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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.

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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.

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Planet Fitness lands in Bed Stuy

1245 fulton st renderingA franchisee of the fast-expanding national gym chain Planet Fitness has inked a lease for 22,500 square feet at 1245 Fulton St. in Brooklyn’s Bedford Stuyvesant. The gym plans to open in January 2015, following extensive renovations.

PFNY, the city’s exclusive franchisee of the New Hampshire-based national fitness firm, is adding a second 7,500 square-foot floor onto the existing one-story building, and will also operate in the basement.

The asking rent is $50 per square foot.

The company’s newest Brooklyn location, on Fulton Street between Bedford Avenue and Arlington Place, lies in the heart of Bed Stuy’s commercial corridor and near to stops for the C train and the Long Island Railroad.

And although Planet Fitness will share the strip with other national brands like Foot Locker and Payless ShoeSource, it will be the first gym in the area, according to Zach Mishaan of Winick Realty Group, who represented landlord Infinity Real Estate.

“With this lease, Planet Fitness is filling a need for the neighborhood,” he said, while also noting that his client chose the chain because of its ongoing robust growth.

The New York franchisee set up shop in 2004 and already boasts 27 locations in the city and another 6 in Rockland and Westchester counties, where it also has exclusive rights.

Richard Chera, partner at Crown Retail Services, represented PFNY.

“We’ve been opening, on average, nine stores a year in the five boroughs, and we are going to continue at that pace,” he said.

For more, download the full article in PDF

CRAIN’S_100813_Planet Fitness lands in Bed Stuy

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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Searle begets downsized successor

1051-third-ave-001Queens-based coat and apparel chain Searle, which filed for bankruptcy in 2009 and shuttered its stores last year, has gone into rebirth mode. After closing its 4,500-square-foot store at 1051 Third Ave., on the corner of East 62nd Street, in November, the company recently signed on to lease just a third of that same space for ten years. The retailer plans to operate the store, which also has a 1,000-square-foot basement, as Alice NYC, a new concept. Asking rent was $250 per square foot.

“This will be more of a boutique-feel with fashion apparel and also incorporating their coat line,” explained Melinda Miller, the Winick Realty Group broker who, along with Jeff Winick, represented both the landlord and tenant. She noted that the company is partial to the neighborhood, because of its proximity to Bloomingdale’s and subway stations. Earlier this year, Alice NYC was tested as a pop-up shop on Third Avenue and East 60th Street, said Ms. Miller.

Run by Steve and Alice Blatt, Long Island City, Queens-based Searle had operated its larger store for at least a decade. Founded in 1962, the company had eight stores and $40 million in revenue in the early 2000s, according to its website. With the recession, it began downsizing.

The landlord for the new store is a co-op, 201 E. 62nd Apt. Corp.

For more, download the full article in PDF

CRAIN’S_091713_Searle begets downsized successor

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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French café to open second UES spot

1442 Lexington AvenueBonjour Crepes & Wines is saying hello to the northern stretches of the Upper East Side. The café, which already operates one location on Second Avenue and East 82nd Street, recently signed a 10-year lease for 1,000 square feet at 1442 Lexington Ave., on East 94th Street. Asking rent was $160 per square foot. The deal includes a 1,000-square-foot storage basement.

“The [Upper East Side] area is lacking in that type of food use,” explained Darrell Rubens, the Winick Realty Group broker who represented landlord SMA Equities in negotiations. “The crepes will be for kids in the area and the wine for the parents in the evening.”

Parvez Eliaas, Bonjour’s owner, explained that he has seen a lot of customers come down from the upper reaches of the neighborhood to visit his Second Avenue shop.

“If I bring a shop closer to that area, I’ll have more opportunity to serve more customers,” he said.

Bonjour, which should open for business in October, replaces the London Candy Co. in the space. Sam Mann, also of Winick, represented Mr. Eliaas in the transaction.

For more, download the full article in PDF

CRAIN’S_082013_French café to open second UES spot

 

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Russian gift shop parachutes into NoMad from B’klyn

261 Fifth AveA little piece of Russia is coming to a neighborhood that is drawing increasing numbers of tourists. Saint Petersburg Global Trade House, a 15-year-old retailer selling Russian books and souvenirs, is opening its first Manhattan location. The company signed a 10-year lease for 1,100 square feet on the ground floor of 261 Fifth Ave., between East 28th and East 29th streets. Asking rent for the deal, which also includes a 650-square-foot mezzanine, was $165 per square foot.

Natalia Orlova, the owner of the store, initially looked for space in Times Square. She chose the NoMad neighborhood for its proximity to tourist magnets including the NoMad Hotel and Eataly. Saint Petersburg Global Trade House already boasts three locations in Brooklyn, including a flagship located in the heart of the Russian neighborhood of Brighton Beach. That outpost is billed on the company’s website as the largest Russian book, music and gift store outside Russia, with over 10,000 square feet of floor space.

“If she went to Times Square, she might have gotten lost a bit,” said Richard Smith, the Winick Realty Group broker who, along with Tatiana Jung, represented the tenant. “Now, she’s a destination and people will come to her.”

He noted that Ms. Orlova does a lot of business with the wives of Russian diplomats and tourists eager to purchase everything from Faberge-style eggs to porcelain dinnerware.

Saint Petersburg Global Trade House will open for business this summer in a space formerly occupied by a bank. Landlord the Feil Organization was represented in-house.

For more, download the full article in PDF

CRAIN’S_070913_Russian gift shop parachutes into NoMad from B’klyn