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Real Estate Weekly

L’Oreal leases store, 9,000 s/f training space

404-5th-Avenue4-666x444International beauty brand L’Oreal signed a lease for a retail store and training facility at 404 Fifth Avenue, between 36th and 37th Streets, making them the latest brand-name retailer to locate themselves in this stretch of Fifth Avenue retail.

“The trend on Fifth Avenue has been moving southward as retailers who were once located in the 50s and 40s are recognizing that the stretch from 34th Street to 39th Street offers comparable visibility and foot traffic at a much greater value,” said Winick Realty Group’s Lee Block.

“At the same time, the traffic pattern from 34th Street is curving north as tourists continue up Fifth Avenue to visit Lord & Taylor, Saks Fifth Avenue and Rockefeller Center. 404 Fifth Avenue is optimally situated to benefit from both shopping corridors, and L’Oreal recognized the potential of this prime retail storefront.”

With this new long-term lease, L’Oreal is relocating from their existing store at 565 Fifth Avenue while maintaining the same footprint and exposure as they enjoyed in their previous location. L’Oreal is set to occupy a 1,000 s/f retail space on the ground floor, as well as a 9,000 s/f second floor that will serve as a training facility.

“Ownership is proud to welcome L’Oreal to the building and the neighborhood as they will bring new life to the space and add to the excitement in the area,” said Winick Realty Group’s Hal Shapiro, who, along with Block and Winick Realty Group CEO Jeff Winick, worked with Juda Chetrit and The Chetrit Group to secure the tenant, who was represented by CBRE’s Andrew Goldberg and Preston Cannon.

L’Oreal joins a growing roster of tenants who are benefitting from the proximity to tourist attractions like the Empire State Building, Macy’s Herald Square and Bryant Park, as well as the boutique hotels that are being built in the neighborhood.

Winick, Block and Shapiro are continuing to market the adjacent retail space at Juda Chetrit’s 404 Fifth Avenue.

This space features 6,000 s/f l directly next to L’Oreal’s entrance on the ground floor, as well as 3,500 s/f of usable lower level space.

For more, download the full article in PDF

rew_1016015_L’Oreal leases store, 9,000 sf training space

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.

Real Estate Bisnow

This Week’s NY Deal Sheet

lee-block-258x30020L’Oreal will take a total of 10k SF at 565 Fifth Ave: a 1k SF retail space and 9k SF on the second floor that’ll be used as a training facility. CBRE’s Andrew Goldberg and Preston Cannon repped the tenant. Winich Realty Group’s Jeff Winick, Hal Shapiro and Lee Block repped the landlord, the Chetrit Group, along with Juda Chetrit, who repped the landlord in-house.

For more, download the full article in PDF

real estate bisnow 10-13-15

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

hal-shapiro-258x300L’Oreal has signed a lease for a retail store and training facility at 404 Fifth Ave., between 36th and 37th Streets. The beaut brand is set to occupy a 1,000-square-foot retail space on the ground floor and a 9,000-square-foot second floor for training. Winick Realty Group’s Hal Shapiro, Lee Block and CEO Jeff Winick worked with Juda Chetrit and the Chetrit Group to secure the tenant. L’Oreal was represented by CBRE’s Andrew Goldberg and Preston Cannon.

For more, download the full article in PDF

globe street-101215-Deal Tracker

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

L’Oreal to Relocate to 404 Fifth Avenue

404 5th avenue observerL’Oreal will be moving its retail store and beauty store Redken 5th Avenue NYC to 404 Fifth Avenue between West 36th and 37th Streets, as The New York Post reported.

The new space consists of a 1,000 square feet on the ground floor and 9,000 square feet on the second floor. L’Oreal is currently located at 565 Fifth Avenue between East 46th and 47th Streets.

The French cosmetics giant will be joining tenants such as Capital One Bank, consulting firm Cerami & Associates and sunglasses retailer Solstice Marketing Concepts in the eight-story 404 Fifth Avenue, which was built in 1998.

Retail spaces comprises 29 percent, or 5,000 square foot, of the space available for lease, according to CoStar Property. The building, owned by The Chetrit Group, has an average asking rent of $300 per square foot, CoStar data indicates.

Andrew Goldberg and Preston Cannon of CBRE represented the tenant. Mr. Cannon declined to comment to Commercial Observer on the deal. Winick Realty Group’s Lee Block, Hal Shapiro and CEO Jeff Winick represented landlord Juda Chetrit and the Chetrit Group.

L’Oreal’s headquarters, which currently is across the street at 575 Fifth Avenue, will be relocating to a 402,000-square-foot space at Hudson Yards’s South Tower, CO reported in April 2013.

