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Deals & Dealmakers

Retail: Allouche Gallery signs lease at 86 Gansevoort, French cookie maker Michel et Augustin in Brooklyn

TF Cornerstone

Gallery joins new retail landscape

TF Cornerstone (TFC) has signed a long-term, 5,125 s/flease with Allouche Gallery, one of New York’s premiere art galleries, for gallery space at 86 Gansevoort Street.

The high end art gallery, which features projects by museum-level contemporary artists, will relocate from temporary showroom space on 26th Street to the ground floor of 86 Gansevoort Street – a mixed-use residential property, also known as 95 Horatio Street – pending build out of the space.

Allouche Gallery previously occupied ground floor retail space at 115 Spring Street in SoHo.

“Allouche Gallery is an ideal addition to our Gansevoort Street property and this neighborhood,” said Steve N. Gonzalez, director of retail leasing for TF Cornerstone.

“Allouche’s long-term commitment at 86 Gansevoort Street will benefit the flourishing community here and serve art enthusiasts throughout New York City and beyond.”

Karen Bellantoni and Tess Jacoby, of RKF, represented TF Cornerstone in the new lease transaction. Dan Harroch, of Thor Retail Advisors, represented the tenant.

“The gallery owners were attracted to 90 Gansevoort’s proximity to the Whitney Museum of American Art, as well as the High Line and such neighborhood standouts as The Standard, Catch and Santina,” said Harroch.

“The relocation of the Whitney Museum to the Meatpacking District was a significant turning point for the market’s retail landscape,” said Bellantoni.

“This is a really unique location with some of the highest visibility in the District today due to the overwhelming success of the Whitney. We were seeking a special tenant that would continue to evolve the Gansevoort Street corridor and add to the live/work/play environment of the District. We’re certain that Allouche will be a great addition to the market.”

Bertwood Realty

Cookie cutter Brooklyn deal

Bertwood Realty announced the signing of a 1,500 s/f lease for the French cookie maker, Michel et Augustin at 98 4th Street in Brooklyn.

Michel et Augustin entered the U.S. market with a splash, landing Starbucks as a client earlier this year.

With over 400 wholesale accounts now in the country, Michel et Augustin looks poised to become a major player in the cookie sector.

Bertand de Soultrait, president of Bertwood Realty, first spotted the baker himself during a visit to France.

“They have a great reputation for quality and great taste, plus their playful approach to marketing is infectious,” said de Soultrait.

The space in Brooklyn will be used as a base to co-ordinate wholesale sales and marketing.

The landlord,  Bond MM, LLC, was represented by James Stubbs and Jimmy Armstrong, from Brooklyn Bridge Realty.

Bertand de Soultrait and Abe Bichoupan represented Michel et Augustin.

Eastern Consolidated

Gwynnie salon opens third NYC location

Eastern Consolidated’s retail leasing division has arranged a 10-year, 550 s/f lease on the ground floor of 142 East 49th Street for Blo Blow Dry Bar, an international franchise in which Academy Award-winning actress Gwyneth Paltrow is a creative partner.

James Famularo, senior director of the retail leasing division for Eastern Consolidated, represented the landlord and Cosmo Montemurro, managing principal of Murro Realty, represented Blo Blow Dry Bar in the transaction.

“We had many requests for the space from juice and coffee bars, but since the site was restricted to dry use only, these businesses were unacceptable,” Famularo said.

“With Blo Blow Dry Bar, we found the perfect tenant for the building and an ideal space for the franchisee. ”

Because the company features a low-cost, turnkey franchise system, the space at 142 East 49th Street can be renovated quickly, Famularo said.

Other Blo Blow Dry Bar sites in New York City are located at 800 6th avenue in Chelsea, and 325 East 64th Street and 260 East 72nd Street on the Upper East Side.

Blo Blow Dry Bar was founded in 2008 by Canadian entrepreneur Ari Yakobson and his wife, co-owner Yanessa Melman Yakobson.

