Global Chinese jewelry company Lao Feng Xiang Jewelry has signed a long-term lease for its first North American retail store and showroom at 585 Fifth Avenue.
The store, set to open this fall, will span 6,100 square feet across three floors and a basement space, and the company plans to brand the entire six-story building in celebration of establishing a United States presence in New York City.
On the Market
Broker Lori Shabtai has left Winick Realty Group, where she started her real estate career in 2005, Commercial Observer has learned.
She said she left of her own accord and is contemplating her next career move while penning a series of books about her life. She said she has been in talks with people in various industries about job opportunities, but declined to elaborate.
On the Market
Winick Realty Group is bringing a retail space at 2056 Broadway, between West 70th and West 71st Streets, to the market on behalf of the Brodsky Organization.
The retail at 2056 Broadway consists of a 900-square-foot ground floor and a 1,900-square-foot storage basement with 25 feet of frontage along Broadway. Read More
“Retail for lease” signs went up yesterday at the just-closed 7-Eleven on St. Mark’s Place.
EV Grieve reported the branch closure on November 30, begetting a chorus of “good riddance” sentiments from the site’s largely anti-chain commenters. It was a rare setback for the quintessentially suburban convenient store behemoth as it continues to gobble up Manhattan real estate. Last year, the company opened 27 stores in the five boroughs, bringing it to 124 locations.
YogaWorks is breaking into Brooklyn.
The company announced plans for a 5,800-square-foot studio in the up-and-coming Brooklyn Heights Plaza at 210 Joralemen Street in Brooklyn Heights.
“Getting the opportunity to be a part of the newly constructed Brooklyn Heights Plaza is such an incredible opportunity for our brand,” said Phil Swain, CEO of YogaWorks, in a statement. Read More
On the Market
Google has a new service on the way: Helpouts, a program that allows users to connect with experts in real-time on a variety of topics. In his article for Inman, Paul Hagey predicts that Helpouts could become an important tool in the fee-for-service real estate model, helping agents deliver their services faster.
So could it be useful took for commercial brokers? Our experts weigh in.
An unusual small floor-plate building on an evolving stretch of Fifth Avenue is on the market.
The retail space at 585 Fifth Avenue features 6,100 square feet of retail space spread out between the lower-level, ground, second and third floors. Joseph Isa and Brian Tregerman of Winick Realty Group are marketing the property on Fifth Avenue between 47th and 48th Streets.
Related Companies has selected Winick Realty Group to exclusively market four newly-constructed retail spaces that will anchor a 34-story luxury residential building at 500 West 30th Street.
Located at a crossroads between the High Line, Chelsea and Hudson Yards, the tower offers retailers a space at the base of 390 residential units set to be Read More
Months after launching a New Jersey office, Winick Realty Group is doubling down across the river with a New Jersey investment sales division.
“The investment sales market is red hot right now, with a substantial amount of business that reaches prerecession levels,” Tyler Bennett, a senior vice president and founding partner of the office, said in a prepared statement. “We believe it is the right time to launch an investment sales division to meet this demand.”
Mattress retailer Sleepy’s will open its ninth Manhattan location later this year after signing a 15-year, 8,500-square-foot lease for the second floor at 45 West 34th Street. Asking rent was $90 per square foot.
“The second floor was really the floor we were focusing on to get a retailer,” said Dana Moskowitz, president of EVO Real Estate Group, which represented the landlord, 34th Street Commercial Properties, in the deal. “It has excellent window exposure along 34th Street and I think that is what attracted Sleepy’s.”
Toronto-based fast casual chain Big Smoke Burger will soon be offering poutine–with real Ontario cheese curds and gravy–to New Yorkers after signing a lease at 70 Seventh Avenue.
“This is a great location to launch Big Smoke Burger in the New York market,” said Alexander Hill of Winick Realty Group, who represented the landlord, Group 868 Inc., in a prepared statement. “This area of Chelsea is growing rapidly with the 1, 2, 3 subway stop right nearby, the storefront is going to get seven-day foot traffic.”
When Winick Realty quietly began marketing a pair of high-end retail spaces at 28 West 20th Street eight months ago, potential suitors lined up quickly with hefty offers.
The properties, which can be combined for a total of 12,000 square feet, once housed a nightclub and are packed with lounge and amenity spaces. It’s been used as the backdrop for several big-screen productions, but while the sleek interior is fit for a range of high-end uses, with ceiling heights hitting 16 feet, the ownership group is waiting for a tenant who is not only willing to hit the competitive asking rents but carry a reputation that will brand the building and prosper for years.
“We have the luxury of not only looking for the dollar, but we want the experience,”
Winick broker Ross Burack told The Commercial Observer last week, confirming that “big name restaurants” have put in offers, but also that he’s “marketing to fitness use, health club use… really everyone,” as long as they fit the bill.
Mr. Burack sat down with The Commercial Observer for a sneak peak on the lay of the sprawling retail condo.
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
Pharmacy CVS Caremark has signed a 15-year lease for 21,158 square feet at 3 Columbus Circle, it was announced this morning. Asking rents were not disclosed.
The lease is for the vacant part of the 768,565-square-foot building’s ground floor and a portion of the second floor, according to a statement from SL Green Realty, the landlord in partnership with The Moinian Group. The pharmacy is expected to occupy the space beginning June 1.
A team from Winick Realty Group is exclusively marketing two retail properties totaling 6,400 square feet on behalf of Abington Holding, The Commercial Observer has learned.
Winick President Steven E. Baker, Director Michael Gleicher and David Lawford will market a built-out lounge at 125 East 54th Street with 400 square feet of ground floor space and a 3,600-square-foot subterranean floor with 14-foot ceilings. The spot currently houses The Volstead, a nightspot named after late congressman Andrew Volstead, the father of prohibition.