By Billy Gray 6/17 1:28pm

Assignments

Untitled

Danny Meyer In Talks for Bistro in Harlem

The restaurateur Danny Meyer is considering opening a bistro in central Harlem, according to retail brokers leasing a nine-building portfolio around the intersection of West 135th Street and Frederick Douglass Boulevard.

Faith Hope Consolo, Joseph Aquino and Arthur Maglio of Douglas Elliman were named exclusive leasing agents for the 25,000-square-foot portfolio covering 216, 218, 229, 231, 233, and 235 West 135th Street, 2312 Adam Clayton Powell Boulevard and 2518-2524, 2540 and 2542 Frederick Douglass Boulevard. Read More

By Gus Delaporte 5/21 10:00am

ICSC 2013

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The Walmart Conundrum: Four Brokers Weigh In on Behemoth’s NYC Struggle

If one hot-button retail issue has dominated the New York real estate landscape in recent years, it’s been Walmart. The giant discount retailer has been trying to find a suitable location in the city for nearly a decade, but resistance has been fierce. The reasons for this resistance range from the big-box store’s labor practices to the perceived threat to local retailers.

The conflict came to a climax last year when Christine Quinn, democratic candidate for mayor, snarled, “As long as Walmart’s behavior remains the same, they’re not welcome in New York City.” Last week, The Commercial Observer spoke with some of New York’s leading retail brokers about the role of politics in retail real estate, what Walmart can do to ingratiate itself and which locations, if any, are suited to its footprint.

Read More

By Al Barbarino 5/21 9:00am

ICSC 2013

(Credit: LeVar Thomas)

Retail on the Rebound: Spirits High at ICSC Event

In 2009 and 2010 “you could have rolled a bowling ball down the aisle” at the International Council of Shopping Centers’ RECon conference “and it wouldn’t have hit anybody,” Massey Knakal executive vice president of retail leasing Benjamin Fox told The Commercial Observer.

But when an estimated 33,000 real estate professionals converged upon one million Read More

By Billy Gray 5/21 9:00am

ICSC 2013

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Minute By Minute: The First Day and a Half at the International Council of Shopping Centers RECon Expo

On Sunday night at the MGM Grand Garden Arena in Las Vegas, Taylor Swift and Justin Bieber made the fans squeal and the paparazzi snap. But just off the strip, at the Las Vegas Convention Center, the real action got underway with the start of RECon. Below, The Commercial Observer’s
reconnaissance work at The Global Real Estate Convention, where 35,000 registered attendees are helping to shape the future of retail real estate. Read More

By Al Barbarino 4/17 8:00am

Lease Beat

(Credit: Funzug.com)

Douglas Elliman Retail Team Brings More Sunshine to Harlem

Members of Douglas Elliman’s retail group have secured a new 1,750-square-foot location and 10-year lease for Sunshine Day Care at 1325 Fifth Avenue, between 111th and 112th Streets in Harlem, The Commercial Observer has learned.

It is an expansion of their program, which opened three years ago directly across the street at 1330 Fifth Avenue, where the group occupies an additional 5,000 square feet.  In addition, a three-year extension of that lease has been arranged.

“The expansion of this well-respected day care provider speaks volumes about the demand for quality neighborhood services,” said Faith Hope Consolo, who represented the tenant and the landlord, Tahl Propp Equities, with Joseph Aquino and Arthur Maglio. “Having introduced them to Harlem a few years ago, we are thrilled to see the tremendous amount of success they are having at this location.” Read More

By Al Barbarino 4/10 9:00am

Midtown South

(Credit: archdaily.com)

Blurred Lines: What Happens When Flatiron District and NoMad Combine?

Just a few years ago, the NoMad district was more like a no-man’s land, made up of a less-than-pretty arrangement of gritty wholesalers, hair salons and counterfeiters.

Some of that persists, but the before-and-after contrast with the new wave of retailers and clientele in the neighborhood couldn’t be starker, as its boundaries with the similarly much-improved Flatiron District begin to blur.

“They’re starting to blend into each other,” said Michael Azarian, director of retail leasing at Massey Knakal. “The neighborhood has seen a flood of new boutique office tenants, [and] new residential and hotel developments that have been catalysts for change.” Read More

By Gus Delaporte 4/03 10:00am

Retail

wholefoods

Up, Up and Away: Retailers Pushing Boundaries on Upper East Side

National retailers are pushing north from 72nd Street on the Upper East Side, chasing changing demographics and searching for value, according to several brokers active in the market. Both 86th Street between Third and Lexington Avenues and Madison Avenue north of 72nd Street have seen strong activity and booming lease prices.