For more, download the full article in PDF

NY Observer-101215-L’Oreal to Relocate to 404 Fifth Avenue

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

Juda Chetrit, Represented By Winick Realty Group, Leases Fifth Avenue Storefront to L’Oreal 

404-5th-Avenue4-666x444Leading international beauty brand L’Oreal signed a lease for a retail store and training facility at 404 Fifth Avenue, between 36th and 37th Streets, making them the latest brand-name retailer to locate themselves in this dynamic stretch of Fifth Avenue retail.

“The trend on Fifth Avenue has been moving southward as retailers who were once located in the 50s and 40s are recognizing that the stretch from 34th Street to 39th Street offers comparable visibility and foot traffic at a much greater value,” said Winick Realty Group’s Lee Block. “At the same time, the traffic pattern from 34th Street is curving north as tourists continue up Fifth Avenue to visit Lord & Taylor, Saks Fifth Avenue and Rockefeller Center. 404 Fifth Avenue is optimally situated to benefit from both shopping corridors, and L’Oreal recognized the potential of this prime retail storefront.”

With this new long-term lease, L’Oreal is relocating from their existing store at 565 Fifth Avenue while maintaining the same footprint and exposure as they enjoyed in their previous location. L’Oreal is set to occupy a 1,000-square-foot retail space on the ground floor, as well as a 9,000-square-foot second floor that will serve as a training facility. The building offers striking features like loft windows, high ceilings and a wide open space that suited the brand in its relocation effort.

“Ownership is proud to welcome L’Oreal to the building and the neighborhood as they will bring new life to the space and add to the excitement in the area,” said Winick Realty Group’s Hal Shapiro, who, along with Block and Winick Realty Group CEO Jeff Winick, worked with Juda Chetrit and The Chetrit Group to secure the tenant, who was represented by CBRE’s Andrew Goldberg and Preston Cannon.

L’Oreal joins a growing roster of tenants who are benefitting from the proximity to tourist attractions like the Empire State Building, Macy’s Herald Square and Bryant Park, as well as the hip boutique hotels that are being built throughout the surrounding neighborhood. Build-A-Bear recently relocated their store from 565 Fifth Avenue to a retail site at the base of the Empire State Building. Reebok, Goldsmyth, Panera Bread and the SNL Experience have all signed leases nearby, while Charming Charlie selected this section of Fifth Avenue as the ideal location for their first New York City store.

Winick, Block and Shapiro are continuing to market the adjacent retail space at Juda Chetrit’s 404 Fifth Avenue. This prime retail space features 6,000 square feet located directly next to L’Oreal’s entrance on the ground floor, as well as 3,500 square feet of usable lower level space. The ground floor also houses a 1,000-square-foot mezzanine and boasts 20-foot ceilings, as well as ample dual-exposure frontage on both Fifth Avenue and 37th Street for maximum branding and visibility.

“Lower Fifth Avenue is abuzz with foot traffic from local shoppers and office workers, not to mention tourists coming from the Langham Place Hotel located directly next door,” added Block. “404 Fifth Avenue represents a great opportunity to reach unprecedented levels of foot traffic at a fraction of the rents found just a few blocks north.”

For more, download the full article in PDF

citybiz-100715-Juda Chetrit, Represented By Winick Realty Group, Leases Fifth Avenue Storefront to L’Oreal

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_Post_logo

Desnudas aren’t keeping tenants away from 4 Times Square

hal-shapiro-258x300L’Oréal will be moving its retail store and Redken 5th Avenue NYC training facility from 565 Fifth at 46th Street down to 404 Fifth.

The space has 1,000 square feet on the ground and a 9,000-square-foot second floor for training.

Andrew Goldberg and Preston Cannon of CBRE represented L’Oréal, while Winick Realty Group’s Lee Block, Hal Shapiro and CEO Jeff Winick worked with building owners Juda Chetrit and the Chetrit Group.

The building has an asking rent of $325 per square foot for a large adjacent space with 6,000 square feet on the ground with a 1,000-square-foot mezzanine and a lower level with a high ceiling.

Meanwhile, back at 565 Fifth, the L’Oréal and former Build-A-Bear spaces are being combined into a 31,600-square-foot store. This includes 7,433 square feet on the ground at an asking rent of $1,200 per square foot, a 14,150-square-foot lower level and 10,000 square feet on the second floor. It’s being marketed via Paul Berkman and Davie Berke of JLL.

As always, the second and lower levels have decidedly lower asking rents.

For more, download the full article in PDF

NY Post_100715_Desnudas aren’t keeping tenants away from 4 Times Square

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.