ICSC 2015

Robert K. Futterman Is Expanding All Over the Map, but He’s Got His Sights Set on Downtown Manhattan

Robert Futterman has his sights on Downtown Manhattan (Photo: Celeste Sloman/Commercial Observer).

Robert K. Futterman has a packed itinerary while in Las Vegas for the International Council of Shopping Centers’ RECon, but he made sure to schedule appointments with primo brokers from Boston and Washington, D.C. That’s because his firm is considering a foray into those markets.

Mr. Futterman, the founder, chairman and chief executive officer of RKF (the “K”, in case you were wondering, stands for Kenneth), established in 1998, has eight offices in North America with 95 brokers and 45 people in support roles. Fifty-four of those brokers are in the New York office, at 521 Fifth Avenue. Read More

Lease Beat

Capital One Teams Up With Food Retailer in Union Square

Rendering of 853 Broadway.

The Feil Organization inked a new 10-year lease with Capital One for 15,000 square feet of retail space across three floors of 841-853 Broadway in Union Square, a person familiar with the matter told Commercial Observer.

The bank teamed up with an undisclosed food retailer to roll out “a new store within a store concept” at the roughly 260,000-square-foot property, that person said on the condition of anonymity. Read More

Lease Beat

Adidas Races to Downtown Brooklyn Space

FUN RUN: New Adidas flagship store is coming.

Downtown Brooklyn is switching shoes, trading in a Bakers, for an Adidas.

As first reported in the New York Post, the German sportswear company Adidas just signed a new lease for a 4,500-square-foot-space at 452 Fulton Street. The rent will be $350 per square foot, which marks a high for the borough. Read More

Sales Beat

Old Met Foods Supermarket Site in Cobble Hill Sells for $18.5M

197-205 Smith Street

The retail property at 197-205 Smith Street in Cobble Hill was sold to a partnership that includes the Jackson Group, Aurora Capital and ACHS Management for $18.5 million, according to a press release issued by real estate firm RKF.

The 20,000 square foot building, located on the northeast corner of Baltic Street, includes 10,000 square feet on the ground floor and 10,000 square feet in the basement. It was previously home to a Met Foods Supermarket. The press release noted the sale included additional air rights of 10,000 buildable square feet for future renovations. Read More

The Lobby

NGKF Beefs Up Retail Brokerage with Seven Hires

NGKF logo

Newmark Grubb Knight Frank has added seven experienced retail brokers from prominent brokerages to its ranks over the past two months, Commercial Observer has learned.

Veteran dealmakers Thomas Citron of Cushman & Wakefield, Matthew Krell of CBRE and Howard Gilbert of RKF headline the migration to NGKF as the firm continues its global growth following its 2011 purchase by BGC Partners. Read More

Lease Beat

CityMD to Open New UWS Location

2025 Broadway

Urgent care and walk-in medical services provider CityMD will open its 12th Manhattan location and third on the Upper West Side through a 4,568-square-foot lease at 2025 Broadway on the northwest corner of West 69th Street, RKF announced last week.

The expanding chain of 31 locations in the five boroughs, Long Island and Rockland County will open early next year in the ground floor of a 30-story, 215,000-square-foot Nevada Towers residential co-op, said RKF executive vice president Ariel Schuster. Read More

Lease Beat

Restaurant and Hair Salon Sign East Village Leases

167 Avenue A

Mediterranean restaurant Ethos and hair salon Shampoo will open new locations in the East Village through ground floor and basement leases in Kushner Companies properties, Commercial Observer has learned.

The two new deals for the restaurant in a 3,680-square-foot space at 167 Avenue A between East 10th and East 11th Streets and the salon in a 2,334-square-foot storefront at 14 Avenue B between East 2nd Street and Houston Street lead a portfolio of seven other retail spaces that RKF is marketing on behalf of Kushner in locations stretching across the Village and bordering the Soho area–potential locations that offer retailers excellent value, said RKF senior director Ross Berkowitz. Read More

The Lobby

RKF Announces Slew of Promotions

Jeremy Ezra

Six brokerage pros scored promotions at retail leasing, investment sale and consulting service giant RKF following the company’s expansion by nearly 5,000 square feet at its 521 Fifth Avenue headquarters, the firm announced Friday.

Brokers Jeremy Ezra, Greg Covey, Caleb Petersen, Marc Finkel, Brian Segall and Ross Berkowitz grabbed new titles at the company where officials say business has been booming. Read More


RKF to Market Retail Space at World-Wide Group’s QLIC


World-Wide Group has appointed RKF as the exclusive agent for 8,300 square feet of ground-level retail space at QLIC, a 21-story residential building in Long Island City, according to a release issued by the company.

The retail space for the development is situated on Queens Plaza North from 23rd to 24th Street, and has 186 feet of continuous frontage, the release noted. Read More

Lease Beat

Pret A Manger Signs for Corner Space at 600 Lexington Avenue

600 Lexington Ave

A new Pret A Manger sandwich shop will open this month at 600 Lexington Avenue in Midtown East after the London-based chain signed a lease for a 2,577-square-foot storefront at the tower bordering East 52nd Street, Commercial Observer has learned.

RKF’s Ariel Schuster and Jackie Totolo represented Pret A Manger in the negotiations, while Mr. Schuster and another RKF colleague, Ross Berkowitz, represented SL Green Realty Corp., the owner of the 36-story office tower. Read More

Lease Beat

H&M Label & Other Stories Signs Soho Retail Lease

575 Broadway. (PropertyShark)

H&M’s sister label, & Other Stories, has signed a 10,915-square-foot lease at 575 Broadway. The Soho address will house the retailer’s first location in the United States and eighth worldwide.

The space carved out for & Other Stories is split between 7,215 square feet on the ground floor and 2,750 square feet on the lower level. The retailer expects to open for business at 575 Broadway later this year. Read More

ICSC 2014

RKF’s Growing Gains

430 West 15th Street, where RKF is marketing 27,000 square feet of retail.

After recently expanding several of its offices, including those in Manhattan, RKF’s Robert Futterman said the retail brokerage could stray from its anti-poaching past as it continues to grow amid ideal market conditions.

The firm expanded this month into 20,987 square feet on the seventh floor at 521 Fifth Avenue, as first reported by Commercial Observer. The firm also recently struck deals for larger offices in New Jersey and Miami and has made forays into London and Toronto. Read More

Lease Beat

Vanguard Wine Bar Signs Upper West Side Lease


Vanguard Wine Bar has signed a 12-year, 1,000-square-foot lease at 189 Amsterdam Avenue on the Upper West Side. The new location, Vanguard’s second in New York, is expected to open on May 8.

As reported by Commercial Observer, owner Stefan Mailvaganam opened the first Vanguard Wine Bar location at 530 Second Avenue in East Midtown in late 2012. Mr. Mailvaganam is also the co-owner of Bar Veloce in Greenwich Village and Custom American Wine Bar in Williamsburg. Read More

Lease Beat

The Children’s Place Coming to Flushing Mall [Updated]

40-24 College Point Blvd.

Children’s apparel and accessories store The Children’s Place will be setting up shop at The Shops at SkyView Center in Flushing, Queens.

The new digs will occupy 3,799 square feet on Level B, the Wall Street Journal reported. The asking rent was $75 a foot for the 10-year lease. The Children’s Place brings the mall to 95 percent leased and the mall’s developer, Onex Real Estate Partners, is reportedly talking to two other national children’s retailers for the remaining two spaces. Read More