In June 2014, Paltrow announced that she and her longtime hairdresser, David Babaii, would be partnering with the franchise to offer creative advice.

With 60+ locations in the U.S., Canada, the UK, and Philippines, Blo Blow Dry Bar offers a wash and blow dry from seven signature styles in the Blo Look Book for around $40.

Lee & Associates

Chain stakes claim in Brooklyn

Philly cheesesteaks stronghold, Shortyʼs is coming to Brooklyn.

Adam Malitz, associate of Lee & Associates NYC LLC has arranged a lease for the restaurant’s first Brooklyn location at 229 Flatbush Avenue, between Bergen and Dean Streets in Park Slope.

Known as New York City’s go-to spot for authentic Philly cheesesteaks, the restaurant will take a 1,048 s/f space up the street from Barclays Center.

Parm has signed a lease down the street, and other neighboring businesses include Patsy’s, Shake Shack, and Doughnut Plant.

“Between the central location and strong sense of community, this is the perfect place for Shorty’s to make its Brooklyn debut,” said Malitz, who represented Pintchik Associates Ltd., the owner, and the tenant.

The tenant has taken possession and plans to open in the winter of 2016. It will be Shorty’s fifth New York City location.

RKF / Isaacs and Company

Luxury shoe retailer opens first stand-alone store

RKF and Isaacs and Company arranged a new lease for Aquazzura at 935 Madison Avenue on the Upper East Side.

This will be the luxury shoe retailer’s first standalone location in the United States.

RKF vice chairman Ariel Schuster, managing director Jackie Totolo and associate Brandon Elias, along with Isaacs and Company president Joel Isaacs and Joshua Lewin, arranged the transaction on behalf of the landlord, JZS Madison, LLC. Marc Simon of Isaacs and Company represented Aquazzura.

Aquazzura will occupy 2,221 s/f of retail space, with 1,144 s/f on the ground floor and 1,077 s/f in the lower level. The space features 17 feet of frontage on Madison Avenue, with the building’s original 1876 façade, as well as 18 and 10 ft. ceilings.

Aquazzura will sit at the base of the former Whitney Townhouses, brownstones that have been completely redeveloped into luxury boutique condominiums, and directly next door to the new The Met Breuer.

Aquazzura will join French leather goods retailer Moynat, who recently announced its opening and will occupy the adjacent space. “We’re thrilled that Aquazzura selected 935 Madison Avenue, as it’s the perfect statement location for the brand’s first U.S. store,” said Schuster.

“Aquazzura will complement other luxury retailers in the area and contribute to the high-end co-tenancy we’re seeking for these prime spaces on Madison Avenue.”

RKF and Isaacs and Company continue to market an additional 9,123 s/f of ground floor and lower level retail space at 935 Madison Avenue.

New Street Realty Advisors

Bank renews on Lenox

New Street Realty Advisors announced that Wells Fargo Bank, N.A. has entered in a new, long-term lease for its existing 3,000 s/f branch at 143 Lenox Avenue, in the mixed-use development known as Lenox Gardens.

Matthew Gorman, managing partner at New Street Realty Advisors, represented the landlord, The Bluestone Organization. Annette Healey, executive vice president at CBRE, represented the tenant.

Savills Studley

A captive audience

Travel Money USA, a currency exchange company owned by Australian-based Flight Centre Travel Group Ltd., has signed a long term lease for 600 s/f at 1691 Broadway.

The retail space is located on the Northwest corner of Broadway at 53rd Street, adjacent from the Ed Sullivan Theatre, home to The Late Show with Stephen Colbert.

Travel Money targeted northern Times Square to reach its audience of tourists and international visitors.

“Based on the high foot traffic and great tourism, Times Square makes perfect sense for Travel Money. Travel Money was able to take advantage of unique, highly-visible marquee signage directly on Broadway,” said Savills Studley senior managing director Jeff Lagowitz, who represented Travel Money in the transaction.

