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Deals & Dealmakers

Feil Organizaion buys Whitestone, NY shopping center

The Feil Organization, a private, commercial real estate firm headquartered in New York City, recently purchased the shopping center at 154th Street and 10th Avenue in Whitestone, NY.

With plans in place for a state-of-the-art upgrade, the company has just signed a lease agreement with the full-service grocery store, North Shore Farms, as well as with CVS Pharmacy.

North Shore Farms will occupy 23,818 s/f of the space formerly occupied by Waldbaum’s, while CVS Pharmacy will occupy 12,000 s/f.

Four additional spaces of 1,380 up to 4,350 s/f  are available for lease, according to the Director of Leasing at The Feil Organization, Nicholas Forelli.

“We are proud to serve the community of Whitestone and bring quality services and products that will fulfill the needs of local residents,” Forelli said.

“Our goal is to revitalize, maintain and operate a viable shopping center that will enhance the community and local economy, making Whitestone residents proud. The demographics of the area and the high quality operators at North Shore Farms made for a nice match.

“CVS has been seeking locations in the area for quite some time, and the ability for this location to accommodate their drive thru prototype brings a level of convenience to the shopper that CVS could not achieve in other locations.”

George Tsiatis, a spokesperson for North Shore Farms, said, “This is our first store in Queens, and we’re extremely humbled by the encouragement of the community.  We look forward to serving them and being an active participant in the neighborhood!”

Upgrades to the complex will include re-furbishing exteriors and interiors, new windows, brickwork and stonework, new insulation systems and restoration of the parking lot.

The first stages of construction began in September. The new supermarket is slated to open in the summer of 2017.

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