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Inside Moinian Group’s holiday party

ross-burack-and-kelly-gedinskyYou’d think Marc Holliday, who made $23 million as CEO of SL Green Realty in 2015 alone, would dish out cash for the latest gadgets.

But on Tuesday night he whipped out a near-ancient iPhone 5 to jokingly pretend to take family photos of the Moinians – much to the delight of Mitchell Moinian. As soon as he saw Holliday’s device, the real estate executive, and son to Moinian Group CEO Joseph Moinian, pulled out his own medieval clunk: the exact same model.

If out-of-date phones become a trend among high-powered developers, you read it here first.

What else did we learn at the Moinian Group’s annual holiday party? Deals are still being done, the industry’s mood is cautiously optimistic, and the Far West Side is slowly but surely growing into its own.

“It’s an emerging market,” said SRS Real Estate Partners retail broker Mark Kapnick, who was chatting with Newmark Grubb Knight Frank’s Jeffrey Roseman. In September, Kapnick had brokered Volvo’s 60,000-square-foot lease at Moinian’s Sky tower (the holiday party was held next door at 635 West 42nd Street) at what he said was an asking rent of $6 million per year. A special zoning that makes running a car shop easier helped get the deal done.

“It’s like a liquor license when no one else has it,” he said.

Holliday spoke of the prospect of lighter bank regulations under a Trump administration. The business community is hopeful that Trump, who is set to take office on Jan. 20, takes a look at reforming some of the more unreasonable regulations, he said.

Also spotted: Vector Group’s Howard Lorber, Meridian Capital Group’s Ralph Herzka, Empire Capital Holdings’ Josh Rahmani, the Amirian Group’s David Amirian, Winick Realty’s Jeff Winick, Iron Hound Management’s Rob Verrone and Greenberg Traurig’s Robert Ivanhoe.

Photo Credit: Adam Pincus

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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.

Wall Street Journal

Under Armour Makes the Leap To Fifth Avenue

ross-burack-print-ver-profile-001Under Armour Inc. hopes to up its game with a sprawling retail store in one of Manhattan’s most expensive shopping districts.

The Baltimore sportswear maker’s chief executive told analysts Tuesday the company would put “the world on notice” by taking most of the space once occupied by the FAO Schwarz toy store on Fifth Avenue between East 58th and East 59th streets.

The 53,000-square-foot space in the General Motors Building will give the company a showroom in a section of Midtown Manhattan brimming with high-end retail and year-round throngs of tourists.

“Effectively, the goal that we have is to build the greatest single retail store in the world,” CEO Kevin Plank said in a conference call with analysts. “And we know that’s a big statement with a big company, but I think that that’s the opportunity we have.”

The stretch of Fifth Avenue is also known for its high rent. Toys “R” Us Inc., owner of FAO Schwarz, cited the rising costs of operating on Fifth Avenue when it closed its store in July 2015.

However, some brokers say the high asking rents don’t tell the full story. Landlords are able to attract big retailers because they are willing to offer generous tenant improvement packages to pay for costs such as building the store interior, said Ross Burack, a broker with Winick Realty Group LLC.

“These landlords pay tenants millions so they can get their asking rents, ” Mr. Burack said. “That’s how certain areas, such as Upper Fifth Avenue, are able to keep attracting these retailers at above comparable rents.”

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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.

 

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Trendy NoMad nabe blossoms into NYC’s home design hub

ross burack ny postNoMad’s renaissance has been an extraordinary journey, from a slightly seedy commercial swath to a dining destination, hotel hot spot, and celebrity landing pad for residents like Tom Brady and Giselle Bundchen, Jennifer Lopez and Chelsea Clinton.

Now NoMad — the area around Madison Square Park — is also becoming the city’s latest high-end hub for home design.

“High net worth individuals have moved into the neighborhood’s new luxury buildings, and they want to design their own homes,” says Winick Realty Group’s Ross Burack, a rising young gun and go-to star broker for the elegant neighborhood.

The area — which is also now filled with tourists and tech companies — has drawn more than a dozen home design flagships to the neighborhood in the past few years.

“Most Manhattan architects were already located here. Due to rising rents in Soho, most of the design and furniture companies were forced to relocate. NoMad is the next cool area they discovered,” Burack explains.

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NY Post_052416_Trendy NoMad nabe blossoms into NYC’s home design hub

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 Weekly

Burger joint Whitmans to open third location at 500 West 30th Street

whitmansWhitmans, the East Village burger joint home to the acclaimed “Juicy Lucy,” has inked a 10-year lease at Abington House on the High Line.

The Related Companies announced that Whitmans will open its third location at the luxury rental building located at 500 West 30th Street adjacent to Hudson Yards.

Steven E. Baker, president of Winick Realty Group, and Ross Burack facilitated the transaction.

Whitmans’ Abington House location will comprise a 1,766 s/f retail space with 65 feet of frontage on 10th Avenue  near the entrance to the High Line and 10 Hudson Yards, which will welcome 7,000 new employees at the corporate headquarters for Coach, L’Oréal, VaynerMedia, Intersection, SAP and BCG opening this year.

Opening in the fall, the menu will feature Whitmans’ award-winning Juicy Lucy – a combination of two thin beef patties pinched together surrounding a scoop of pimento cheddar to create a molten core of cheese oozing with every bite – considered one of the best burgers in all of New York City.

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rew_042216_Burger joint Whitmans to open third location at 500 West 30th Street

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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The East End’s biggest summer food festival gets super-sized

ross-burack-print-ver-profile-001East Village burger joint Whitman’s is heading to the High Line.

It has signed a lease to open at Related’s Abington House, a luxury rental condo at 500 West 30th St. in West Chelsea. The 1,766 square-foot space is slated to open this fall.

This will be Whitman’s’ third eatery, following the opening of its outpost in City Kitchen, the Times Square Food Hall. Winick Realty Group’s Ross Burack repped both parties.

For more, download the full article in PDF

NY Post_041116_The East End’s biggest summer food festival gets super-sized

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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Todd Snyder Signs Deal for U.S. Store

ross-burack-print-ver-profile-001Designer menswear label Todd Snyder plans to open its first U.S. store at the base of a Madison Square Park office building.

The new store, expected to open in October on the northeast corner of the park, will have a New York sensibility but include elements similar to those found in the label’s Tokyo store. Called the Townhouse, the Tokyo location is one of four Todd Snyder stores in Japan. It has a tailor shop, a barber and a whiskey bar in addition to apparel and accessories.

The area is at the heart of New York’s technology sector and the store will draw high-net-worth individuals looking for convenience, said Ross Burack, of Winick Realty Group LLC, who represented Moinian.

“We dress younger techie guys but we also dress guys who go into boardrooms,” Mr. Snyder said.

Steve Asch of City Connections Realty Inc. represented Todd Snyder.

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nasdaq_032116_Todd Snyder Signs Deal for U.S. Store

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.