Michael Kadosh of CBRE represented the landlord, Broadway SKY LLC.

New Street Realty

West Side bread alert

New Street Realty Advisors announced that La Panineria, an Italian paninni bar, will open its second New York City location at 410 West 36th Street.

Managing partners Matthew Gorman and Joshua Gettler represented owners, 410 West 36th Street Residences, LLC, and the tenant.

La Panineria will take occupancy immediately and plans to start serving its’ customers in time for the holiday season.

La Panineria, with one popular location at 1 West 8th Street in Greenwich Village, was eager to enter the dense Midtown West neighborhood as the site sits just one block from both The Jacob K. Javitz Convention Center as well as Hudson Yards development.

Houlihan-Parnes Realtors

Bank takes Radio Shack space

Houlihan-Parnes Realtors represented The Westchester Bank in a 10 year lease for a 2,050 s/f storefront bank branch space at 301-305 Mamaroneck Avenue, Mamaroneck.

Jamie Schwartz represented the tenant. John Manous of Houlihan-Parnes Realtors represented the owner The space was formally a Radio Shack that had occupied the storefront for over 25 years.

According to Schwartz, “The space was not on the market at the time of our search, and we were able to negotiate a deal for the space prior to Radio Shack rejecting the lease in its bankruptcy proceeding and vacating the space. It’s one of the prime storefront locations on Mamaroneck Avenue in the central business district, near many other national and regional banks.”

Norm DiChiara AIA of Norman DiChiara Architects, P.C. designed the branch.

Rose Associates

Kids store takes Shack racks

Ibiza Kidz, a children’s shop for shoes, clothing and toys located in Union Square, has expanded to open a second location in Stuyvesant Town.

The new store, is owned by Stuy Town resident Carole and Johnny Husiak.

Rose Associates negotiated the long-term 1,800 s/f lease at 340 First Avenue, between 19th and 20th Streets. The space was most recently home to a RadioShack.

Bruce Spiegel of Rose Associates represented the tenant and owner on the deal, He said CompassRock, the managing agent for Stuy Town, had been seeking out a family-oriented business. He reached out to Ibiza Kidz, knowing the company’s background.

“We thought they would be a great tenant to add to the mix there,” Spiegel said. “I’m sure they’re going to be very successful.”

Levin Management

Levin adds alehouse to shopping center mix

American restaurant and sports bar, Blu Alehouse, will open its second New Jersey location at St. Georges Crossing in Woodbridge, N.J.

The new restaurant and the recent grand opening of a 23,000 s/f T.J.Maxx store enhance the tenant mix at the fully leased, 340,000 s/f Middlesex County shopping center, according to Levin Management, the property’s exclusive leasing and managing agent.

Blu Alehouse, which opened its original location in Riverdale last year, will occupy the 12,300 s/f space that formerly housed Shannon Rose Irish Pub.

Robert Carson, Levin’s executive vice president, said the tenant intends to renovate both the exterior façade and interior spaces to create a contemporary look.

JP Associates

Cinema to anchor mall

Regal Entertainment Group is set to open a state-of-the-art 12-screen digital movie theater at Independence Plaza in Hamilton NJ.

IP Associates, LLC , the property’s new owners, said the lease caps an eight month leasing campaign that netted 115,000 ss/f of new leases for the redeveloped shopping center.

Other new tenants scheduled to open this winter include Ollie’s Bargain Outlet (35,000 s/f), Save-A-Lot Supermarket (16,000 s/f) and Crunch Fitness (22,000 s/f).

IP Associates, a partnership between JJ Operating Inc. and Houlihan Parnes, acquired the property late last year through a foreclosure sale. They  plan to spend $5 million to reinvigorate the shopping center,.

“We’re excited to announce the signing of a premier anchor tenant in Regal Entertainment Group” said Joseph J. Jemal of JJ Operating Inc.

Regal Cinemas was represented in the transaction by William Farkas of Jeffrey Realty Group.

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