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Globe Street

How To Succeed In A Family CRE Business

1st-panelThe numerous legacy family CRE businesses throughout the city that have bought, developed and/or sold properties are thriving.  Today, the next generation at such firms joins the industry with a new approach to the business and a different outlook on how to succeed, GlobeSt.com has learned EXCLUSIVELY.

A group of four such professionals—and one non-family member who works at a family operated firm—gathered in Midtown Wednesday afternoon at RealShare New York.

“In 2010, we decided to take money out of the properties and put it right back in with capital improvements,” declared Jonathan Kaufman Iger, president and CEO, Sage Realty Corp.

“We spent $160 million in six years and went through a full repositioning of our properties, putting in amenity spaces, shared boardrooms, outdoor spaces with features such as movie nights as well as indoor and outdoor yoga. Programing the space and working with the community has been our focus.”

Added Danielle Winick, associate, Winick Realty Group, “We see a shift to data and analytics, clients want more information  on neighborhoods. We’re able to track where tourists and residents are and map it, providing information in a format millenials like. We’re also building a social media platform and using it to brand ourselves by sharing what’s going on in the market and what’s happening around our properties.”

Winick also is using social media for research, she noted, allowing the firm to curate information. “We’re able to get trends on hotels and other properties all around the city and maybe find a tenant that isn’t known to any of our competitors.”

Others are focused on pockets of the city. “We invest in areas with scarce supply and insatiable demand,” shared Jared Epstein, VP and principal, Aurora Capital Associates. “The Meatpacking district has some unique qualities to offer, so companies will continue to chomp at the bit to be there.”

Epstein isn’t related to anyone at Aurora, but notes that he has been “adopted” by the Cayre family, which runs the firm. The family dynamic can present challenges, but it offers up opportunities too, the panelists noted.

“To be surrounded by people you love is great in some respects but it can be really complicated,” acknowledged Levine. “If we have an argument, it doesn’t end in the office—it spills over.”

So how does he address this issue? “It’s about creating a balance and talking to others who’ve been through it. If I have a beef with father, we will settle it in private. You have to stand up for yourself but you also need to respect the other family members.”

According to Winick, open discussion is encouraged at her family’s firm. “My father always has welcomed opinions and advice from anyone on what steps we should take and what we can improve. Also, our generation gap allows us to challenge each other and come up with new ideas together that we may not have been able to find on our own.”

For Kalikow, there is a litany of advantages to working with his relatives. “When you’re in a family business, you are able to voice your opinion in ways that others may not be able to do. I act as a conduit between others and my father, and I have an open door policy.”

He continued, “If a decision is made by my father or brother, I may have insight into it that others don’t have. We keep things in check: from 9 to 5 we’re a business but after that, we’re family.”

For more, download the full article in PDF

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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.

Globe Street

Turning Legacy CRE Families Into Modern Families

danielle-winick-print-ver-profile-002Members of real estate families may come into the world at an advantage, but joining the family business carries a lot of pressure. A delicate balance has to be struck between maintaining the company’s legacy and moving the firm into the future.

However, several members of the next generation are making their mark, bringing innovations from their families’ firms to the market. GlobeSt.com spoke EXCLUSIVELY with three such young guns in advance of their participation in a panel discussion at RealShare New York on the next generation.

For millennial Danielle Winick, associate, Winick Realty Group, social media and data—two popular areas of focus for the millennial generation—is where she saw she could make a difference. “I can use social media to keep up with trends and retailers entering the market and keep up on what’s happening in the US and abroad. We’re also using Instagram to show what’s happening at a property and who’s walking by, to build a picture for tenants or landlords and also to combine with our data and analytics.”

She explains, “Millenials like to see numbers and maps that they can touch and understand. This allows them to click on our buildings on an iPad and see area income and it can show landlords who’ll fit in a building.”

Winick also sees the firm moving beyond New York in the future. “I hope to expand throughout the East coast into all the major cities. We’ve started on our first project in Miami and we have offices in New Jersey and Florida.”

For more, download the full article in PDF

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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.

Globe Street

Deal Tracker: East Midtown, Long Island Ink FIRE Tenants

Charles_RapuanoOlive & Bette’s has signed a lease to relocate to occupy 1,206 square feet of ground-floor retail space at the Brodsky Organization’s 1156 Madison Ave., between East 85th and 86th Streets. Winick Realty Group president Steven Baker, director Charles Rapuano and associate Daniyel Cohen represented the landlord in the occupier agreement while the tenant was represented by Chris Owles of Sinvin.

For more, download the full article in PDF

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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.

