Currently viewing the tag: "Crain’s"

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Taqueria Hits a Park Avenue Micromarket

100 park avenueA rapidly expanding New York City-based Mexican restaurant chain recently has joined the battle for midtown lunchers’ wallets. Choza Taqueria has inked a 10-year lease at the base of 100 Park Ave., between East 40th and East 41st streets. And although the competition seems fierce, the eaterie’s owners see each block in the area as its own micromarket—with this one being ripe for the taking.

“(East) 41st Street is untapped,” said Ross Burack of Winick Realty Group, who represented Choza, referring to the block where the eatery plans to open this spring. The 1,000-square-foot space, facing East 41st Street at the base of the building, will be the outlet’s third location after opening stores in the West Village and the Flatiron district. The asking rent was $150 per square foot.

In the new space, chef Dominic Giuliano will churn out creations styled after the fare from roadside taco stands in northern Mexico, to office workers who crowd the sidewalks each day at lunchtime. According to Mr. Burack, these workers typically don’t stray far. Instead, they tend to stay within a short radius of their buildings, which is why some restaurants have numerous locations in the neighborhood. Eventually, Choza hopes to not only attract clientele from several class A office buildings in the area, but also draw foot traffic from Grand Central Station, one block north. The hope is to build a loyal following that has already stretched lines out the door of its West Village location, according to Mr. Burack.

Jeffrey Roseman of Newmark Grubb Knight Frank represented landlord SL Green Realty Corp. in the deal.

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CRAIN’S_031814_Taqueria hits a Park Avenue micromarket

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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Executive Moves

thomas-kornitzer-print-ver-profile-001Thomas Kornitzer

Thomas Kornitzer, 55, joined Winick Realty Group NJ as Senior Director. He was formerly Regional Director at RKF.

Job Title: Senior Director

Company: Winick Realty Group NJ

Age: 55

Start Date: January 16, 2014

Newly Created Position? Yes

Job Function: Broker

Job Description: Thomas Kornitzer will be in charge of both landlord and tenant accounts, specifically working with such exclusive clients as Safeguard Self Storage, Pep Boys and Wendy’s.

Former Job Title: Regional Director

Former Company: RKF

Industry: Real Estate

Company Headquarters: Cranford, NJ

Office Location: 11 Commerce Drive, Suite 205, Cranford, NJ

For more, download the full article in PDF

CRAIN’S_030614_Executive Moves

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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For the Record

waxEuropean Wax Center signed a lease for 5,100 square feet at 295 Park Ave. South. The salon will take two floors. The tenant was represented by Hal Shapiro of Winick Realty. The landlord, Abington Holding, was represented by Steven Baker and Michael Gleicher of Winick Realty. The asking rent was undisclosed.

For more, download the full article in PDF

CRAIN’S_012114_For the Record

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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For the Record

duane reade bagDuane Reade renewed its lease for 14,000 square feet at 198-15 Horace Harding Expressway in Queens. The drugstore will continue to occupy its space in the Cross Path Shopping Center in Flushing. The tenant was represented by Jeff Winick of Winick Realty Group. The landlord, Crosspath Realty, was represented by Neil Dolgin and Grant Dolgin of Kalmon Dolgin Affiliates. The asking rent was undisclosed.

For more, download the full article in PDF

CRAIN’S_011314_For the Record

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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Take-out shop to bow on Madison

270 madison aveMore food is in store for the thousands of hungry office workers in midtown east. Sarah’s Kitchen, an eatery specializing in take-out lunch options, has signed a 13-year deal for 9,200 square feet at 270 Madison Ave., between East 39th and East 40th streets. About 6,400 square feet are located on the ground floor with an additional 2,800 on the mezzanine. Asking rent for the space, formerly occupied in a sublease by discounter clothing Rainbow, was $150 per square foot.

Opening this summer, Sarah’s Kitchen is owned by the same restaurant group that operates Delmonico’s Gourmet Food Market, a similar concept with a location nearby on Lexington Avenue.

“This is going to be a more modern, higher-end, larger product with more food stations,” said Mark Tergesen, an in-house broker for landlord ABS Partners. He added that a vacant shopfront next door on the corner with 5,200 square feet is also seeing a lot of interest from sit-down restaurant tenants.

Mr. Tergesen was assisted in negotiation by Hal Shapiro of Winick Realty Group. Tony Park of PD Properties represented Sarah’s Kitchen, which briefly occupied an outpost on Third Avenue near Grand Central Terminal.

For more, download the full article in PDF

CRAIN’S_121013_Take-out shop to bow on Madison

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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First retail tenant signs on for prime corner on Lex

451 lexington avenueA slice of midtown is going Greek. GRK, a fast casual Mediterranean chain, recently signed a 10-year deal to open its second location on the ground floor of the brand new building at 451 Lexington Ave., at East 45th Street. Asking rent for the 2,200-square-foot space was $250 per square foot.

GRK, which flies in its yogurt from Greece and locally sources its meat, opened its first location last November at 111 Fulton St.

“They were looking for something in midtown,” said Joseph Isa, the Winick Realty Group broker who, along with colleague Brian Tregerman, represented the tenant. “The density and the proximity to Grand Central and 42nd Street is great, and they felt it was an underserved market with Greek food.”

The restaurant is taking space in a new tower that replaced the single-story retail property that had long housed a Sbarro, McDonald’s and Wendy’s. GRK hopes to open on Lexington Avenue within five months. It is also opening an outpost in Washington, D.C., and Mr. Isa expects to have two or three additional New York City locations in the next 12 months.

Landlord Regency Development was represented in negotiations by David LaPierre and Steve Sjurset of CBRE Group Inc.

For more, download the full article in PDF

CRAIN’S_102213_First retail tenant signs on for prime corner on Lex

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.