Schnipper’s Quality Kitchen has signed a lease to occupy 3,021 square feet of ground level retail and storage space at 570 Lexington Avenue, The Feil Organization announced today, confirming previous published reports that the fast-casual restaurant was eyeing the space.
Known for its burgers, fries, shakes and other old-fashioned American-style offerings, the restaurant will open in the fourth quarter of 2013, joining upscale restaurant Mr. K’s at the property.
“We wanted a tenant that would be an amenity for the building and the area,” said Brian Feil, VP of Leasing at the firm, in a statement. “There are not a lot of fast-casual restaurants in the area and Schnipper’s will be perfectly situated to serve this prestigious Lexington Avenue corporate corridor.”
Manhattan-based retail real estate specialist Winick Realty Group is going west. Winick opened its first New Jersey office in early November of last year, with senior vice presidents and founding co-partners Daniel Spector, a 25-year real estate veteran, and Tyler Bennett, with a decade of industry experience, at the helm.
With nine tenants and several exclusive arrangements with prominent landlords already secured, Messrs. Spector and Bennett are optimistic about Winick Realty Group NJ’s prospects in 2013. The Commercial Observer spoke with the partners in Winick’s Midtown office about their incipient developments, the aftereffects of Sandy and Garden State idiosyncrasies.
You both focused on New Jersey real estate before the Winick office opened. What drew you to the market?
Tyler Bennett: I’m a lifelong New Jersey resident, so knowing the market and having done most of my transactions there, it made sense.
Daniel Spector: I’m originally a New Yorker. I was working in a firm that represented retailers in Long Island, including Blockbuster Video. I was helping them expand in New York City and New Jersey. I started doing a lot of work in New Jersey, and after a couple years of commuting over two bridges, I decided that maybe I should move there, as hard as it was for a New Yorker.
TB: [Laughs] Are you moving back?
DS: It’s not too bad, actually.
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.
The Power Broker
Steven Baker built a life, and staked his career, on the Far West Side of Manhattan at a time when the High Line still languished as an abandoned freight track and nearly every block west of Ninth Avenue included a warehouse, garage or parking lot.
While other brokers followed dollar signs in Midtown and across Madison Avenue, Mr. Baker, then a young broker living in a Ninth Avenue bachelor pad, saw potential in the dusty warehouses and loading docks he walked past in the summer of 2000.
“I knew I wanted to control the neighborhood,” recalled the 40-year-old Mr. Baker, now a managing partner at Winick Realty, who has played a leading role in transforming the area.