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Deals & Dealmakers

Retail leasing: V-Burger opens in Greenwich Village, Harlem Shake’s second NYC space

Veggies squeeze into Village space

Eastern Consolidated has arranged a 10-year, 900 s/f lease at 815 Broadway in Greenwich Village for V-Burger, a new vegetarian restaurant opening its first site in New York City.

Retail leasing brokers James Famularo, Ravi Idnani and Ryan Reszelbach represented both sides of the deal.

V-Burger will be a co-tenant with Hummus and Pita, which will continue to operate in its current 1,600 s/f space at 815 Broadway and share some of the kitchen area with V-Burger.

A juice bar previously occupied the space that V-Burger will be leasing.

“Hummus and Pita is looking forward to sharing space with another healthy food provider that will complement its menu,” Idnani said.

“At the same time, V-Burger will enjoy a prime location in the heart of Greenwich Village, just blocks from Union Square.”

 

Shaking things up in Harlem

ABS Partners announced that Harlem Shake, the retro-inspired burger joint, has leased it’s second New York City space at 2162 Second Avenue in East Harlem.

Photo by Agnes Gautier/ Flickr
Photo by Agnes Gautier/ Flickr

Harlem Shake signed a 15-year, 2,450 s/f lease on the corner of Second Avenue and East 111th Street. Mark Tergesen and Robert Kempner of ABS represented the landlord, an LLC led by Shai Shustik.

Francesco Bardazzi of PD Properties represented the tenant.

Harlem Shake opened its location in 2013 on 124th Street and Lenox Avenue, just ahead of a video of the same name went viral, giving the comfort food restaurant a massive publicity boost.


Bagel fave branching out

RKF arranged a new lease on behalf of H&H Midtown Bagels East on New York’s Upper West Side, marking the bagel shop’s entry to this market.

Vice president Brandon Eisenman represented the tenant, while Michael Azarian and David Chkheidze of Cushman & Wakefield represented the landlord, 85th Columbus Corporation, in the transaction.

The inline space, located on the west block between West 85th and 86th Streets, will total 3,200 s/f with 1,750 s/f on the ground floor and 1,500 s/f in the basement.

Neighboring tenants include Good Enough to Eat, Joe, Osteria Cotta and Kefi. The new store is expected to open this winter.

H&H Midtown Bagels East has operated a location on the Upper East Side, at 1551 Second Avenue, for over 40 years, and is now expanding due to popular demand from area residents.

Eisenman commented, “There has been a void in this market for a bagel shop with the legacy of H&H. This was an ideal neighborhood for the brand with its dense residential population and strong co-tenancy with other food purveyors.”


Bank takes Tower 57 space

HSBC Bank has leased 2,557 s/f on the ground floor at Charles S. Cohen’s Tower 57 at 135 East 57th Street.

The full-service bank branch, which is expected to open during the fourth quarter of this year, will feature wraparound frontage on both East 57th Street and the fountained public plaza in front of the 31-story, 390,000 s/f office tower.

“Our building’s fantastic location, situated along the strengthening 57th Street corridor, made this an attractive location for the new bank branch,” Cohen stated.

“We are looking forward to making some additional exciting announcements for the remainder of this building’s retail space in the near future.”

Marc Horowitz, senior vice president and national director of Office Leasing at Cohen Brothers Realty Corp., along with a Cushman & Wakefield team of vice chairman C. Bradley Mendelson and executive vice president Alan Schmerzler, represented the building owner in the 10-year leasing transaction.

Craig Slosberg of Jones Lang LaSalle represented HSBC. Asking rents were $500 per square foot.

Mendelson and his team are marketing the remaining 69,000 s/f of multilevel retail space with an eye towards large-format fashion retailers, a number of which are actively scouting for Manhattan locations.


Downtown Juice Generation

Juice Generation has opened its new Downtown flagship store at TF Cornerstone’s 101 Maiden Lane in the Financial District.

The popular juice and smoothie bar chain leased over 1,500 s/f of retail space on the ground floor of one of TF Cornerstone’s two luxury residential buildings, which are jointly known as 2 Gold Street.

Founded in 1999 by CEO Eric Helms, Juice Generation has been serving New Yorkers fresh, raw juices for more than 15 years.

The juice bar started as a small shop in Hell’s Kitchen and has since expanded its operations across Manhattan, with 101 Maiden Lane becoming its 15th location.

“Juice Generation is the perfect addition to this bustling neighborhood that is currently experiencing a strong demand for healthy dining options,” said Steve Gonzalez, director of retail leasing at TF Cornerstone, noting that SoulCycle opened on the second floor of 101 Maiden Lane last fall.


BKLYN juice spot

CPEX New York Retail Leasing Team announced that BKLYN Juice Company has leased a retail space at 75A 5th Avenue in Park Slope.

