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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.

 

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CVS coming to Neptune/Sixth in Coney Island

cvs-coney-islandA new retail/residential development currently under construction in Coney Island is starting to attract commercial tenants, according to the property developer.

Cammeby’s International Group, the real estate firm handling Neptune/Sixth, a new mixed-use development going up at 532 Neptune Ave. and 626 Sheepshead Bay Road, announced on Sept. 28 that CVS Pharmacy has signed a lease to occupy a portion of the retail space at 532 Neptune Ave.

Under the lease, CVS Pharmacy will occupy approximately 11,300 square feet of ground-floor retail space in the building.

Until the space is ready, the pharmacy will be temporarily located at the corner of Neptune Avenue and West Sixth Street.

“As a community-oriented development, Neptune/Sixth aims to enhance the area by creating more modern accommodations for existing businesses — like CVS — as well as for new retailers that will add to Coney Island’s vitality,” Jacob Cohen of Cammeby’s said in a statement.

Neptune/Sixth is a redevelopment of the former Trump Village Shopping Center and Royal Palace Baths. The new development will house a variety of services and retail options, while adding new amenities like parking, according to Cammeby’s.

Construction on the development’s first phase, a seven-story, 161,000-square-foot retail and commercial building at 626 Sheepshead Bay Road, is underway and is expected to be completed by the summer of 2017.

Cammeby’s expects to begin work for the retail portion of the Neptune Avenue site this fall.

Winick Realty Group has been retained as the exclusive retail leasing agent for Neptune/Sixth. The Lawrence Group is overseeing leasing for the development’s office space.

At 40 stories, the Neptune Avenue building will be the tallest structure in Coney Island.

Neptune/Sixth was designed by New York-based S9 Architecture.

“In our planning for Neptune/Sixth, we worked to gain a deep understanding of the neighborhood, its residents and businesses,” said Navid Maqami, the design principal at S9 Architecture. “Our goal is to transform the existing fragmented fabric into a vibrant urban place where people can work, shop and live.”

For more, download the full article in PDF

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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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Michelin-Starred Tim Ho Wan Coming to New York City

jeremy-wintner-print-ver-profile-001WDI Group, the acclaimed restaurant and hospitality group that has opened around 200 restaurants around the world since 1972, signed a long-term lease to bring Hong Kong-based Michelin-starred restaurant Tim Ho Wan to New York City for the first time.

Tim Ho Wan—which currently operates locations in Hong Kong, Singapore, Taiwan, the Philippines, Malaysia, Indonesia, Thailand, and Australia—will serve its celebrated dim sum menu at 85 Fourth Avenue. Expected to open in the third quarter of 2016, the restaurant will occupy around 2,000 square feet on the ground floor.

“[The location] 85 Fourth Avenue is located at the crossroads of Union Square, East Village, West Village and Astor Place,” says Winick Realty Group’s Aaron Fishbein. “This location will expose Tim Ho Wan to a truly 24/7 market filled with young professionals, residents and tourists who are looking for cool concepts like theirs.”

Fishbein and his colleague Jeremy Wintner represented WDI Group, who currently run popular Japanese robata grill Inakaya in the New York Times Building and has worked with such well-known concepts as Il Mulino, Sarabeth’s, Tony Roma’s and the Hard Rock Café.

“It was a pleasure to work with a great company like WDI Group to bring this amazing concept to the New York market. We expect that Tim Ho Wan will be extremely popular and become one of New York City’s top dining destinations,” adds Fishbein. “We look forward to continuing our relationship with WDI Group as their brands continue to expand.”

Landlord Rabina Properties was represented by Chris Stanton of Cushman & Wakefield.

For more, download the full article in PDF

fsr magazine-051616-Michelin-Starred Tim Ho Wan Coming to New York 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.

Wall Street Journal

Todd Snyder Signs Deal for U.S. Store

todd snyderDesigner menswear label Todd Snyder plans to open its first U.S. store at the base of a Madison Square Park office building.

