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Wall Street Journal

Roosevelt Island Gets a Makeover

roosevelt island wsjRevitalization of the retail strip on Main Street, which has already received a $3 million upgrade from a partnership between Related and developer Hudson Cos., also continues. Several new shops were brought in—among them a wine store and an organic grocer—and two more leases could be signed soon, said Hal Shapiro, a broker with Winick Realty Group. A white-tablecloth restaurant and a wine bar with a bakery component have shown interest, he said.

“There are so many new residents here, and everyone wants more services,” Mr. Shapiro said. “Although the retail revamp has been a bit slow, all the new tenants say they are doing well. Each business certainly has a captive audience since there’s no competition.”

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wsj_050415_Roosevelt Island Gets a Makeover

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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Roosevelt Island Gambles on a Brighter Future

RI-1Hal Shapiro, managing director of Winick Realty Group, which does retail leasing, said the problem is that many people don’t really know the island. He needs to explain things about it, such as its beautiful scenery with open space and parks, its population and economic increase and in the past years with finished new residential buildings, and its potential growth since Cornell is coming. And most importantly, he pointed out, that the island is underserved. He said, now he is talking with three potential tenants—a Thai restaurant, a daycare center, and a bank, asking for 50 dollars per square feet.

“Things are happening,” said Shapiro. Saks-Rosenberg agrees. Five years ago the Main Street Retail Study said that Roosevelt Island residents do just 12% of their shopping on the Island, she said, “and now people start to really shop on the island and go to the stores, which was not the case two years ago. ”

For more, download the full article in PDF

NY City Lens-102114-Roosevelt Island Gambles on a Brighter Future

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.