Real Estate Weekly
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Winick shopping high profile Durst, Cornerstone retail

Winick Realty Group landed two prime retail assignments this week.

205 East 42nd Street

The Durst Organization has hired the executive team of Steven E. Baker, president, and Kenneth Hochhauser to market a prime 42nd Street sitre.

And TF Cornerstone tapped the firm to market a brand-new storefront at 387 Park Avenue South.

The retail at Durst’s 205 East 42nd Street, between Third and Second Avenues, consists of 5,636 s/f on the ground floor and 2,069 s/f on the lower level.

It will have a new storefront installed, complete with a new window on the western side. The store offers 60 feet of 42nd Street frontage, as well as 20 ft. ceilings.

“We are proud to represent a truly remarkable retail space in the heart of Manhattan’s business district,” said Baker.  “This availability is the ideal opportunity for a restaurant or retailer to attract not only the many office workers in the area, but also the dense population of residents, tourists and commuters from Grand Central Station, which is located only blocks away.”

Brandl Frey, leasing manager at The Durst Organization, said, “We have just finished a two-year repositioning of 205 as a center for non-for-profit and government users and are excited by the opportunity to find a high-quality retail user to complement our distinguished tenant roster.”

387 Park Avenue South

The retail at 387 Park Avenue South is part of TF Cornerstone’s multi-million dollar renovation of the entire 200,000 s/f office building, which includes a new three-story façade, new lobbies, new elevators, upgraded mechanicals throughout, and a glass penthouse and roof deck. Construction is currently underway.

Located on the northeast corner of East 27th Street, the 12,000 retail space is well-suited for a retail flagship with 200 feet of frontage along Park Avenue South and East 27th Street, according to Baker, who is marketing the site with broker Aaron S. Fishbein.

“The area where Madison Square meets NoMad is exhibiting dynamic growth from new restaurants, new trendy hotels and the two luxury residential towers currently under construction across the street,” said Baker.

Baker and Fishbein are seeking all use groups, including restaurants. Divisions will be considered and basement space is available.

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