Currently viewing the category: "Third Quarter 2006"

 

 

 

RESTAURATEUR BUYS RETAIL CONDOMINIUM UNITS

NEW YORK CITY — Roxanne Betesh of Sivin Realty has represented 36 Hudson Associates, led by architect Joseph Pell Lombardi, in the sale of two commercial retail condominium units at the Mohawk Atelier in Manhattan, New York City. L2 Tribeca, LLC, led by restaurateur Louis Lanza, purchased the units for $3.95 million. The units, totaling 4,178 square feet on the ground floor and 2,420 square feet on the selling lower level, are located at 36-38 Hudson St. in Tribeca. Steven Baker of Winick Realty Group represented the buyer.

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REBusiness-November 27, 2006 – RESTAURATEUR BUYS RETAIL CONDOMINIUM UNITS

 

 

 

Eighth Avenue retail: More than porn meets the eye

Spurred by development, Eighth Avenue drawing better grade of retailers

At first glance, it doesn’t look like much has changed on the west side of Eighth Avenue near 44th Street. The stores there could be straight out of the gritty, crime-ridden 1970s Times Square: Stilettos, Peepworld and Play Pen. But this is only a temporary reality. A 256-unit, higher-end apartment building by developer Steve Witkoff is proposed for the site, and those retailers are more likely to be banks and drug stores in the future than porn shops.

In an ironic twist, porn shops on Eighth Avenue near Times Square may be a sign that the retail strip is actually getting better. At one time, porn shops moved to Times Square because it made business sense. Now, brokers say triple-X DVD stores are among the only operators taking spaces that may be demolished or gutted in a few years for luxury development.

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THE REAL DEAL-November 2006 – Eighth Avenue retail More than porn meets the eye

 

 

Restaurateur Louis Lanza, the owner of Josie’s, Josephina, Citrus and Better Burger, has just bought a TriBeCa spot previously owned by David Bouley, which is likely to become a new eatery.

The building known as the Mohawk at the northeast corner of Hudson and Duane Streets is currently being converted by archirect Joseph Pell Lombardi to residential apartments.

The two retail spaces combined have about 4,178 feet and had an asking price of $4.7 million through Roxanne Betesh of Sinvin Realty.

Broker Steven E. Baker of Winick Realty Group said the deal took 1 1/2 years to complete as Lombardi needed to build out the space with special restaurant venting.

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The upscale Club H Fitness just leased 38,000 square feet for a two-story gym and spa at The Anthem at 222 E. 34th St.

“This club will change the area,” said Hal Shapiro of Winick Realty, who brought in the Hoboken-based facility along with CEO Jeff Winick.

Shapiro said this flagship is expected to open in the summer of 2007 with other branches being rolled out at the rate of six a year.

Anthem’s owner Kamran Hakim was represented by Steve Robinson of CB Richard Ellis.

Club H will have 4,750 feet on the first floor, which had an asking rent of $80 a foot, along with the entire second floor of 23,500 feet, which had an asking rent of $45 a foot.

The building’s own gym was incorporated into this package under a special deal for the residents.

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NY Post-October 18, 2006 – TISHMAN EYES 666 CO-OWNER

 

 

 

Swankier retail for the lower Upper West Side

Higher-end shopping in new 15 Central Park West aims to surpass Time Warner Center

The Time Warner Center pushed the comeback of the foot of the Upper West Side to a whole new level. The complex’s mall-like shopping atrium is filled with an underground gourmet grocery, chic shops like Hugo Boss and Coach, and expense-account restaurants.

The next test of retail at the foot of the Upper West Side on Broadway will be at 15 Central Park West, where condos are setting record prices and where the retail component could be similarly higher-end. The condo project will also replicate the vertical retail approach of the Time Warner Center, a departure from the single-floor shopping experience most New Yorkers are used to.

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THE REAL DEAL- October 2006 – Swankier retail for the lower Upper West Side