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
A 4,000-square-foot Bank of America branch location under construction at 6601 18th Avenue in Bensonhurst, Brooklyn has changed hands for $8.45 million, city records show.
The property sits on the corner of 66th Street and 18th Avenue, which is also known as Cristoforo Colombo Boulevard and is one of the neighborhood’s most heavily-trafficked thoroughfares.
Massey Knakal marketed the property, originally for $9.75 million, as offering “a high yield, management free investment opportunity in the heart of one of Brooklyn’s fastest growing middle-class neighborhoods.” Read More
Law firm Goetz Fitzpatrick has signed 12-year renewal and expansion at 1 Penn Plaza, The Commercial Observer has learned.
The construction and commercial litigation firm moves from its 13,000-square-foot space on the 44th floor to 17,600 square feet on the 31st floor as part of the firm’s ongoing growth plan.
The firm has been in the building, owned and operated by New York-based real estate investment trust Vornado Realty Trust, since the 1970’s, brokers said.
“The Firm’s practice areas are all doing well, which supports their recent growth,” said Newmark Grubb Knight Frank’s Mark Weiss, who represented the law firm with Robert Eisenberg. “It’s a great building and there’s a long history there between the tenant and the landlord.” Read More
A new report from the New York City Economic Development Corporation reveals that 42.7 percent of the city’s 1,700 coffee shops and cafes are either Dunkin Donuts or Starbucks branches.
There are 454 Dunkin Donuts locations and 272 Starbucks stores across the five boroughs, according to findings that the E.D.C.’s StatsBee’s blog published on Friday. The East Village’s 10003 zip code was the most caffeinated in the city, with 49 cafes. Midtown and Hell’s Kitchen’s 10019 zip code followed, with 47 shops. Outside Manhattan, Park Slope (11215) and Glendale (11385) each had 32 coffee shops. Both narrowly edged out Williamsburg (11211), which had 31 joe-providing freelancer magnets. Read More
Starbucks signed a 10 year lease renewal and expansion at 55 Broad Street in Lower Manhattan.
The coffee behemoth took an additional 1,000 square feet at the Rudin Family Holdings-owned office building, bringing its total footprint there to over 3,500 square feet, making it the largest Starbucks downtown and among the biggest in the city.
Michael Rudin, vice president of Rudin Management Company, represented the landlord. David Firestein of The Shopping Center Group represented the tenant. Read More
Gloria Jewel, the Hamptons-based apparel and accessories line, signed a 10-year lease for 600 square feet of retail space at 180 West Broadway in Tribeca. It is the company’s first Manhattan retail outlet. Gloria Jewel has stores in Westhampton Beach, Bridgehampton and Amagansett.
Trend Setter Real Estate‘s Cheryl Cohen represented the tenant. SRS Real Estate Partners‘ Mark Kapnick represented the landlord, Queenwood 34 LLC. Asking rents were $9,000 per square foot. Read More
Capstone Equities has scooped up a prominent retail corner location at 1-9 Flatbush Avenue in Brooklyn, with plans to reposition the retail and potentially use the air rights on the current structure to tack on a residential component, sources tell The Commercial Observer.
City records confirm that the firm paid $14.25 million for the two-story property, and a source familiar with the company said the plan is to draw in a stable retailer then assess the options to use the 50,000 square feet of air rights to build residential units – and possibly dormitories. Read More
The owner of the old Lenox Lounge in Harlem has signed a 15-year lease on a new beginning at 333 Lenox Avenue.
The renowned Harlem jazz club, founded in 1939, is set to reopen sometime this summer after owner Alvin Reed was forced to move from the club’s neighborhood staple just two blocks away at 288 Lenox Avenue, due to an insurmountable rent increase.
The original location was host to performances by jazz greats including Billie Holiday, Miles Davis, and John Coltrane. Read More
Eastern Consolidated has arranged the sale of a 1,500-square-foot retail condo at 119 Chambers Street, currently occupied by high-end designer thrift shop Housing Works, for $2.5 million, The Commercial Observer has learned.
The condo, located in TriBeCa’s densest retail thoroughfare, features a 1,500-square-foot street level space, with 25 feet of retail frontage, and a renovated 1,500-square-foot basement. Read More
Deal$ is set to open a new location at 301 West 145th Street on the southeast corner of Frederick Douglass Blvd.
The discount chain will join retail tenants Bank of America, Starbucks, and New York Sports Club in leasing the base of the Langston Condominium. Developed by the Gotham Organization and the Richard Group, the Read More
Winick Realty has brought in a mysterious new tenant to Columbus Square, a 350,000 square foot retail development on the Upper West Side, the company announced yesterday. Read More
Not many landlords would have reason to celebrate landing a deal with Starbucks, a nearly ubiquitous retail presence in Manhattan.
But at 1140 Broadway, a roughly 200,000 square foot building owned by Colliers International executives Andy Roos and Michael Cohen, the deal the pair recently negotiated with the coffeehouse giant felt notable. Read More
For caffeine guzzlers unable to find one of the 17,000 Starbucks currently operating on, oh, every other block across 50 countries, the search just got a little easier.
Indeed, W&H Properties inked a 10-year, 1,189-square-foot lease for the Seattle-based coffee brewer in its last remaining retail space at 1350 Broadway, brokers told The Commercial Observer. Read More
You can already follow the trail of Crumbs from the tip of the island almost to the top of Central Park. But the cupcake maker could eventually become one of the city’s most ubiquitous food chains.
“How many locations does Starbucks have?” Newmark Knight Frank’s Jeff Roseman, who represents the tenant, asked The Commercial Observer Read More
