Newmark, Cushman & Wakefield Among Winners at REBNY’s 2026 Retail Deal Awards

At an event of nearly 150 members and guests on Wednesday night, the Real Estate Board of New York (REBNY) recognized the most influential retail deals completed in New York City in the past year.

REBNY evaluated retail sales, leasing and development transactions regardless of size and complexity, ranging from large apparel manufacturer leases to luxury hotel redevelopments. The board awarded three winners.

“The range of this year’s winning projects speaks to what makes New York’s retail market so dynamic,” James Whelan, president of REBNY, said in a statement. “We are proud to recognize the professionals behind these deals and grateful to all of the nominees, judges and sponsors who continue to make this competition such an important part of REBNY’s retail community.”

The winners of the board’s “Most Ingenious Retail Deal of the Year” were Cushman & Wakefield’s Sean Moran, Patrick O’Rourke, Catherine Merck and Steven Soutendijk, who worked on clothing retailer Urban Outfitters’ 15,345-square-foot lease in April at Sovereign Partners and HudsonPoint Capital’s 575 Fifth Avenue.

The deal moved the retailer’s store at 521 Fifth Avenue up a few blocks to its new spot on the corner of East 47th Street. The C&W team was also able to incorporate a former L’Oreal lower-level cafeteria with 12,574 square feet into the ground floor’s 2,771-square-foot retail space. Retail asking rent at 575 Fifth Avenue was $3 million per year, or around $625 per square foot for the ground floor and $100 per square foot for the lower level.

“Winning one of REBNY’s prestigious Retail Deal of the Year awards for the third consecutive year is an incredible honor and a testament to the hard work and dedication of our team,” Moran said in a statement. “More importantly, it reflects the trust our clients continue to place in us and the strong partnerships that we’ve built together.”

Meanwhile, REBNY’s “Most Impactful Retail Deal of the Year” was awarded to Newmark’s Jeffrey Roseman and Drew Weiss, who secured luxury Swiss watchmaker Audemars Piguet’s flagship 12,000-square-foot lease at 785 Fifth Avenue in March 2025.

Asking rent for that space was $4.8 million per year. 785 Fifth Avenue, also known as Parc Cinq, is home to several celebrity-owned co-ops as well.

Finally, the winner of REBNY’s “Retail Development/Project of the Year” was Jeffrey Kleiner, chief operating officer and strategic counsel for Dajia US, the U.S. investment platform of Dajia Insurance Group. 

Kleiner worked on the Waldorf Astoria New York hotel redevelopment, a $2 billion makeover that reduced the number of hotel rooms from more than 1,400 down to 375, and added 372 private residences to the property at 301 Park Avenue. Other updates to the hotel property include a new spa, a fully restored grand ballroom and new culinary concepts by executive chef Patrick Schaeffer.

The China government-controlled Dajia put the Waldorf Astoria up for sale in February, just months after the multibillion-dollar renovation was completed. The property last sold for $1.95 billion in 2014.

“The deals and work recognized this year underscore the continued strength and evolution of retail across New York City,” CBRE’s Preston Cannon, co-chair of REBNY’s retail committee, said in a statement. “Whether introducing a new flagship, repositioning a prominent Fifth Avenue location or reimagining an iconic property, these winners reflect the creativity and conviction behind some of the city’s most notable retail activity.”

Isabelle Durso can be reached at idurso@commercialobserver.com.