75A 5th Avenue is a mixed-use building featuring 650 s/f of ground floor retail space, with an additional 600 s/f  of below-grade space and 450 s/f of backyard space.

BKLYN Juice is taking over the location from a local children’s clothing store that is relocating to 4th Avenue.

CPEX’s Retail Leasing Team, consisting of Ryan Condren, George Danut and Keat Chew, represented the landlord in the lease transaction. Cushman & Wakefield represented BKLYN Juice Company LLC.

Said Condren, “We believe that BKLYN Juice will be a great amenity for the residents of Park Slope looking for healthy, organic options.”


M&M’s pop up

The popular M&M’s candy store has popped up at 434 Broadway in Soho.

Designed to take advantage of the busy summer tourist season and the popular lower Manhattan retail district, the store is located in a 4,500 s/f former bank space in a historical building that dates back to 1910.

The store will feature many of the same fixtures and merchandise fans can find at M&M’S World in Times Square.

There is an old-fashioned walk-in vault, which is used as a special merchandising area, a Candy Wall with 22 colors of M&M’s and a variety of apparel and home goods.

M&M’s World deployed street teams to distribute coupons throughout the SoHo area to drive awareness and visits to the store, and guests who follow M&M’S World on Instagram receive a special discount at check-out.

Vanessa Palka and Dr. Richard Hittman of City Connections Realty represented Mars Retail Group in the M&M’s pop-up. Andrew Kahn, Jonathan Scibilia and Jesse Hutcher of Cushman and Wakefield represented the owner, 434 Property Investors c/o Savanna.


Shabtai counts square feet for currency specialists

TOWN Residential’s Lori Shabtai has signed a 10-year retail lease with payment and risk management solutions specialist, AFEX, at the transformed Park Central Hotel at 870 Seventh Avenue.

The new boutique-style 1,020 s/f space will be AFEX’s first Manhattan retail location.

Headquartered in California with offices throughout the Americas, EMEA and Asia Pacific, AFEX trades more than $15 billion in foreign exchange every year,.

“After visiting AFEX’s Beverly Hills flagship location, on North Beverly Drive next to Tiffany’s and just steps from Rodeo Drive, it was clear that they needed a Manhattan presence of equal significance,” said Shabtai.

LaSalle Investment Properties completed a $35 million renovation at the hotel, which originally opened in 1927.

CBRE team of Sean Moran, David LaPierre, and Cassie Durand represented the owners in the AFEX lease.


Restaurant group adds Harlem to menu

Faith Hope Consolo and Arthur Maglio of Douglas Elliman’s Retail Group have arranged a lease at 3141 Broadway for Shanghai Yang.

Offering Asian-fusion cuisine, it is the latest brand from the hospitality group responsible for more than 20 popular New York restaurants, including Friedman’s, Wei West, Community, Pick-A-Bagel and Lilli & Loo.

Shanghai Yang will be close to Columbia University’s main campus in Morningside Heights, its new campus in Manhattanville, currently under construction, and a major transportation hub.

“Harlem is becoming the center of the culinary world,” said Consolo. “It is not surprising that a highly successful restaurant group would find this centrally-located space so quickly.”

Consolo and Maglio represented the landlord 3139 Broadway Investors, LLC. The tenant was represented by Square Foot Realty.


Gentleman’s club turns over new leaf

A one-time Gentleman’s Club in Queens has been converted to a Dollar Tree.

Long Island based Jacobs Real Estate Advisors acquired the property at 248-50 Rockaway Blvd in Queens in 2012 and recently completed the development of the Dollar Tree at the club Site.

Sholom Jacobs, principal of Jacobs Real Estate Advisors, said, “We are constantly looking for ways to give back to the community and are privileged to have been involved with this development.”

Jacobs Real Estate Advisors signed a 10-year lease with Dollar Tree on the site.


Snowdays expected to blanket New York

Eastern Consolidated has arranged a five-year, 500 s/f lease at 167 Seventh Avenue South in the West Village for Snowdays, a shaved cream dessert shop that made its New York City debut last fall in the East Village.

Joe Robinson, Senior Director of Retail Leasing at Eastern, and Alex Karas, Director, represented Snowdays’ owner Tony Quach in the transaction.

Robinson previously arranged the lease for Snowdays’ first site at 241 East 10th Street.

“Based on traditional Taiwanese and Korean shaved ices, Snowdays combines the fluffy texture of snow with the flavor and creaminess of ice cream,” Robinson said.

“After discovering the treat on the West Coast, the owner decided to introduce the concept to New Yorkers. Through social media and word of mouth, he has already created a local fan base.”

Robinson is now working with Quach to find additional sites in Brooklyn, the Upper West Side, and Financial District.

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