Todd Snyder, founder and president of the eponymous fashion firm, signed a 5,700 square-foot lease at the base of 60 Madison Ave., a 13-story building recently renovated by its owner, the Moinian Group. The spot, at 23 E. 26th St., was fitting for Mr. Snyder, who lives and works in the area and who said he has drawn inspiration from New York City and the styles seen when walking through the park and riding the subway.

The new store, expected to open in October on the northeast corner of the park, will have a New York sensibility but include elements similar to those found in the label’s Tokyo store. Called the Townhouse, the Tokyo location is one of four Todd Snyder stores in Japan. It has a tailor shop, a barber and a whiskey bar in addition to apparel and accessories.

The area is at the heart of New York’s technology sector and the store will draw highnet-worth individuals looking for convenience, said Ross Burack, of Winick Realty Group LLC, who represented Moinian.

“We dress younger techie guys but we also dress guys who go into boardrooms,” Mr. Snyder said.

Steve Asch of City Connections Realty Inc. represented Todd Snyder.

For more, download the full article in PDF

wsj_032016_Todd Snyder Signs Deal for U.S. Store

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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Winick Realty Group leases Chipotle in Newark

chipotle-logoA Chipotle Mexican Grill has leased 2,200 square feet of space at 222 Market St. in Newark, part of the RockPlaza Lofts residential and commercial development, according to Winick Realty Group.

Winick Realty Group N.J. Senior Vice President and Founding Partner Daniel Spector was the exclusive broker for the transaction.  Financial terms were not disclosed.

Spector said this marks the first quick service restaurant to open in downtown Newark in decades.

“This was a very neglected block in Newark and the developer, Fidelco Realty Group, came in and completely changed the look and feel of the entire area,” Spector said. “The property has now been drawing interest from many highly-regarded retailers, including New Jersey’s only Dinosaur Barbecue, which opened next door.”

Spector said the restaurant has created jobs for many local residents.

For more, download the full article in PDF

NJ Biz-081214-Winick Realty Group leases Chipotle in Newark

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

Manhattan-Born Concepts Making The Jump Overseas

joshua-siegelman-002Concept expansion in general can be stomach-clenching. It’s always scary to take a concept into which you’ve put your heart and soul and expand it to a new market.

Will your new location be as successful and well-received? Or will you risk spreading yourself too thin and harming the core of your brand? These questions and concerns cause plenty of headaches in a domestic expansion but recent trends show some well-established American concepts going one step further and expanding their brands to other countries around the world.

One headliner concept that has recently made the push into Asia is The City Bakery. The Asian markets of Hong Kong and Japan have become very attractive for concept owners and investors alike as these areas are filled with people who care about style and trends, the latest gadgets and, most importantly, decadent food. Since opening in Osaka, Japan, The City Bakery has been embraced by the local consumers and the move has brought them great success. As owner Maury Rubin told me, Japanese customers are more likely to adopt their concept than a more quintessentially American chain like Dunkin’ Donuts or Krispy Kreme because of their love for French luxury goods. The cool and inviting aesthetic at The City Bakery helps too.

Perhaps similar factors have helped Magnolia Bakery as the Manhattan staple has successfully expanded throughout the Middle East. Magnolia locations can be found in Dubai Mall, Qatar, Lebanon, and Kuwait—all areas where customers have a high net worth and a good amount of disposable income to spend on luxury dessert items.

However, an international expansion isn’t always a slam dunk. Just look at Balthazar, a restaurant that has garnered international attention due to its highly-regarded chef, Keith McNally, and the throngs of tourists it attracts to its original Soho location. One could assume that the Balthazar concept would transition easily to the international marketplace but that doesn’t seem to be the case. The media frenzy that followed Balthazar to London, England has been replaced by a chorus of critics complaining that the eatery has not held up in the cross-Atlantic transfer. Whether this is an issue with the food, service, atmosphere, location or all of the above I am not sure, but the warm welcome the restaurant was expecting from Londoners has not come to be.

International expansion is an exciting opportunity to truly establish a brand, and build a reputation amongst an international audience, but American concepts must do their research before deciding to expand into areas where the local tastes, interests and aesthetics are so different from ours. It’s important to know your market and understand what it is that you can offer them, while also ensuring that the high standard of quality that earned your success in the first place remains intact.

For more, download the full article in PDF

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