Real Estate Weekly
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Retail in brief: Fine & Rare coming to Midtown, Fortina opening Downtown Brooklyn location

ABS Partners

A rare move in Midtown

Fine & Rare, a new restaurant concept from Tommy Tardie, the creator of The Flatiron Room, signed a long-term lease for 5,702 s/f at 9 East 37th Street.

Fine & Rare is slated to open the second quarter of 2016 and will serve fine food and rare spirits.

Mark Tergesen and Dean Valentino of ABS Partners Real Estate represented the landlord, 9 East 37th Street Associates, in the transaction, while Dan Breiman of Olmstead Properties represented the tenant.

Asking rent was $81 per square foot on the ground floor.

Acadia Realty / Washington Square

Chef Petroni to serve up new City Point concept

Acadia Realty Trust and Washington Square Partners, co-developers of City Point, announced that Fortina, the brainchild of chef Christian Petroni, has signed a 15-year, 4,612-s/f lease to bring “straight forward Italian food” to the 1.8 million-square-foot destination in Downtown Brooklyn.

Slated to open in the Fall of 2016, Fortina will be housed alongside DeKalb Market Hall.

Fortina, with locations in Rye and Armonk, New York and Stamford, Connecticut, was inspired by Petroni’s childhood visits to Arthur Avenue as well as his trips to Italy and Spain.

Petroni, a Bronx native, is a member of the James Beard Foundation and a frequent guest cook at the James Beard House

Fortina will be located within the 60,000 s/f  concourse-level space that will also house DeKalb Market Hall (30,000 s/f) and Trader Joe’s (18,000s/f ).

Laurence Roberts, principal of Arch Brokerage, a boutique real estate firm and affiliate of Washington Square Partners represented Fortina; the landlord, Albee Development, was not represented.

BFC Partners

DE Commercial tapped to fill outlet’s restaurant space

Douglas Elliman Commercial has been selected as the exclusive retail leasing agent for the food and beverage component at Empire Outlets.

With 50,000 s/f of food and beverage space, Michael Brais of Douglas Elliman Commercial is bringing the opportunity to market on behalf of the developer, Brooklyn-based BFC Partners.

Douglas Elliman Commercial is aiming to cultivate a mix of the hottest names in the New York City culinary scene to the development.

Brais has already arranged a partnership between BFC and the creative team behind Gansevoort Market to create the Marketplace at Empire Outlets (MRKTPL), a one-of-a-kind culinary experience that will become the borough’s first artisanal food market.

Brais said: “Bringing Gansevoort Market to Staten Island is a game-changer for the borough. We want to create a compelling range experience with each concept we bring to this project a destination in its own right.”

BFC Partners

Jeweler to open Empire store

BFC Partners, the developer of Empire Outlets, announced that diamond and jewelry exchange Jewelers on Fifth will open a new location at the retail outlet complex.

When it officially opens in 2017, this will become Staten Island’s largest jewelry exchange.

The new 3,817 s/f store will be among 100 retailers going into the one million-square-foot development within the St. George neighborhood on Staten Island’s North Shore waterfront.

James Prendamano, managing director for Casandra Properties, leasing agent for Empire Outlets, commented, “Staten Island has the highest median family income in New York City and we generate $1.2 billion annually in unmet retail demand.  As a borough we spend $61 million annually on jewelry and watch purchases.  International visitor spending on jewelry incrClearly there is a healthy market for jewelry amongst residents and visitors. ”


Sandwicherie set to open

Peter Braus and JP Sutro, of Lee & Associates NYC, have arranged a 15-year lease for Sandwicherie of New York at 78 West 3rd Street in Greenwich Village.

Brad Schwarz of Lee & Associates NYC represented the tenant.

Formerly occupied by the West 3rd Street Deli and a laundromat, the space has been completely redeveloped with 1,800 s/f on the ground floor and 1,800 s/f below grade, excavated as a selling level.

It is located in the heart of NYU’s Washington Square Park campus, which additionally attracts an estimated 16 million visitors annually.

“This is a highly desirable corner space in one of the city’s most sought-after neighborhoods,” said Sutro, who represented the owner, CEJ Properties, with Braus. “The owner is especially pleased to welcome an exciting and successful tenant to an already bustling corridor.”

“Sandwicherie of New York cultivated a devoted following of office workers, commuters, and tourists in its original Midtown location,” added Schwarz. “As it expands downtown, the tenant is eager to serve a new customer base.”

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