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[21 Oct 2014 | No Comment | ]
Retail brokers create silk purse from sow’s ear

Winick Realty Group helped a Nolita property owner turn an eyesore into a haven for the artsy set.

Executive vice president Darrell Rubens and colleague Lee Block counselled landlord Samy Mahfar to turn the ground floor apartments are 22 Spring Street into shops.

“Landlord Samy Mahfar made a substantial investment to refurbish what had previously been an eyesore on the block,” said Rubens.

Construction & Design, Featured »

[21 Oct 2014 | No Comment | ]
Cove developers sent back to drawing board

City councillors on Monday sent Astoria Cove developer Alma Realty back to the drawing board with plans for a 1,700 unit Queens waterfront development.

Multiple council members pledged to vote against the project unless Alma increases the number of affordable apartments that it plans to include in the 2.2. million s/f development and commits to hiring union laborers.

“The current proposal includes affordable apartments that will actually be too expensive for the area and doesn’t capture what real Astorians need,ˮ said Councilman Costa Constantinides.

Deals & Dealmakers, Featured »

[21 Oct 2014 | No Comment | ]
Ratner calling time on Barclays Center investment with offer to sell stake

Developer Forest City Ratner is putting its stake in Downtown Brooklyn’s Barclays Center up for sale.

The company, which has a 55 percent majority stake in the sports and entertainment venue, opened the popular arena two years ago.

According to reports, the center has an annual cash flow of more than $30 million, which puts the value of the venue in the $750 million ballpark.

Featured, Retail »

[21 Oct 2014 | No Comment | ]
Villard Mansion clicks with online retailer

High-end menswear e-tailer, Trunk Club, will open its first store at The Villard Mansion on Madison Avenue on November 1.

CBRE Group, Inc. announced today (Tuesday) that it represented the New York Palace Hotel, operated by Northwood Hospitality, in the 26,190 s/f retail lease for the New York flagship store of Trunk Club, an online store bought by Nordstrom earlier this year.

Brokers Weekly, Featured, Finance & Accounting »

[20 Oct 2014 | No Comment | ]
Suzuki secures construction loan for Gramercy condo

Developer Sam Suzuki has secured an $18 million loan to convert a former Gramercy police precinct into luxury condos.

Mortgage Equicap LLC announced this morning (Monday) that it arranged the non-recourse construction loan for a 12-unit condominium conversion near Gramercy Park.

Featured, Retail »

[20 Oct 2014 | No Comment | ]
NGKF lands Grand Central leasing assignment

The Metropolitan Transportation Authority has tapped Newmark Grubb Knight Frank (NGKF) retail team to lead the leasing of Grand Central Terminal.

NGKF executive vice president Mitch Friedel will lead the exclusive leasing assignment. Friedel, whose resumé also includes the leasing of The Shops at Columbus Circle at the Time Warner Center, one of world’s top-producing retail shopping centers by revenue, will work with his team to continue to diversify the retail and restaurant mix in part by engaging new, popular brands expanding in New York to create a fresh shopping experience at Grand Central Terminal.

Deals & Dealmakers, Featured »

[20 Oct 2014 | No Comment | ]
Fotis has the right recipe for sales success

By Dan Orlando
Real Estate was not in Matthew Fotis’s plans when he graduated from Penn State University in 2002.
Though he’s now one of Marcus & Millichap’s top multi-family and mixed use producers, Fotis originally had designs on owning his own eatery when he entered the working world.
“I studied hotel restaurant management at Penn State and the plan was originally to go to culinary school afterwards,” Fotis told Real Estate Weekly. “The plan was to use both of those areas of study to run a restaurant, or to be involved in …

Brokers Weekly, Featured »

[17 Oct 2014 | No Comment | ]
Patience pays off for Lindauer

By Dan Orlando
Shelley Lindauer understands how to make it in real estate, because she understood how to make it in philanthropy.
In both, it’s about identifying needs and then matching them.
“I had million dollar donors at the organization that I was at and fundraising was a big piece of my portfolio.
“Fundraising and real estate sales are very, very similar,” Lindauer said.
The New York native entered the business after a lengthy career as the executive director for Women of Reform Judiasm.
During her tenure, Lindauer doubled endowment funds at the organization before being …

Brokers Weekly, Featured »

[17 Oct 2014 | No Comment | ]
Bushwick neighbor seeing prices go through the roof

By Holly Dutton
The exodus east for Brooklynites searching for cheaper rent has now reached Queens.
A recent third quarter report from Massey Knakal Realty Services showed that buzzy Bushwick’s next-door neighbor, Ridgewood, has exploded in the number of properties sold in the past four years — a meteoric 718 percent rise in building sales since 2010.
The New York Times reported on Ridgewood last summer, detailing how increasing rents in Brooklyn began to push artists and young people towards Queens.
And this April, the New York Daily News ran a piece about Ridgewood …

Featured, Retail »

[16 Oct 2014 | No Comment | ]
Supermarket of the superhighway arrives in Garment District

The Seamless.com of supermarkets has arrived in the Garment District.

Colliers just installed MaxDelivery in a 9,800 s/f space at 318 West 39th Street as part of a roll-out that will see the hybrid grocery store and delivery service spread out across Manhattan.

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