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Gem of a Lease

joseph-isa-258x30016Lao Feng Xiang Jewelry, a Chinese-owned company with 2,300 global sales outlets has signed a lease for its first North American retail store and showroom.

The company will occupy 6,100 sf on three floors plus a basement at the six-story 585 Fifth Avenue where they will also have branding and signage rights. This was the first time in 40 years the space was available.

Lao Feng Xiang was represented by Stephen Sjurset, Cassie Durand and David LaPierre of CBRE.

Joseph Isa of Winick Realty Group represented the ownership which knew the brand and understood its value. The asking rent was a record-setting $2.25 million per year and the taking rent came close.

For more, download the full article in PDF

cityfeet_021114_Gem of a Lease

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 Leases Signed

91-Chambers-St-600x338The retail below the newly-constructed 84-unit luxury condominium at 95 Chambers Street/75 Reade Street between Broadway and Church Street, is getting two new retail occupants.

High-end preschool Reade Street Prep expanded its Tribeca presence—which already included an Enrichment Center at 104 Reade Street—as they leased a 3,600 sf preschool on the 75 Reade Street side of the building. Around the corner, on the 95 Chambers Street side of the building, European Wax Center signed a lease for 1,650 sf of ground floor retail space.

Winick Realty Group Darrell Rubens and Lee Block represented Reade Street Prep, while European Wax Center was represented by Winick Realty Group broker Hal Shapiro.

For more, download the full article in PDF

cityfeet_120613_Retail Leases Signed

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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Three Retailers Get Flatbushed

395-Flastbush-Ave-Three new retailers have signed leases for space in the bustling Flatbush Avenue corridor. Starbucks Coffee Company, Game Champ and Cohen’s Fashion Optical will all be joining the retail at 395 Flatbush Avenue Extension, a full-block retail site anchored by decade-old locations for Applebee’s and McDonald’s that are among the brands’ highest-grossing New York stores.

Winick Realty Group broker Diana D. Boutross, the exclusive broker for Starbucks Coffee Company in Brooklyn, leased a 1,243 sf storefront for the brand.

Winick’s Zach Mishaan represented Game Champ as the video game retail leased 1,107 sf of ground floor retail space. Set to open by the end of the year, this will be the fifth Brooklyn location for the company, which also operates stores in the Bronx, Staten Island and New Jersey.

Cohen’s Fashion Optical, represented by Boutross and Winick’s Matthew Schuss, will also open a 1,100 sf storefront at the property by the end of the year, marking the retailer’s ninth foray into the borough.

Winick Realty Group’s Zach Mishaan repped the building owner, Rabina Properties, in all three lease transactions.

“The building façade and the sidewalks have been recently redone,” said Mishaan, “and ownership has done major improvements to make the corridor more retail friendly, including the installation of additional lights and signage.”

Asking rent for the remaining retail availability is $150 psf, which is substantially lower than rents at the adjacent Fulton Street Mall.

For more, download the full article in PDF

cityfeet_102113_Three Retailers Get Flatbushed

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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Fitness Comes To Brooklyn

1245 fulton st renderingPlanet Fitness, the low-cost fitness chain has net leased a freestanding building at 1245 Fulton Street in Bedford-Stuyvesant and will become the only gym in the area when it opens in 2015 after a second floor is added to the property.

Planet Fitness, which was represented by Richard Chera of Crown Retail, leased 7,500 sf on each of the ground floor, second floor and basement, totaling 22,500 sf.

Landlord Infinity Real Estate was represented by Winick Realty Group broker Zach Mishaan, who noted, “Due to the tenant’s aggressive expansion program and strong area presence, ownership considered Planet Fitness to be an attractive retail tenant.”

The building is along a major retail corridor populated with many name-brand national tenants, including Walgreen’s, Rainbow, Payless Shoe Source and Foot Locker.

Ownership is currently renovating the building to fit the extensive necessities of a gym concept including the addition of the second floor. They are expected to open when renovations are completed in January 2015, making them the only gym or fitness facility in the area.

For more, download the full article in PDF

cityfeet_101413_Fitness Comes To Brooklyn

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.

DEAL$ LEASES

Deal$, a discount chain with more than 180 stores across the US, has signed a lease for 10,624 sf at 301 West 145th Street on the southeast corner of Frederick Douglass Blvd. The asking rent was $50 per foot. The store, which is scheduled to open in the spring of 2013, sits at the base of The Langston Condominium, a sold-out, 179-unit luxury residential building that already hosts Bank of America, Starbucks and a New York Sports Club. Deal$, an affiliate of publicly-traded Dollar Tree, was represented by Miles Mahoney of Ripco Real Estate. Winick Realty Group’s Tatiana Jung and Richard Smith represented the retail condo owner. A new 45,000 sf Pathmark Supermarket opened across the street.

For more, download the full article in PDF

cityfeet_110212_DEAL$ LEASES

RETAIL BUILDING SOLD IN THE BRONX

An 11,500 sf single-story building at 592 East 183rd Street, located steps from Arthur Avenue, one of the busiest shopping districts in the Bronx was sold for $3.4 million, which equated to a 6.1 capitalization rate. Zach Mishaan of Winick Realty Group represented both the buyer and seller Rudy Izzo, whose family owned the property for 40 years, running a supermarket in the space before Rite Aid moved in 17 years ago. Rite Aid remains the current tenant, with multiple years left on their lease at a rent of under $20 per foot.

For more, download the full article in PDF

cityfeet_081012_RETAIL BUILDING SOLD IN THE BRONX