Articles in the Retail Category
The Mall at Bay Plaza, New York City’s largest and first enclosed fashion mall in over 40 years, officially opens to the public today.
To celebrate the occasion, elected officials, community leaders, mall representatives and retailers gathered at the ribbon cutting ceremony where Lieutenant Governor Robert J. Duffy, Congress Member Eliot Engel, Public Advocate Letitia James, Borough President Ruben Diaz Jr., State Senator Ruth Hassell-Thompson, Assembly Member Michael Benedetto, Council Member Andy King and Commissioner of the New York State Department of Labor Peter M. Rivera were in attendance.
Following two years …
The bottom of Manhattan is currently at the top in terms of retail growth, according to reports this week.
According to Cushman and Wakefield, Lower Manhattan saw a 37.8 percent climb in asking rents for retail spaces from this time last year. While Downtown was not the only sector to see an increase in pricing, it finished comfortably ahead of the other top districts, including Times Square (13.8 percent rise), Madison Avenue (12.4 percent rise), Flatiron (10.7 percent rise).
“Asking rents were on the rise in eight of ten Manhattan neighborhoods, with Lower Manhattan leading the pack,” said Cushman & Wakefield vice chairman Joanne Podell. “We expect Downtown to keep attracting retail as office employment rises.
Ariel Property Advisors has announced the sale of the leasehold at 840 Westchester Avenue, a newly constructed commercial building in the Morrisania section of the Bronx, for $18.4 million.
The sales team of Victor Sozio, Scot Hirschfield, Jason M. Gold, and Shimon Shkury represented the seller, an affiliate of Columbus Pacific Properties, a national real estate investment firm based in California, and procured the buyer, a local investor seeking a 1031 exchange opportunity.
“This property illustrates the strength of the retail market in the Bronx and the cash flow that can be …
RKF has arranged a 1,900-square-foot lease with high-end bedding retailer Duxiana at 9 West 20th Street in the Flatiron District. Located on the north block between Fifth and Sixth Avenues, this will become Swedish-based Duxiana’s third Manhattan location, and marks the brand’s return to the Flatiron District after a previous relocation.
RKF Executive Vice President Gary Alterman, Senior Director Ross Berkowitz and Associate Brandon Berger represented the owner, Jumi W. 20 LLC, in the transaction, while Ryan Gessin of Newmark Grubb Knight Frank represented Duxiana.
“We specifically targeted home furnishings brands for …
Eastern Consolidated has arranged a long-term, 5,100-square-foot lease for Hudson Market, a new gourmet food market concept by Terence Park at 303 Tenth Avenue in West Chelsea.
The market’s ground-floor retail space is complemented by 800 additional square feet on the basement level and located at the base of a new 89-unit, luxury residential rental building known as Port 10, which is just south of Hudson Yards, adjacent to the 28th Street entrance for The High Line, and faces Chelsea Park.
Opening this fall, Hudson Market is Park’s sixth culinary venture to …
Construction & Design, Featured, Retail »
Seattle-based Nordstrom, Inc. announced today plans to open a Nordstrom Rack at the Empire Outlets in Staten Island, N.Y. The approximately 34,000-square-foot store is scheduled to open in fall 2016. The property is being developed byBFC Partners.
The newly built, two-level Rack will be a part of roughly 100 retailers going into the one-million-square-foot waterfront development within the St. George neighborhood of Staten Island.
Brookfield Property Partners announced that it has executed seven leases for its 40,000 s/f retail area at One New York Plaza.
The 2.6-million-square-foot office building located on the southeastern tip of Manhattan is undergoing a $14 million redevelopment to its retail concourse, located in the two lower levels, which will include five quick-casual eateries, a health club and service retail. The project is scheduled for completion by the beginning of 2015.
Voda Bauer Real Estate announced that the firm has signed an exclusive agreement with Westville Group to help the company find its fifth restaurant location and purchase a building to construct its commissary.
Westville is seeking the commissary in Brooklyn or Manhattan and also looking for a 2,000 to 5,000 s/f restaurant with heavy traffic, high visibility and close proximity to public transportation.
Westville opened its first location at 210 West 10th Street in 2003, and then expanded to the East Village, helsea and Hudson Square.
Kalmon Dolgin Affiliates (KDA) has arranged a 2,000 s/f lease expansion for Buy It Here Now, a retail store, at 4916 Avenue K in the Flatlands section of Brooklyn, NY.
Jeffrey Unger arranged the lease on behalf of the owner, 4916-4924 Ave K Realty, and the tenant, Buy It Here Now. The tenant is expanding to 4916 Avenue K from its former location, where they occupied approximately 500 s/f.
Buy It Here Now joins several existing retail tenants at the Avenue K shopping strip, including Dunkin’ Donuts, a Chinese restaurant, health food …
RKF has been retained as exclusive leasing agent for a 2,740 s/f retail space at 47 Seventh Avenue South, aka 13 Morton Street, in the West Village.
Situated at the northeast corner of Morton Street, 47 Seventh Avenue South consists of 2,000 s/f on the ground foor and 740 s/f in the basement.
The space currently occupied by Japanese restaurant Soy and Sake, is fully vented and fixtured, and features 70 feet of wraparound frontage and a 52-seat enclosed sidewalk café.
RKF executive vice president Ariel Schuster and associate Ernie Getz are actively …