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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.

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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.

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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.

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Q&A with Winick’s Aaron Fishbein

22-22 Jackson Ave RetailThe Court Square Blog recently caught up with Winick’s Aaron Fishbein, who will be bringing several retail spaces to Court Square. Here’s what he had to say:

The Court Square Blog: Tell us about your commercial real estate practice at Winick.

Aaron Fishbein: The firm has been around for over 30 years, specializing in retail real estate, leasing and investment sales. We represent and consult on behalf of all types of owners, ranging from institutional to mom and pops, as well as tenants including everyone from public national retailers to mom and pop local retailers.

I have been working in retail real estate for approximately 6 years and during this time, my focus has been on Long Island City, Manhattan and Downtown Brooklyn. My first introduction to the Long Island City real estate market was through working on a project for TF Cornerstone. My team was selected as the exclusive agent to represent their East Coast Development, which comprises of 6 buildings with approximately 3,000 residential units and 30,000 sf of retail. TF Cornerstone is an incredible company and really put LIC on the map.

From there, we represented Lightstone Group’s Gantry Park Landing building on the waterfront. Then, Related Companies’ first phase of Hunter’s Point South development. It was very interesting that we received more offers and more action on our LIC properties than our Manhattan properties. Retailers are really intrigued by Long Island City’s low rent numbers mixed with the density and low competition relative to other New York City markets. The retailers can do real business. Not one of our tenants has gone out of business, which is amazing.

In the beginning, it was all about the LIC waterfront. Now it’s all about Court Square and Queens Plaza. Currently, around 90% of our projects and time is spent in the Court Square and Queens Plaza market..

TCSB: What do you feel Court Square needs most right now?

AF: At this point, what Court Square needs are the basic uses that will service this first wave of residential, hotel and office development and density. For example: Gourmet markets, Quick Service Restaurants, Pharmacy, Fitness, Salons, Café, Hardware, Dry Cleaners, Pet Supply shops etc.

To service the second and third wave of development and density, we will need Big Box uses, and they are already started to poke around. Big box tenants follow each other, so once the first big box tenant signs, they will all follow.

TCSB: The residential component has already arrived in Court Square. When do you think the retail will catch up?

AF: Retail lags residential so, naturally, we are now starting to see retailers arrive. There is a major excitement and urgency coming from retailers in that they want to enter the LIC market right away in order to lock in current rents. Many don’t want to be late to the party, as many were in areas like Williamsburg. You have residents living in Court Square and Queens Plaza who are just waiting for the retailers to open up and so they can give them their business.

For more, download the full article in PDF

The Court Square Blog-051017-Q&A with Winick’s Aaron Fishbein

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

Winick Realty Brings Marquee Queens Corner to Market

9119-queens-boulevard-coverWinick Realty Group announced that it is bringing one of Queens’ most heavily-trafficked and highly-visible retail corners to market for the first time in 40 years.

The retail at 91-19 Queens Boulevard consists of two prime retail spaces adjacent to the Duane Reade located in the building.

Space A, the corner space currently occupied by McDonald’s, consists of 2,600 square feet on the ground floor and 2,700 square feet in the lower level.

Space B, the currently-vacant inline space, offers 900 square feet on the ground floor and 700 square feet in the lower level.

The two may be combined for a total of 3,500 square feet on the ground floor and 3,400 square feet on the lower level.

The Winick Realty Group team of CEO Jeff Winick, Daniel D. DePasquale, Thomas Caliendo and Danielle Winick is working on behalf of landlord Mavro Windsor LLC to market this once-in-a-lifetime property.

“This truly is a flagship-worthy space in the heart of Queens,” said Caliendo. “Its prime location on the corner of Woodhaven Boulevard and Queens Boulevard puts an incoming brand in the enviable position of facing the Queens Center Mall, where 27 million people shop each year, and in particular, the entrances to two of the mall’s most popular tenants—Shake Shack and Cheesecake Factory.”

91-19 Queens Boulevard sits at a busy intersection just off the Long Island Expressway, where more than 270,000 cars pass by each day.

An entrance to the Woodhaven Boulevard subway station, which services more than seven million riders each year, is located directly outside the store, and six bus lines also stop near the property.

Incoming tenants will be able to capture this visibility thanks to more than 142 feet of prime frontage and a 672-square-foot billboard, which can be leased along with either Space A or Space B.

Winick Realty Group is seeking tenants who will complement the incredible list of retailers inside the Queens Center Mall, which includes JCPenney, Macy’s, Coach, Victoria’s Secret, Banana Republic and H&M.

For more, download the full article in PDF

rew_113016_winick-realty-brings-marquee-queens-corner-to-market

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 Markets Unrivaled Branding Opportunity in the Heart of the Queens Boulevard Shopping Corridor

9119-queens-boulevard-coverWinick Realty Group proudly announced that they are bringing one of Queens’ most heavily-trafficked and highly-visible retail corners to market for the first time in 40 years.

The retail at 91-19 Queens Boulevard consists of two prime retail spaces adjacent to the Duane Reade located in the building. Space A, the corner space currently occupied by McDonald’s, consists of 2,600 square feet on the ground floor and 2,700 square feet in the lower level. Space B, the currently-vacant inline space, offers 900 square feet on the ground floor and 700 square feet in the lower level. The two may be combined for a total of 3,500 square feet on the ground floor and 3,400 square feet on the lower level.

The Winick Realty Group team of CEO Jeff Winick, Daniel D. DePasquale, Thomas Caliendo and Danielle Winick is working on behalf of landlord Mavro Windsor LLC to market this once-in-a-lifetime retail property. “This truly is a flagship-worthy space in the heart of Queens,” said Caliendo. “Its prime location on the corner of Woodhaven Boulevard and Queens Boulevard puts an incoming brand in the enviable position of facing the Queens Center Mall, where 27 million people shop each year, and in particular, the entrances to two of the mall’s most popular new tenants—Shake Shack and Cheesecake Factory.”

91-19 Queens Boulevard sits at a busy intersection just off the Long Island Expressway, where more than 270,000 cars pass by each day. An entrance to the Woodhaven Boulevard subway station, which services more than seven million riders each year, is located directly outside of the store, and six bus lines also stop near the property.

Incoming tenants will be able to capture this immense visibility thanks to more than 142 feet of prime frontage and a 672-square-foot billboard, which can be leased along with either Space A or Space B. Winick Realty Group is seeking tenants who will complement the incredible list of retailers inside the Queens Center Mall, which includes JCPenney, Macy’s, Coach, Victoria’s Secret, Disney Store, Banana Republic and H&M.

For more, download the full article in PDF

citybiz-111816-winick-realty-group-markets-unrivaled-branding-opportunity-in-the-heart-of-the-queens-boulevard-shopping-corridor

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.