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Real Estate Weekly

Schuss Takes the Lead in Doggie Deal

Biscuits & Bath, a full-service dog care business with 11 locations throughout Manhattan, has signed a lease for its first Lower Manhattan spot at the base of 71 Broadway.

The location, which is set to open in early 2018, will be situated across from the incoming Whole Foods and near Dean & Deluca.

Winick Realty Group’s Matthew Schuss said the Biscuits & Bath location will offer a range of dog care services, including day care, boarding, walking, grooming, training, veterinary care and transportation and sell retail products.

“Over the last 10 years, Lower Manhattan has experienced an incredible residential boom with more than 60,000 people currently living down there and more coming every year,” said Schuss.

“However, the abundance of landmarked buildings left few opportunities for the retail services that these residents require, making Biscuits & Bath a much-needed amenity for not only the building but for the entire neighborhood.”

Biscuits & Bath leased 3,100 s/f of space that had previously been home to The Factory Shoe Outlet for 60 years.

Schuss and Winick Realty Group executive Darrell Rubens represented both tenant and landlord, Equity Residential.

For more, download the full article in PDF

rew_072617_Schuss takes the lead in doggie deal

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.

Citybizlist

Winick Realty Group Leases Retail at 71 Broadway to Biscuits & Bath

Biscuits & Bath, the only full-service dog care business in New York City with eleven locations throughout Manhattan, has signed a lease for its first Lower Manhattan location at the base of 237 apartments at 71 Broadway.

The location, which is set to open in early 2018, will be situated across from the incoming Whole Foods and in close proximity to Dean & Deluca, both of which are indicators of the strong residential population that will make up Biscuits & Bath’s customer base, according to Winick Realty Group’s Matthew Schuss. The Biscuits & Bath location will offer a full range of dog care services—including day care, boarding, dog walking, grooming, training, veterinary care and transportation—as well as sell retail products.

“Over the last 10 years, Lower Manhattan has experienced an incredible residential boom with more than 60,000 people currently living down there and more coming every year,” said Schuss. “However, the abundance of landmarked buildings left few opportunities for the retail services that these residents require, making Biscuits & Bath a much-needed amenity for not only the building but for the entire neighborhood.”

Biscuits & Bath leased 3,100 square feet of space that had previously been home to The Factory Shoe Outlet for 60 years. Its location offers an entrance on Broadway in the heart of Downtown Manhattan, allowing the location to pull customers from as far west as the West Side Highway and as far east as the FDR Drive. The landmarked building, which was built in the 1800s and housed the flagship offices for the United States Steel Corporation, was one of the first residential conversions to take place in Lower Manhattan in the 1990s.

Schuss and Winick Realty Group executive Darrell Rubens represented both Biscuits & Bath and landlord Equity Residential in the lease transaction.

For more, download the full article in PDF

citybiz-072417-Winick Realty Group Leases Retail at 71 Broadway to Biscuits & Bath

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

Letting the Cat Out of the Bag: Biscuits & Bath Nails First Lower Manhattan Deal

71 broadwayIn the dog days of summer, Biscuits & Bath has sealed a deal to bring its business to Lower Manhattan for the first time, Commercial Observer has learned.

The full-service dog care business, which has 11 locations throughout Manhattan, has leased 3,100 square feet at the base of 71 Broadway, which was home to The Factory Shoe Outlet for 60 years, according to a press release from Winick Realty Group provided to CO. The asking rent in the 13-year deal was $90 per square foot, a Winick spokeswoman indicated.

“Over the last 10 years, Lower Manhattan has experienced an incredible residential boom with more than 60,000 people currently living down there and more coming every year,” Winick’s Matthew Schuss said in prepared remarks. “However, the abundance of landmarked buildings left few opportunities for the retail services that these residents require, making Biscuits & Bath a much-needed amenity for not only the building but for the entire neighborhood.”

Schuss and Winick’s Darrell Rubens represented Biscuits & Bath and the landlord, Equity Residential, in the deal.

The building at 71 Broadway, also known as 65 Trinity Place, is at Rector Street. There remains 3,502 square feet of available retail in the residential building (previously leased to Champs Deli and a hair salon). Above are 237 apartments with studios starting at $3,055 per month, one-bedrooms at $3,535 a month and two-bedrooms at $4,820 monthly, according to Equity Residential’s website.

The new Biscuits & Bath is slated to open early next year.

For more, download the full article in PDF

NY Observer-071917-Biscuits & Bath Nails First Lower Manhattan Deal

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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ICSC 2017 RECon attendees on adjusting to a new reality

steven baker and darrell rubensThe mood from the floor of the International Council of Shopping Centers’ RECon Monday was a defensive optimism, colored by a recognition that leasing volume was healthy in part because rents have declined.

“Right now, landlords are trying to embrace the new reality of lower rents and bigger contributions,” said Robert Futterman, of the retail-focused brokerage RKF.

But at the same time, tenants are closing some stores, and “right-sizing” their location, and “that’s keeping the brokers very busy,” Futterman added.

The halls were packed earlier Monday, crowded around the booths of brokerages like CBRE, JLL, Newmark Grubb Knight Frank and Marcus & Millichap.