Globe Street

Another TAMI Tenant Heads Downtown

750-columbus-avenue-_coverEastern Consolidated’s retail leasing division has arranged a 10-year, 750-square-foot corner lease for HealthSource Pharmacy and Health Food Store at the base of the Westmont, a 163-unit luxury rental at 750 Columbus Ave. The site will be HealthSource’s fourth location in Manhattan and its first on the Upper West Side. Eastern Consolidated senior director Brad Cohen and associate directors Jon Kamali and Benjamin Sandel negotiated the lease on behalf of the landlord.  Aaron Fishbein of Winick Realty Group represented HealthSource.

For more, download the full article in PDF

globe street-090216-Another TAMI Tenant Heads Downtown

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.

Globe Street

Winick Realty Group Hires Its Second Generation

danielle-winick-print-ver-profile-001A second generation of the Winick family has joined the eponymously named Winick Realty Group.

The retail specialty firm’s CEO Jeff Winick has brought on his daughter Danielle Winick, as a full-time employee at the firm, based here.

“I grew up in real estate,” says Danielle, whose mother is also in the real estate business as a residential broker at Corcoran. “My weekends were always spent looking at properties, listening in on business calls and going to meetings with my father. I explored other fields but this industry is my passion and it has been my dream to join the family business.”

After working at the company for the past five years on a part-time basis, Danielle has become an associate following her graduation from the New York University Stern Business School, where she earned a Bachelor of Science in business with a concentration in management.

She previously interned in the retail department at Vornado Realty Trust, giving her a view of the business not just from the developer’s side but also from the perspective of a different firm. Her tenure there will provide a more well-rounded approach to her position at Winick Realty Group, the firm states.

Outside of real estate, Danielle Winick has always had a passion for volunteer work. She spent seven years volunteering for Operation Smile, a non-profit organization that provides free surgeries to repair cleft lip, cleft palate and other facial deformities for underprivileged children around the globe. She went on missions with the organization to Vietnam and Bolivia, working alongside doctors, nurses and other volunteers. In addition, she founded Operation Smile’s “An Evening of Smiles,” a charity event held in the Southampton that raises money for the organization.

Danielle Winick will work alongside her father, representing properties throughout Manhattan.

“Being here on a daily basis allows me to see my projects through to completion,” says Danielle Winick. “I am excited for the opportunity to really dive in and be fully involved with our clients, as well as to be working alongside my father and learning from him every day.”

“I have been waiting for this day for a long time,” adds Jeff Winick. “The next generation of Winick Realty Group is finally here.”

For more, download the full article in PDF

globe street-082216-Winick Realty Group Hires Its Second Generation

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.

Globe Street

Cammeby’s Unveils Phase 1 Plans For Coney Island Project

626 sheepshead bay roadDeveloper Cammeby’s has unveiled plans for the first phase of its Neptune/Sixth mixed-use development project to be built on Neptune Avenue and Sheepshead Bay Road in the Coney Island section of Brooklyn.

The Neptune/Sixth project calls for the development of retail, commercial and residential spaces at 532 Neptune Ave. and 626 Sheepshead Bay Road. The project is the redevelopment of the former Trump Village Shopping Center and Royal Palace Baths.

Construction recently began on the development’s first phase –a standalone seven-story, 161,000-square-foot retail and commercial building at 626 Sheepshead Bay Road. Work on that building is expected to be completed by the summer of 2017. New York City-based S9 Architecture designed the development.

Cammeby’s says it intends to begin site work for the retail at Neptune Avenue—totaling 90,000 square feet—this fall. The project’s second phase, including the 42-story residential tower on Neptune Avenue, is scheduled to break ground in late 2017.

“As longtime investors in Coney Island, we appreciate the unique cultural fabric of this community and have approached Neptune/Sixth with an eye toward creating a true neighborhood destination that supports the needs of residents and positively contributes to the area,” says Jacob Cohen of Cammeby’s. “We look forward to providing existing Coney Island retailers and services with an updated and modern environment in which to grow their businesses, while also welcoming new tenants to enhance the base of amenities for the neighborhood.”

Business owners at Trump Village Shopping Center filed a lawsuit against Cammeby’s in May charging the developer violated the terms of their leases by attempting to move them out of their current locations, according to a report in The Real Deal. The shopping center is slated to be demolished to make way for the residential tower.

The development’s website in its description of the project states, “The current businesses located at 532 Neptune are an important part of the plan. They are assets to the community today, just as the completed Neptune/Sixth aims to be an asset to the community tomorrow. During development, these vital businesses and services will relocate within the Neptune/Sixth development site, allowing for continued access, service and convenience to their loyal customers.”

Winick Realty Group has been retained as the exclusive retail leasing agent for Neptune/Sixth, while The Lawrence Group is overseeing leasing for the development’s office space.

For more, download the full article in PDF

globe street-081716-Cammeby’s Unveils Phase 1 Plans For Coney Island Project

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.