Wantagh, N.Y. — The French Workshop has opened a 3,750-square-foot artisanal bakery and café at Willow Wood Shopping Center in the Long Island community of Wantagh. Robert Delavale of the Breslin Realty represented the landlord in the lease negotiations on an internal basis. Cary Fabrikant, also with Breslin Realty, represented the tenant. Other tenants at the center include Starbucks Coffee, Petco and Jovia Financial Credit Union.
Poughkeepsie, N.Y. — Berkshire Bank has provided $36.1 million in financing for The Shoppes at South Hills, a 512,218-square-foot shopping center located north of New York City in Poughkeepsie. Tenants at the property include ShopRite, At Home, Ashley Furniture, Hobby Lobby and Christmas Tree Shops. The borrower, a partnership between Acadia Realty Trust and DLC Management, will use the proceeds to refinance and reposition the center. The nonrecourse loan carries a five-year term and a fixed interest rate. Mike Tepedino and Stephen Van Leer of JLL arranged the financing.
Woodbury, N.Y. — Marcus & Millichap has brokered the $11.3 million sale of a 4,875-square-foot retail property in the Long Island community of Woodbury that is net leased to Chase Bank. The newly constructed building is located at 7920 Jericho Turnpike. Alan Lipsky and Barry Wolfe of Marcus & Millichap represented the seller, an entity doing business as 7940 Woodbury Partners LLC, in the transaction. The buyer was KIT Realty Inc. John Horowitz of Marcus & Millichap assisted in closing the deal as the broker of record.
New York City — Pier 57 has announced the vendor lineup for Market 57, a new food hall located in Pier 57 on the Hudson River waterfront in in New York City. Curated by anchor tenant the James Beard Foundation (JBF), the list features 15 food and beverage vendors. The lineup includes Ammi, Bessou, Bird & Branch, Due Madri by Butcher Girls, Local Roots, LoLo’s on the Water, Malai, Mijo, Mothershuckers, Nom Wah, Harlem Hops, The Galley by Lobster Place, The Good Batch, Ras Plant Based and Zaab Zaab. Market …
Watertown, N.Y. — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has brokered the sale of The Plaza at Salmon Run, a 68,761-square-foot shopping center located in the upstate New York community of Watertown. Hannaford anchors the center, accounting for 76 percent of the gross leasable space with a lease that runs through 2028. Other tenants include Red Robin, boating specialist West Marine and salon Zoom Tan. Jim Koury led an IPA team that represented the buyer and seller, both of which requested anonymity, in the transaction.
Queens, N.Y. — Cord Meyer Development Co. has signed three new leases at Bay Terrace Shopping Center in the Bayside neighborhood in Queens. Restaurants Avo Taco, Rosa Pizza and Monster Crab will occupy 2,533, 2,770 and 3,988 square feet, respectively. Tom Rettaliata of RIPCO Real Estate brokered the lease with Avo Taco, and Hymie M. Dweck of RIPCO Real Estate arranged the lease with Monster Crab. Matthew O’Grady of Cord Meyer represented the company as vice president of leasing. Additionally, Kyuramen Restaurant and Bar and Gregory’s Coffee have leased space …
New York City — Ashkenazy Acquisition Corp. has received a $20.6 million loan for the refinancing of a 25,673-square-foot retail property located along Third Avenue on Manhattan’s Upper East Side. The property was fully leased at the time of the loan closing. Ronnie Levine and Ben Jacobs of Meridian Capital Group arranged the 10-year, fixed-rate acquisition loan through Bank of Montreal on behalf of ownership.
Westbury, N.Y. — Northmarq has arranged the $80 million refinancing of Roosevelt Raceway Center, a 428,483-square-foot shopping center located in the Long Island community of Westbury. The center, which sits on a 48-acre site less than a mile from Roosevelt Field Mall, houses tenants such as The Home Depot, Food Bazaar Supermarket, David’s Bridal and PGA Tour Superstore. Robert Delitsky and Charles Cotsalas of Northmarq arranged the fixed-rate loan through a regional bank on behalf of an undisclosed borrower.
Huntington, N.Y. — Four new tenants are set to open at Huntington Shopping Center, a 21-acre retail center located on Long Island. Federal Realty Investment Trust has arranged leases with The Container Store, Burger Village, Love Sac and Just Salad as part of a $75 million redevelopment currently underway at the property. The Container Store will occupy 15,676 square feet adjacent to Whole Foods Market, which is under construction. Burger Village and Just Salad will lease 2,756 square feet and 2,382 square feet, respectively. Furniture retailer Love Sac will open …
The New York City retail market is currently functioning like an episode of The Price Is Right. Developers, investors, brokers and operators are all trying to attach fair values to rents and sales prices for spaces of all sizes and submarkets. But after a tumultuous period marked by a global pandemic and record inflation, followed by a string of severe interest rate hikes, accurately assigning those numbers is easier said than done — at least in some submarkets. According to data from JLL, at the end of the third quarter, the …