Roosevelt Island Gambles on a Brighter Future
Hal Shapiro, managing director of Winick Realty Group, which does retail leasing, said the problem is that many people don’t really know the island. He needs to explain things about it, such as its beautiful scenery with open space and parks, its population and economic increase and in the past years with finished new residential buildings, and its potential growth since Cornell is coming. And most importantly, he pointed out, that the island is underserved. He said, now he is talking with three potential tenants—a Thai restaurant, a daycare center, and a bank, asking for 50 dollars per square feet.
“Things are happening,” said Shapiro. Saks-Rosenberg agrees. Five years ago the Main Street Retail Study said that Roosevelt Island residents do just 12% of their shopping on the Island, she said, “and now people start to really shop on the island and go to the stores, which was not the case two years ago. ”
For more, download the full article in PDF
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.