By Billy Gray 4/18 3:13pm

Assignments

Renderings of the new Pier 17

RKF Named Exclusive Leasing Agent for 365,000 SF South Street Seaport Retail

The Howard Hughes Corporation named a team from RKF the exclusive leasing agent and consultant on the recently approved South Street Seaport redevelopment.

RKF Chairman and CEO Robert K. Futterman, Executive Vice President Karen Bellantoni and Tess Jacoby will represent Hughes Corp. on this pivotal project, which will bring 365,000 square feet of retail, dining and entertainment space to a Seaport shellacked by Superstorm Sandy last fall. Read More

By Al Barbarino 4/08 2:45pm

Demolition Derby

An SL-Class Roadster at the Mercedes-Benz Headquarters, Eleventh Avenue (Credit: Al Barbarino)

Owners Demolishing Frank Lloyd Wright-Designed Mercedes-Benz Showroom

Following Mercedes-Benz’s departure in January from the showroom it occupied at 430 Park Avenue since the late 1950’s, ownership is demolishing the space, The Commercial Observer has learned.

The demolition began last week following the luxury car dealer’s departure on January 7, when it consolidated its operations at its national headquarters at 770 Eleventh Avenue, sources confirmed, including Roque Toribio, a security guard at the Park Avenue location who was not authorized to give The Commercial Observer a peek at the space. Read More

By Billy Gray 3:05pm

Lease Beat

345 Adams Street

345 Adams Street 100 Percent Occupied After Orange Leaf’s Cool 1,000-Square-Foot Deal

Orange Leaf signed a long-term, 1,000-square-foot lease at 345 Adams Street, giving the Downtown Brooklyn retail condo 100 percent occupancy.

Ariel Schuster and Brian Segall of RKF represented the landlord, Muss Development LLC. Henry Goldfarb, Stanley Lindenfeld and Adam Frisch of Lee & Associates represented the tenant.

This will be Orange Leaf’s first Brooklyn location. The fro-yo chain has six stores throughout Manhattan and Staten Island. The retailer will count other fast food outlets including Panera Bread and Potbelly as neighbors. The Texas barbecue joint Hill Country, which originated in Murray Hill, announced an 11,000-square-foot lease at 345 Adams earlier this month. Read More

By Gus Delaporte 3/06 2:30pm

Lease Beat

345 adams

Hill Country Coming to Downtown Brooklyn

Hill Country has signed a long-term lease for 11,000 square feet at 345 Adams Street in Downtown Brooklyn, it was announced today.

The Texas-themed restaurant operates two locations in Manhattan, at 30 West 26th Street and 1123 Broadway, the site of Hill Country Chicken. Hill Country also hosts live music at their Boot Bar.

Hill Country will occupy space at 345 Adams alongside Panera Bread and Potbelly. The barbeque restaurant will also share a pedestrian plaza along Adams Street and Willoughby Street with Shake Shack. Read More

By Billy Gray 2/28 7:45am

Lease Beat

300 and 302 Canal Street (Credit: NYChinatown.org)

GNC Leases 2,100 Square Feet at 302 Canal Street as Corridor Transforms

GNC signed a 10-year lease (with a five-year option) for 2,100 square feet at 302 Canal Street, The Commercial Observer has learned.

It will be the health and wellness retailer’s 47th Manhattan location. The store will be evenly divided between a ground floor and basement space. The previous tenant was a local shoe and apparel store.

RKF‘s Ariel Schuster and Greg Covey represented the tenant. ABS Partners Real Estate‘s Mark Tergesen represented the landlord, Charbern Management Group. GNC’s Rory McCutcheon worked in-house on the deal. Read More

By Al Barbarino 2/26 11:03am

Development

Rendering of 7 Bryant Park

Developers Break Ground at 7 Bryant Park

Developers broke ground at 7 Bryant Park yesterday, with a consortium of public officials including Mayor Michael Bloomberg gathering to pitch the trophy office tower as a boon for the city.

Politicians are touting the planned 28-story, 470,000-square-foot steel and glass tower, slated for completion in the first quarter of 2015, as a magnet for good jobs, talent and companies.

“The best days are still to come to Bryant Park – a place the city has worked hard to bring roaring back to life,” Mr. Bloomberg said at the ceremony, adding that the project will bring “more top-tier, cutting-edge commercial space, and more leading companies and their tax revenue to Midtown Manhattan.” Read More

By Billy Gray 2/21 8:00am

Lease Beat

Club Monaco's current store at 520 Broadway.

