Articles in the Retail Category
Finance & Accounting, Retail »
HKS Capital Partners has brought in Oritani Bank to provide a $30 million loan for Oakley’s New York flagship store at 560 Fifth Avenue in Times Square.
Jerry Swartz and Michael Lee of HKS Capital Partners brokered the deal.
The loan was made to an affiliate of the Riese Organization that replaces existing debt from New York Community Bank and provides additional funding for the property, according to Lee.
The five-year deal, comes with a five-year extension option and a 30-year amortization schedule. The loan carries an interest rate below four percent.
“This speaks …
Cushman & Wakefield has been appointed by the owners of one of Paris’ most recognizable retail landmarks to find a new tenant.
The 30,000 s/f property – jointly owned by U.S.-based Thor Equities and Ares Management – at 51 Boulevard Haussmann is set within the heart of the French capital’s ninth arrondissement; one of the busiest shopping districts in the city.
Built in 1866 and renovated in the early 2000s, the building is currently the Paris flagship of Benetton. Controlling an entire block with frontage along Boulevard Haussmann, the address is also anchored …
Eastern Consolidated has been retained as the exclusive retail leasing agent for Proper Puss, a waxing salon based in Ithaca, NY, which is beginning its expansion throughout the New York City metro area.
The waxing salon – which provides waxing, eyelash, lip, and brow treatments for both men and women – is looking to add new locations in Manhattan, particularly to the Upper West Side, Upper East Side, West Village, East Village, and Chelsea.
“This waxing salon has flourished in Ithaca and we look forward to finding multiple, ideal locations for the …
New legislation could curb a trend of mom-and-pop businesses being replaced by banks and chain stores.
Manhattan Borough President Gale Brewer said she’s drafting legislation that would make it mandatory for a building’s owner to at least allow a retail tenant a chance to negotiate to keep his or her space.
“The future of street level retail stores and restaurants… has begun to look murky,” Brewer said. “Every day, the press has another story about a kids’ clothing store or a shoe repair shop closing to make room for a chain or a bank.”
Deals & Dealmakers, Retail »
Lee & Associates NYC has been tapped to market a new commercial development at 34-30 Steinway Street in Astoria
Managing director Garry Steinberg, director Jaime Schultz, director Stephen May, and associate Adam Malitz are marketing the multi-level, 100,000 s/f commercial development located between 34th and 35th Avenues in Astoria.
The retail and office property will feature 29,400 s/f on the first floor, 26,100 s/f on the second floor, 24,100 s/f on the third floor and a 20,000 s/f lower level that includes 225 parking places and 6,000 s/f of retail storage.
In addition …
The Durst Organization announced that Sushi Zen, Inc. has a signed a 20 year lease for 6,508 s/f of retail space at 114 West 47th Street. Sushi Zen is moving from their current location, 1133 Avenue of the Americas, which is also a Durst property.
“Sushi Zen has been our tenant since 2001 and, we are delighted to see them grow within the Durst portfolio,” said Jonathan (Jody) Durst, President of The Durst Organization.
The Durst Organization was represented in-house by Director of Leasing Tom Bow and Senior Leasing Manager Rocco Romeo. The …
RKF, the exclusive retail leasing agent for Hudson Lights, is marketing the remaining spaces in Phase I of the mixed-use development in Fort Lee, NJ.
The 141,244-square-foot retail component of the forthcoming one-million-square-foot project is now over 60 percent leased, with approximately 55,000 square feet of prime retail space available for direct lease before the grand opening in the fourth quarter of 2015.
RKF’s Executive Vice President Barry Fishbach, Senior Managing Director Glenn Beyer and Managing Director Jerry Rockoff are exclusively marketing the spaces on behalf of project developer Tucker Development.
According to Fishbach, the …
Faith Hope Consolo, Chairman and Joseph Aquino, Executive Vice President of Douglas Elliman’s Retail Group have been named exclusive agents for 114 East 57th Street, a large, 3,250-square-foot ground level space with basement and 35 feet of frontage on one of Manhattan’s most luxurious blocks, between Park and Lexington Avenues.
“East 57th Street is where vaunted brands shine even brighter,” says Consolo. “We have arranged countless leases on this street by focusing on businesses that bring something distinctive to this exclusive shopping district.”
Adds Aquino, “This is a street of dreams where …
JP Sutro, director of Lee & Associates NYC has arranged a 15-year lease for Bareburger at 251 East 52nd Street, located on the northwest corner of Second Avenue.
The rapidly growing organic burger chain signed a lease for 5,000 square feet in the space formerly occupied by Opal Bar & Restaurant, which closed in July of 2014. It will become the largest unit of the restaurant group’s 30 locations throughout the United States and in Canada.
“This is the latest example of Bareburger’s tradition of operating in New York’s most desirable neighborhoods,” …
Deals & Dealmakers, Retail »
Fosun Property Holdings has submitted a plan to the Landmarks Preservation Commission to restore and invigorate the plaza and retail components of the historic 28 Liberty tower in Lower Manhattan.
The project is part of an overall repositioning campaign for the 60-story, 2.2 million-square-foot class-A office tower that seeks to restore the iconic property’s position in Lower Manhattan while further connecting it to residents and workers in the neighborhood.
The proposed project will enhance the building’s retail component by providing access to street-level retail. It will replace a portion of the existing …