Health care

Health Care Goes One-Stop Shop

7 Mott Street

This year is likely to revolutionize the health care industry as 3 million to 4 million previously uninsured Americans have access to medical coverage due to the Affordable Care Act. Between the increasing number of patients, the high prices of real estate and greater demands for efficiency, health care pros are shrinking and altering their work spaces to get patients in and out with ease and speed.

Perhaps the most significant change to affect the real estate industry is the move away from overnight stays in hospitals to shorter-term stays in ambulatory care facilities. Treating patients in these facilities costs less, and with the advent of technology, surgeries that previously had to be done in a hospital can now be done in an ambulatory setting.

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On the Market

Former Bacchus Wine Location Hits the Block

2056 Broadway

Winick Realty Group is bringing a retail space at 2056 Broadway, between West 70th and West 71st Streets, to the market on behalf of the Brodsky Organization.

The retail at 2056 Broadway consists of a 900-square-foot ground floor and a 1,900-square-foot storage basement with 25 feet of frontage along Broadway. Read More

Sales Beat

Massey Knakal Arranges $8.9M Retail Sale Along Flatbush Avenue

357-365 Flatbush Avenue

Massey Knakal has arranged the $8.9 million sale of a 10,400-square-foot mixed-use building at 357-365 Flatbush Avenue, located between Sterling and Park Places in Brooklyn’s Prospect Heights neighborhood.

The new owner purchased the property as a retail play, with hopes of bringing in a major retailer in the vein of a CVS or Duane Reade—if not a fashion boutique Read More

Food For Thought

The Manhattanization of Williamsburg

Manhattan concepts and national tenants have finally realized what hipsters have known all along: Williamsburg is cool.

It’s not that operators didn’t notice Williamsburg before, but, as Manhattan became fully developed, these industrial plots across the river became attractive investment opportunities with minimal travel time to the main city (only one stop on the L). Read More

Wired City

Duane Reade Boasts 1 Million Twitter Followers


New York City drug store giant Duane Reade is connecting with more customers via social media.

Its Twitter fan base surpassed 1 million followers, a major milestone for the Walgreen-operated drug store chain among the drug, food and mass-arena segment. Duane Reade has raised its presence on Twitter more than 6,000 percent in the past year.

Calvin Peters, digital communications manager for Duane Reade, credited its loyal customers for the increase. The company has also run social media awareness campaigns for the brand within the past year.

“This social milestone is all about our customers and represents the ability and focus we have to seamlessly reach them whenever and wherever they are with useful content they crave and now have come to expect via effective two-way communications,” Mr. Peters said. “Our goal has been social community building and expanding relevant engagement to enhance our overall customer experience. achieving this while also creating social communication vehicles that can generate tangible ROI results for both corporate and vendor initiatives have proven successful.”

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Lease Beat

Private School Claims Space at 40 Wall Street


Green Ivy Schools has signed a 25-year lease for 80,000 square feet in The Trump Building at 40 Wall Street, the New York Post reported this week. Asking rents were in the mid-$30s per square foot, according to the report.

The school, which will house pre-K through 8th grade, will open in fall 2014, while an additional preschool location will open in Battery Park City in fall 2013, according to Green Ivy’s website.

“We’re very excited about the space,” Donald Trump, Jr. told the Post. “The use will be great for the area and will revitalize the Pine Street entrance.” The Pine Street entrance will be used exclusively by the school, the Post reported. Read More

Lease Beat

TD Ameritrade Lease at 100 Broadway Fills Void Left During Darker Days


TD Ameritrade has signed a 10-year, 9,509-square-foot lease for the ground floor and lower level at 100 Broadway, The Commercial Observer has learned.

The corner retail space in the 24-story office building features more than 170 feet of frontage along Broadway and Pine Streets.

“It’s a great corner space in the heart of the Financial District and steps from Wall Street, which lends itself well to a prominent financial institution like TD Ameritrade,” said Cushman & Wakefield’s Gene Spiegelman, who represented the landlord Madison Capital with Michael O’Neill. Read More

Lease Beat

Winick Realty Group Selected to Lease One New York Plaza Retail Concourse

One New York Plaza

Winick Realty Group has been selected by Brookfield Office Properties to exclusively market 40,000 square feet of vacant sub-level retail space at One New York Plaza.

The space, damaged during Hurricane Sandy and slated to be rebuilt and repositioned, makes up the concourse level of the 2.6-million-square-foot Class A tower, with entryways on Whitehall, Broad and Water Streets. Read More

Sales Beat

SL Green, Chinese Government, Follow Hipsters to Williamsburg

250 Bedford Avenue

First it was the hipsters.  Then it was China.  And now the city’s largest office landlord, SL Green Realty Corp., is finally seeing promise in the residential development of Williamsburg, Brooklyn.

The real estate investment trust and commercial real estate giant announced this morning that it has agreed to purchase a newly completed, vacant residential building in the hip-turned-posh Brooklyn neighborhood — the company’s first foray into Brooklyn’s residential market.

Information in a prepared statement sent by the company suggests that the address is 250 Bedford Avenue, though it was not specified. Read More

Lease Beat

N+S Wines Set to Open in Queens

Courtesy of Komo News

N+S Wines is set to open up shop in Queens.

The newly established liquor store will be opening a location in the shopping plaza at 5850 Francis Lewis Boulevard in Flushings, brokers told The Commercial Observer.

“It’s a great location with a lot of residential customers,” said Grant Dolgin, a broker at Kalmon Dolgin Affiliates. Read More

Power Broker

Chasing Manhattan: Westchester’s Own Chase Welles on Big Plans for Big Apple

Chase Welles.

Chase Welles never needed a Manhattan office address to execute big deals. But now he has one, and a new firm too.

For years, Mr. Welles has been one of the city’s top retail brokers despite being based in White Plains—an unusual headquarters for such a prolific and successful deal-maker in Manhattan, well-known for its clubby retail industry.

Recently, however, Mr. Welles relocated to an office overlooking Columbus Circle. Meanwhile, the firm where he is a principal, Northwest Atlantic, merged with the Shopping Center Group, a national retail services company in Atlanta. Read More