Real Estate Weekly
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Winick seeks star to light up retail corner

Winick Realty Group announced the availability of a marquee retail branding opportunity in Times Square.

570 7th Avenue

CEO Jeff Winick, executive vice president Darrell Rubens and broker Lee Block are marketing up to 20,000 s/f of multi-level retail at 570 Seventh Avenue on behalf of owners Capstone Equities and The Carlyle Group.

The retail comprises 4,950 s/f on the ground floor, 6,100 s/f on the second floor, 6,100 s/f on the third floor, and 3,600 s/f in the basement.

As current tenants’ leases come to term, ownership plans to remodel and rebrand the entire building and install a new glass façade.

According to Rubens, proposed billboards, which include a digital blade sign running up the full length of the building, will be visible from as far north as 47th Street and Broadway, as far south as Penn Station and Macy’s on 34th Street, as far east as Bryant Park and as far west as the Port Authority.

“When coming north from Penn Station and 34th Street, this is the first building with LEDs that you see, marking the entrance to Times Square,” said Rubens. “The LEDs will serve as a beacon, drawing people from Madison Square Garden, the Port Authority, Macy’s and more to this location.”

The LED signage will also light up nearby Boulevard 41, drawing customers from the new pedestrian plaza on West 41st Street between Sixth Avenue and Broadway, as well as the adjacent Times Square subway entrance.

“We are looking for the right retailer to take advantage of this spectacular corner and amazing signage opportunity,” added Block, “as well as a retailer who understands the value of controlling this prized LED signage and turning it into an effective profit center for the brand.”

The H&M Flagship on 42nd Street and Broadway and the new Express set to open on the corner of 46th Street and Broadway are currently operating new digital signage.

Winick is working with ownership at 570 Seventh Avenue to configure what will become one of the largest digital retail signage packages in Times Square — up to 8,000 s/f of LED lighting.

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