Drimer says she’s desperate for neighbors and needs the foot traffic.  Next was Amber Jacobsen, the owner of Toby’s Estate Coffee on Jackson Avenue, one part of a five-store enterprise that she and a partner have established in Queens, Brooklyn and Manhattan.  She recalled that when she opened her shop in the West Village it was displeasing to see a Starbucks moving in nearby, but with growth she learned coexistence was easy.  She has no fear of a Starbucks near her in Hunters Point.  Dunphy said Toby’s has two coffee shops not named Starbucks located within a few doors, and as she recalled the many nail salons that opened near each other when Battery Park City was new, she said that’s not unusual.

Drimer, who lives on Queens Plaza and considers it a retail badlands, said LIC rents should be appropriate to what you want situated locally.  Big Box?  Charge it big bucks, say $300 per square foot, while charging smaller rates to smaller places.  Melissa Burch of Lendlease Americas Development said that LIC’s residential growth is exciting, since it ties to retail consequentially.  Regarding retail following residential development, Aaron Fishbein of Winick Realty said that retailers are often stumped about how and when to act.  Dunphy spoke for local light industry, referring to a building at 21st Street and 43rd Avenue where there’s working space for lampmakers, upholsterers and gold leaf artisans, among others.  She said she’s been asked if the building would be “developed,” and has replied that it’s fine as is.

For more, download the full article in PDF

queens gazette_062817_The Fourth Annual Long Island City Summit Sees Big Turnout

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 deal logo

Long Island City won’t be retail ghost town forever, panel says

LIC-panelLong Island City’s notorious lack of retail was one of the main points at this year’s LIC Summit, with developers and realtors saying they finally see light at the end of the tunnel.

During the summit’s “Retail as Placemaking” panel discussion, which was moderated by Rockrose Development’s Patricia Dunphy, local realtor Donna Drimer said a lack of stores is still a major problem in the area — and it makes it hard for her business Matted LIC to survive.

“It’s horrible. I’m the only destination. There is no place else to go shopping,” she said, “so rather than coming to me, it’s a lot easier to hop back on the 7, go into Grand Central and go wherever and go shopping,” she said.

Aaron Fishbein, who heads up retail real estate at the Winick Realty Group, said he doesn’t believe the problem will continue for too much longer. He said Long Island City is currently in the first wave of retail, which consists largely of fitness, medical and education tenants. Fishbein maintained that this will be followed by a wave of restaurants, which will in turn be followed by big box retail.

“Long Island City is big league. Let’s get that out of the way,” he said, adding that the neighborhood has the key ingredients in transportation, office space, schools, hotels and residential space.

“It has everything,” he said, “so it has the infrastructure, currently, for retail.”

For more, download the full article in PDF

THE REAL DEAL_062017_Long Island City won’t be retail ghost town forever, panel says

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.

queens courier logo

Real estate leaders discuss maintaining mixed-use identity of Long Island City

lic summit 2017Leaders in real estate, business and government attended the fourth annual LIC Summit on June 20 to discuss the future of Long Island City’s growth.

Hosted by the LIC Partnership at the Museum of the Moving Image, the event brought together stakeholders to discuss how to maintain the neighborhood’s mixed-use identity.

Aaron Fishbein, director of retail real estate at Winick Realty Group, said he is hopeful about retail in the neighborhood. So far, many of the interested clients have been fitness, medical and education tenants.

He calls this the “first wave” of retail tenants and predicts that as more residential buildings attract people to the neighborhood, restaurants will move in, followed by big box stores. He added that the neighborhood “has everything it needs for retail” including transportation options and a growing number of families moving in.

“[Retailers] see the value; they see the lack of competition,” Fishbein said. “There’s a lot of interest.”

For more, download the full article in PDF

queens courier_062017_Real estate leaders discuss maintaining mixed-use identity of Long Island City

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

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.