“I did deals up there 10 or 15 years ago and was hard-pressed to push $110 to $120 per square foot,” said Patrick Breslin, executive vice president of global retail at Studley. “Today, if you can find good real estate on Lex on 82nd to 85th, you’re looking at $400, $500, $600 per square foot.” Read More

By Gus Delaporte 4/01 3:25pm

Assignments

410 Columbus Ave FLYER photo 1 photo-Berkley Girl-3-1-13

Douglas Elliman Tapped to Market Retail Space at 410 Columbus Avenue

Retail leasing at 410 Columbus Avenue will undergo a new strategy now that ownership has selected Douglas Elliman’s Faith Hope Consolo and Joseph Aquino to market over 600 square feet of space currently occupied by Berkley Girl. The current tenant’s lease expires in June, according to Ms. Consolo, chairman of Douglas Elliman’s Retail Group.

Douglas Elliman previously leased an adjacent space at the address to jeweler Alexis Bittar. Asking rent is approximately $300 per square foot.

“We are trying to bring a different type of retailer to the Upper West Side,” Ms. Consolo told The Commercial Observer. “We are trying to bring a little bit of Madison Avenue to the Upper West Side.” Read More

By Billy Gray 3/06 7:45am

Lease Beat

Tribeca Pediatrics' Long Island City branch.

Tribeca Pediatrics Signs For 2,500 Square Feet in Harlem

The progressive children’s medical facility Tribeca Pediatrics has signed a 10-year, 2,500-square-foot lease at 2111 Frederick Douglass Boulevard in Harlem.

It will be the organization’s 10th New York City facility. Tribeca Pediatrics also has a location in Jersey City, New Jersey.

Douglas Elliman retail group Chairman Faith Hope Consolo and Executive Vice President Joseph Aquino, along with Arthur Maglio, represented the tenant and landlord, Tahl-Propp Equities. Asking rents were $80 per square foot, “a very nice number for Frederick Douglass Boulevard and 114th Street,” Ms. Consolo said. Read More

By Al Barbarino 2/19 8:00am

Controversies

Joe Sitt

Retail Brokers ‘Kicking and Screaming’ as Landlords Skip the Middle Man

Some commercial real estate brokers are “kicking and screaming” about the audacity of some city landlords who they claim are disregarding their “exclusives” with retailers by attempting to land tenants on their own.

The idea of “skipping the middle man,” once thought of as a tool for efficiency, is enraging some brokers, who tell The Commercial Observer that large retail owners including  Joe Sitt, Jeff Sutton and Joe Moinian, are steering out of their way – but digging deep under their skin.

“Totally not kosher,” one perturbed president of a top city brokerage wrote in an email to The Commercial Observer.  “It puts the retail brokers in a difficult spot and it is morally incorrect.” Read More

By Billy Gray 2/13 7:30am

Assignments

The soon-to-shutter Mesa Grill at 102 Fifth Avenue. (Photo Courtesy of Douglas Elliman)

Douglas Elliman Markets Fifth Avenue Stores Vacated By Arden B., Mesa Grill

Douglas Elliman Retail Group Chairman Faith Hope Consolo and Executive Vice President Joseph Aquino are marketing the adjacent retail spaces at 102 and 104 Fifth Avenue in the Flatiron District.

The 4,000-square-foot 102 Fifth Avenue will soon be vacated by Mesa Grill, celebrity chef Bobby Flay‘s 22-year-old Southwestern restaurant, whose possible closure Zagat first reported nine months ago. The 150-seat restaurant was due to shutter today, but the landlord gave it a 90- to 120-day extension.

The women’s clothing and accessories chain Arden B. already closed at the 2,200-square-foot 104 Fifth Avenue. Combined, the stores have 60 feet of frontage.

“Right now we’ve got a half-dozen offers and we haven’t said yes to anybody,” Mr. Aquino said. “A couple of restaurants want to take Mesa Grill, another two want to take all of both spaces for retail and another two are interested in the former Arden B.” Read More

By Billy Gray 1/29 1:05pm

Lease Beat

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Orogold Cosmetics Leases 3,600 Square Feet at 118 East 57th Street

Orogold Cosmetics, an upmarket skincare line with a slew of anti-aging products, has signed for a 3,600-square-foot multilevel retail space at 118 East 57th Street between Park and Lexington Avenues, The Commercial Observer has learned.

Faith Hope Consolo and Joseph Aquino, the chairman and executive vice presidents of Douglas Elliman’s retail group, represented the tenant. Alan S. Cohen, Mark Tergesen and Dean Valentino from ABS Partners Realty exclusively represented the landlord.

The six year lease gives Orogold its first Manhattan location. Asking rents were $150 per square foot. Read More

By Billy Gray 1/09 7:30am

Lease Beat

lulu

Athletic Apparel Maker Lululemon Leases Upper East Side Pop-Up

Canadian workout apparel maker lululemon athletica inked a four-month lease for a pop-up space at 1142 Third Avenue, across the street from its flagship store currently undergoing dramatic renovations.

The approximately 2,750-square-foot interim store replaces another temporary showroom from Uniqlo. More firmly rooted neighbors include Thierry Rabotin, Arden B and Bare Escentuals.

Douglas Elliman Retail Group Chairman Faith Hope Consolo and Executive Vice President Joseph A. Aquino represented the landlord, WM Westminster LLC. RKF represented the tenant. Read More