“We all read about the negativity to the industry, but it’s expansion when I speak with brokers,” said Adam Weinblatt, a broker at NGKF. But he acknowledged that pricing has shifted, and there may be more to come.

“Rents have not bottomed out, but they will soon,” he said.

Volume was steady, said Joe Jacobson, a partner with the landlord Madison Capital. “Deals are getting done at realistic levels.”

There was broad agreement on which uses were most active.

“Food, wellness, fitness,” said William Friedland, of Friedland Properties.

David Gomez, of investment sales-focused brokerage Fountain Realty Group, said he was counseling buyers to focus on buying spaces that can accommodate tenants with food uses.

“If you can vent it, you can rent it,” is Fountain’s catchphrase du jour, Gomez said.

Brian Lindley of Chick-fil-A said he saw only a small decline in New York City rents this year compared with last year. But in part he said that’s because his company is looking at “high-profile” neighborhoods.

Generally, landlords are willing to drop rents, brokers said.

“Landlords have a [far] different attitude,” this year, said Peter Braus of Lee & Associates NYC.

Meridian Capital Group held a lunch for its clients, where attendees included Thor Equities’ Joe Sitt, Wharton Properties’ Jeff Sutton and Alex Adjmi. Ralph Herzka gave a speech about the firm’s growth, which was followed by a song and dance show put on by tiny robots. “This is the future, guys!” Herzka said.

Several insiders said they were pleasantly surprised by the number of people walking the halls.

“I’m shocked to see as many people,” said Colliers International’s Bradley Mendelson. “But I don’t think there are as many retailers.”

“We used to play football [in the hall],” said Elizabeth Friedland Meyers, because there were so few attendees. But on Monday there was no space for such games.

By the late afternoon, however, it slowly thinned out, and attendees were spotted trying to figure out which of the evening parties were worth checking out.

For more, download the full article in PDF

THE REAL DEAL_052317_ICSC 2017 RECon attendees on adjusting to a new reality

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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Stallone-backed boxing gym Rumble inks lease for entire UES building

1495_3rd_Avenue_Sly LRRumble, the trendy boxing gym concept backed by investors such as “Rocky” star Sylvester Stallone and Justin Bieber, has inked a deal for its third Manhattan location.

The chain is leasing an entire five-story building owned by landlord Samy Mahfar at 1495 Third Avenue between East 84th and 85th streets, sources told The Real Deal. The 12,500-square-foot, 10-year deal is valued at about $1 million a year, sources added.

Rumble already has a location in Chelsea and is planning to open another in Noho this summer.

The company was founded in 2016 by Noah Neiman of Bravo’s “Work Out New York”; Eugene Remm of EMM Group, the company which owns the Meatpacking District hotspot Catch; Andy Stenzler, co-founder of Cosí; and Anthony DiMarco, a former executive at Google.

Darrell Rubens and Lee Block of Winick Realty Group represented Mahfar’s SMA Equities in the deal. Rumble was represented by Brandon Berger of RKF.

Mahfar bought the building for $18.2 million last year after its former owner and longtime tenant, the mirror and antiques shop S. Cavallo, let it fall into disrepair.

The new location is slated to open later this year.

For more, download the full article in PDF

THE REAL DEAL_052217_Stallone-backed boxing gym Rumble inks lease for entire UES building

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

Discount Department Store DII Signs Two Leases to Remain in Coney Island

626 sheepshead bay roadDII Stores has signed two leases at Cammeby’s International’s 626 Sheepshead Bay Road development in Coney Island, according to the landlord.

In the larger of the two leases, the discount department store, which sells male and female apparel as well as home products, will occupy 11,600 square feet as the retail anchor of the seven-story office and retail building under construction near the intersection of West 8th Street.

The company currently operates a shop at nearby 530 Neptune Avenue between West 6th Street and Marsha Rapaport Way, a building that Cammeby’s owns and plans to demolish for a 42-story residential tower.

“DII is an important part of the Coney Island community, so we’re extremely happy that they will remain a permanent fixture by serving as the anchor tenant,” Jacob Cohen, executive vice president of development at Cammeby’s, said in a statement. “The company will also bring its corporate offices to the property, providing employees with a new, modern work environment.”

DII inked a separate deal for 4,900 square feet on part of the third floor of the property for its offices, which will be relocated from 530 Neptune Avenue. The landlord declined to provide the terms of the leases.

Winick Realty Group’s Jeff Winick, Lee Block, Darrell Rubens and Danielle Winick represented the landlord and the tenant.

“This lease is another reflection of Cammeby’s commitment to keeping longtime businesses in Coney Island,” Block said in prepared remarks. “DII will continue to cater to customers at its current space on Neptune Avenue before moving into [the] new, modern space that will serve as its home for years to come.”

DII has 14 locations in New York and New Jersey. The 161,000-square-foot building at 626 Sheepshead Bay Road is expected to be completed in the fall.

For more, download the full article in PDF

NY Observer-032217-Discount Department Store DII Signs Two Leases to Remain in Coney Island

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.