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[22 Jan 2015 | No Comment | ]

RKF has arranged the $26 million sale of a 22,248 s/f retail property located at 3800 Northeast Miami Court in the city’s Design District.
RKF’s Benjamin Mandell, John Ellis and Marty Arrivo represented the buyer, L3 Capital LLC, while the seller Tirrenia Developments, LLC, was represented in-house. The sale officially closed on January 20 at a price per square foot of $1,169 for the building and $1,906 psf for the land.
Located at the corner of NE Miami Court, the newly-constructed, two-story property is situated across from the Design District’s designer parking …

Featured, Retail »

[21 Jan 2015 | No Comment | ]
Booming tourism sector has investors bullish on New York

As we welcome in 2015, there is a raw emotional edge to New York that few developers have seen since the catastrophe of 9/11 when no one knew whether this proud, resilient but grieving city had the means to come back.

And yet the real estate community continues to display its full faith and confidence in this diverse metropolis by sustaining its investment in a wide spectrum of projects that range from office construction to residential housing.

Perhaps nowhere is that investment as evident as in our city’s tourism industry and the hotel construction required to support it.

Featured, Retail »

[21 Jan 2015 | No Comment | ]
Plunging oil prices giving shoppers a shot in the arm

The retail sales decline of 0.9 percent in December from the previous month reported by the U.S. Department of Commerce does not indicate any weakness in the sector.

Going forward, lower gas and home heating oil prices will undoubtedly boost retail sales, particularly at the mid- and lower-price points, as those consumers feel that they can now afford to splurge a bit. Consumer confidence is rising, and that will bode well for the rest of the year.

Retail »

[20 Jan 2015 | No Comment | ]

Faith Hope Consolo, Chairman, and Joseph Aquino, Executive Vice President of Douglas Elliman’s Retail Group have arranged the lease for a contemporary art gallery, Diamondocity, at 958 Lexington Avenue.
Founded by two artists, the concept “started from the love of art and design combining the unique sensibility of modern images with hand set crystals that add sparkle and happiness to any room.”
The new space represents the first dedicated gallery for Diamondocity and is situated on one of the area’s prime commercial corridors, surrounded by such neighboring retailers as Cotelac (another tenant …

Retail »

[20 Jan 2015 | No Comment | ]

Tom Rettaliata and Brian Schuster of Ripco Real Estate represented Darden Concepts and Ignite Restaurants in the lease of the site located between Queens Center Mall and the Long Island Expressway in Elmhurst, Queens.
Olive Garden (8,297 s/f), Longhorn Steakhouse (8,000 s/f), and Joe’s Crab Shack (8,000 s/f) now occupy the previously vacant location.
All three restaurants face Queens Center, one of the strongest malls in the country, generating sales of $1,059 psf.
The average population within a 1 mile radius is 186,331 and average household income within a one mile radius is …

Retail »

[20 Jan 2015 | No Comment | ]

Costa Land Company has leased its prime Midtown retail space at 58 East 56th Street to Roast Kitchen, a subsidiary of Pax Ventures.
The location is steps from 432 Park, IBM, Sony and more.
Costa Land Company owns a diversified portfolio of commercial, office and residential real estate across the country. This includes various locations in New York City as well as several hotels and resorts in Italy including Villa Lilly on the Amalfi Coast, a famous celebrity destination.
In 2013, Costa Land Company sold a SoHo retail condominium at 145 Greene Street …

Featured, Retail »

[20 Jan 2015 | No Comment | ]
10 Times Square takes a bow on B’way

Winick Realty Group and L.H. Charney Associates announced that 1441 Broadway has been officially awarded a new address: 10 Times Square.

The announcement comes as the building is undergoing a comprehensive renovation worthy of its Times Square position and address.

Retail »

[20 Jan 2015 | No Comment | ]

The New York CPEX Retail Leasing Team announced the completion of a lease agreement at 747 Franklin Avenue with Brooklyn Winery, a boutique urban winery.
Located in Crown Heights, Brooklyn by the corner of Franklin Avenue and Sterling Place, the three-story mixed-use property offers approximately 1,425 s/f of ground floor retail space with an identically sized basement.
Brooklyn Winery is expanding from their original location on North 8th Street and Driggs Avenue in Williamsburg.
CPEX’s Retail Leasing Team, consisting of Managing Director Ryan Condren and Associate Directors Kristina Triglia and George Danut, represented …

Retail »

[20 Jan 2015 | No Comment | ]

Sabre Real Estate Group and Pan Brothers Associates have arranged a lease in Park Slope, Brooklyn, for a café to be operated by gourmet coffee roaster, Blue Bottle Coffee.
The 1,050 s/f space, formerly occupied by Ocean Fish Market, offers 50 feet of frontage on 7th Avenue and 30 feet on 3rd Street.
Blue Bottle, a coffee roaster and retail chain based in Oakland, California and specializing in single-origin coffee beans has been expanding in the East.
They are known for their carefully crafted coffee at “pour-over bars”. The company has $45 million …

Retail »

[20 Jan 2015 | No Comment | ]

Peter Braus, managing principal, and JP Sutro, director of Lee & Associates NYC LLC have arranged a 10-year lease for Deca Salon at 239 Mulberry Street.
Located between Spring and Prince Streets, the new space marks the second Nolita location for the full-service beauty stylist and hair salon. Neighboring businesses include Parm, Grey Dog, Kiehl’s and McNally Jackson.
“In the first location on Spring Street, the tenant saw firsthand the benefits of the area’s influx of tourists, residents, employees and shoppers,” said Braus.
“This location will help them realize their goals of expanding …

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