Club Monaco Signs 5,100-Square-Foot Lease At 532 Broadway

Club Monaco is moving on up to the northeast side of Broadway and Spring Street.

The mid-price casual apparel company signed a 15-year, 5,100-square-foot lease at Thor Equities‘ 532 Broadway in Soho and will move there from its current 14,500-square-foot location at 520 Broadway.

Robert Cohen of RKF represented the tenant. Joseph Sitt‘s Thor Equities represented the landlord in-house. Asking rents were $800 per square foot. Read More

By Billy Gray 2/12 12:29pm

Lease Beat

Photo Courtesy of Off The Wall

Off The Wall Frozen Yogurt Continues Four-Store Manhattan Expansion

Off The Wall Frozen Yogurt recently procured four Manhattan leases with the help of RKF Vice President Joshua Strauss and Director Zach Winkler.

The chain, which originated in Cedarhurst, NY, opened its first city outpost last spring at 1053 Second Avenue between 55th and 56th Streets. (RKF’s Michael Worthman assisted with that deal) That 2,050-square-foot shop was joined last week by a 2,000-square-foot location at 248 West 23rd Street in Chelsea.

A 1,700-square-foot store is due to open at 4 West 14th Street next month, followed by a 2,500-square-foot outpost at 11 Times Square. 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

By Al Barbarino 12/13/12 7:30am

Lease Beat

7-11-logo

7-Eleven Takes 2,500 Square Feet at 111 Fulton Street

Convenience store chain 7-eleven has signed a long-term lease for roughly 2,500 square feet of retail space at 111 Fulton Street in the Financial District, The Commercial Observer has learned.

Ross Kaplan of Newmark Grubb Knight Frank represented the landlord, while Ariel Schuster and Greg Covey at RKF represented the tenant.

“There’s a flurry of activity going on Downtown,” Mr. Kaplan said, who has represented the landlord for the last year.  “Tourism and a dense commercial and residential population is a big draw for retailers in this part of town, especially quick-service shops.” Read More

By Karsten Strauss 12/10/12 2:59pm

ICSC

Adelaide Polsinelli, senior director at Eastern Consolidated

ICSC: Lessons Learned and Shopping Hotspots

The International Council of Shopping Centers’ (ICSC) New York conference is over. Meetings were held, retailers were courted, flirtations between players crackled with possibilities. The Commercial Observer asked three experienced New York brokers what they learned at the conference and where the city’s retail hotspots are. This is what they said…

West Side Story

“With Read More

By Billy Gray 12/05/12 7:00am

ICSC2012

Futterman for web credit Daniel M. WEiss

Retail Redux: Robert K. Futterman on ICSC, Hurricane Sandy and More

In the merely 13 years since its founding, the retail real estate brokerage Robert K. Futterman & Associates has been responsible for $20 billion worth of transactions. The firm’s chairman and chief executive, Robert K. Futterman, has helped tenants and landlords sign the dotted line on $10 billion worth of deals while making his company a presence in New York, Las Vegas, Los Angeles, New Jersey and San Francisco.

Mr. Futterman spoke to The Commercial Observer as he wrapped up prep work for the International Council of Shopping Centers’ chaotic New York conclave, sharing his thoughts on the past year and future of retail real estate, the rebound from Hurricane Sandy and Downtown’s increasingly amorphous boundary. Read More

By Billy Gray 12/04/12 3:16pm

Lease Beat

2373 Broadway

Banana Republic Signs for 12,245 Square Feet on Prime Upper West Side Corner

RKF has arranged a 12,245-square-foot lease for retailer Banana Republic at 2373 Broadway, a source tells The Commercial Observer. The national apparel brand’s new space on the ground and second floors of 22-story luxury residential building The Boulevard features 150 square feet of wraparound corner frontage on the northwest corner of Broadway at 86th Street.

The Boulevard is owned by Boulevard West LLP, a unit of Texwood Investments, Inc. RKF represented the building owner and tenant. Banana Republic, a division of The Gap, Inc., will close an existing store across the street at 2360 Broadway and plans to open the new location in early 2013, sources said. Read More

By Al Barbarino 11/15/12 10:22am

Lease Beat

mens-wearhouse-150x150

Men’s Wearhouse Signs Upper East Side Lease

Men’s Wearhouse has signed a 10-year, roughly 8,800-square-foot lease at 1219 Third Avenue in the Upper East Side, The Commercial Observer has learned.

The menswear company is taking a 6,665-square-foot ground floor space and 2,100 square feet in the basement, said Gary Alterman of RKF, who represented both the tenant and owner, Fraydun Realty, in the transaction. Read More