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DevelopmentMixed-useNew YorkNews

Joint Venture Explores Mixed-Use Redevelopment Options for 10-Acre The Galleria at White Plains

by Hayden Spiess

White Plains, N.Y. — Pacific Retail Capital Partners (PRCP) and Aareal Bank have formed a new joint venture with SL Green Realty Corp. and the Cappelli Organization to consider redevelopment options for The Galleria at White Plains, a 10-acre indoor shopping mall in the New York City suburb of White Plains. The envisioned renovations to The Galleria are part of a larger renaissance for the area. The mall is part of a qualified Opportunity Zone, meaning that new investments in the area may be eligible for preferential tax treatment under …

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120-Fifth-Ave-Brooklyn
DevelopmentFinanceMixed-useNew YorkNews

Cushman & Wakefield Arranges $142.9 Million in Construction Financing for Mixed-Use Project in Brooklyn

by Hayden Spiess

New York City — Cushman & Wakefield has arranged $142.9 million in construction financing for 120 Fifth Ave., a mixed-use development in the Park Slope neighborhood of Brooklyn. The borrowers, Senlac Ridge Partners and The William Macklowe Company, are redeveloping the two-acre site, currently a one-story vacant grocery store and its parking lot, into a 212,000-square-foot mixed-income housing property and retail plaza. The project will comprise two buildings featuring 180 residential units, 25 percent of which will be affordable. The development will also offer 67,000 square feet of retail space …

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LeasingNew YorkNews

Boot Barn Signs 10,000-Square-Foot Lease in Bohemia, New York

by Hayden Spiess

Bohemia, N.Y. — Boot Barn, a Western and work apparel retailer, has signed a lease at Sayville Plaza in Bohemia on Long Island. Boot Barn will occupy a 10,000-square-foot space at the shopping center, which features other tenants including Bed Bath & Beyond, Old Navy, Christmas Tree Shops, Panera Bread, The Vitamin Shoppe, Chipotle Mexican Grill, F45 Fitness, Sprint, Floor & Décor, At Home, Aldi and JOANN Fabric and Crafts. Robert Delavale of Breslin Realty arranged the lease on behalf of the landlord.

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New City Shopping Center
Grocery-anchoredInvestment salesNew YorkNews

KABR Group, BTF Purchase 125,110-Square-Foot Shopping Center in New City, New York

by Hayden Spiess

New City, N.Y. — The KABR Group, in partnership with BTF, has purchased New City Shopping Center, a 125,110-square-foot property located in New City, roughly 40 miles north of New York City. The grocery-anchored retail center was 96 percent leased at the time of the $30 million sale. Jose Cruz, J.B. Bruno, Kevin O’Hearn, Michael Oliver, Steve Simonelli, Andrew Scandalios and Austin Pierce of JLL Capital Markets represented the undisclosed seller in the transaction.

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LeasingNew YorkNewsRestaurants

Katz & Associates Arranges Two Retail, Restaurant Leases in Queens

by Hayden Spiess

New York City — Daniel DePasquale of Katz & Associates has leased two retail spaces located in the New York City borough of Queens. Japanese grocery store Teso Life has signed a 6,000-square-foot lease at 42-19 Bell Blvd. in the Bayside neighborhood, and Filipino fast-casual restaurant Jollibee will occupy 3,614 square feet on the ground floor at 91-23 Queens Blvd. DePasquale represented the landlords, Paulipark Associates LLC and Midwood, respectively, in both deals. Both tenants are scheduled to open in 2023.

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LeasingNew YorkNewsRestaurants

Breslin Realty Arranges Lease with Noodles & Company in Farmingdale, New York

by Hayden Spiess

Farmingdale, N.Y. — Breslin Realty has arranged a long-term lease with fast-casual restaurant Noodles & Company for 2,500 square feet of space at Republic Plaza, a shopping center located in Farmingdale on Long Island. Robert Delavale of Breslin negotiated the deal on behalf of the undisclosed landlord. Other tenants of Republic Plaza include Walmart Supercenter, Chili’s, Houlihan’s, Bank of America, Panera Bread, Chipotle Mexican Grill, Burger Village, The Halal Guys and AAA.

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Investment salesNew YorkNews

Regal Ventures Acquires Manhattan Retail, Parking Condo for $35.2 Million

by Hayden Spiess

New York City — Regal Ventures has acquired a 37,165-square-foot retail and parking condo located at 897 Eighth Ave. in Manhattan’s Hell’s Kitchen neighborhood for $35.2 million. The property’s retail component is 15,893 square feet, and the parking space spans 21,272 square feet. Regal Ventures acquired the property in partnership with Morrison Street Capital from Prudential Financial.

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Tin-Building_Pier-17_Seaport_Lower-Manhattan
DevelopmentNew YorkNews

Howard Hughes Opens 53,000-Square-Foot Tin Building Food Hall in Former Fish Market in Lower Manhattan

by Hayden Spiess

New York City — The Howard Hughes Corp. (NYSE: HHC) and chef Jean-Georges Vongerichten have opened the Tin Building by Jean-Georges, a 53,000-square-foot food hall at Pier 17 at the Seaport in Lower Manhattan. The new culinary destination is an adaptive reuse of the Tin Building, a historic waterfront property that once served as the site of the Fulton Fish Market. The new food hall features six new full-service restaurant concepts and six fast-casual counters, as well as three specialty retailers and bars serving wine, craft cocktails and craft beers. …

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Company newsNew YorkNews

Ralph Lauren to Open 250 New Stores

by Hayden Spiess

New York City — Ralph Lauren has announced plans to open 250 new stores over the next three years. These new stores comprise one aspect of the company’s plan for expansion, which also involves an omnichannel approach. “Our clear and choiceful strategies are expected to deliver sustainable long-term growth and value creation — fueled by our strong balance sheet and operating discipline — as we reinforce our position as a leading luxury lifestyle company,” says Patrice Louvet, CEO of the New York City-based company. Ralph Lauren’s new stores will be …

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DevelopmentNew YorkNews

Five Iron Golf to Open 30,000-Square-Foot Entertainment Center at 101 Park Avenue in Manhattan

by Hayden Spiess

New York City — Five Iron Golf will open a 30,000-square-foot entertainment center at 101 Park Ave. in Manhattan. The space will house the concept’s signature golf simulators, widescreen TVs, leisure games and a full-service restaurant and bar. Anthony Dattoma of CBRE and Jason Goode of Compass Real Estate represented Five Iron Golf in the lease negotiations. John Cefaly and Nicholas Dysenchuk of Cushman & Wakefield represented the landlord, H.J. Kalikow & Co. A tentative opening date was not disclosed.

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