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Articles Archive for 7 December 2012

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[7 Dec 2012 | No Comment | ]
Winick to lease Durst space

Winick Realty Group has been named exclusive retail leasing agent by The Durst Organization for two retail spaces located in Midtown Manhattan.

The executive team of president Steven E. Baker and executive vice president Kenneth Hochhauser are marketing the availabilities at 655 Third Avenue and 202 East 42nd Street.

The retail space at 655 Third Avenue, between 41st and 42nd Streets, is approximately 2,115 s/f of ground floor space and is situated between the Gap and Starbucks.

Around the corner, 202 East 42nd Street is a townhouse on a highly-trafficked street with seven-day-a-week activity. The site includes a 1,620 s/f ground floor and 1,130 s/f second floor. It is situated between the newly-remodeled Westin Hotel and the Gap.

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[7 Dec 2012 | No Comment | ]

The Manhattan retail market showed continued signs of improvement with high demand and limited availability, which significantly drove up asking rents especially in the most prominent shopping corridors according to The Real Estate Board of New York’s (REBNY’s) Fall 2012 Retail Report.
Prominent retail corridors including Lower Fifth Avenue between 42nd and 49th streets and the Flatiron District performed exceptionally well due to an uptick in consumer confidence and the booming tourism industry in New York City.
The report found that average asking rents on Lower Fifth Avenue, rose 13 percent since …

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[7 Dec 2012 | 5 Comments | ]
Corso lending his talents to the  business of financing apartments

Meridian Capital Group, one of the nation’s leading commercial real estate finance intermediaries, was looking to give its co-op and condo financing business a boost.

Robert P. Corso, Jr. fit the bill so perfectly that a new role was created just for him.

The senior vice president and managing director of the firm’s Co-operative and Condominium Finance Group joined the firm in April, bringing with him more than three decades of experience in real estate finance.

Deals & Dealmakers, Featured »

[7 Dec 2012 | No Comment | ]
Retail dealmakers take ICSC by storm

Upbeat reports of profitability, strategic implementation and opportunity with new sustainability regulations greeted attendees at the opening session of International Council of Shopping Centers New York National Conference on Monday.

Both midtown’s Sheraton Hotel and the Hilton New York burst into a beehive of activity as thousands of the nation’s top retail developers, financiers and tenants came together to broker deals ahead of a potentially uncertain 2013.

The energy felt more like the running of the bulls, than a Spanish debt negotiation despite all of the Euro crisis and fiscal cliff news in the headlines. That may be due to the fact that demand for new retail is up, while supply is down.

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