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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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FinanceNew YorkNews

Axiom Capital Arranges $13.2 Million Refinancing of Upstate New York Retail Center

by Katie Sloan

East Greenbush, N.Y. — Axiom Capital Corp. has arranged a $13.3 million permanent loan for the refinancing of a retail center in East Greenbush, roughly six miles southeast of Albany. The 301,894-square-foot property comprises six separate buildings and was leased to 16 tenants at the time of the loan closing. The lender was a local bank, and the borrower was an undisclosed development and management firm. 

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LeasingNew YorkNewsPop-Up Retail

IT’SUGAR Opens 20,335-Square-Foot Pop-Up in New York’s Times Square

by Katie Sloan

New York City — IT’SUGAR has opened a 20,335-square-foot pop-up candy department store in New York City’s Times Square. The two-story location was previously occupied by Modell’s. The store is the company’s second largest pop-up to-date, featuring over 35 licensed candy brands, retro and international candies and TikTok-trending treats. The location also features a lollipop garden. Terms of the Times Square lease were not disclosed, but IT’SUGAR pop-ups tend to occupy spaces between 13 and 36 months. 

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Investment salesNew YorkNews

Vanbarton Group Sells Retail Assemblage in The Bronx for $22.7 Million

by Katie Sloan

New York City — Vanbarton Group has sold a 23,339-square-foot retail assemblage in the Morrisania neighborhood of The Bronx for $22.7 million. The sites collectively span a full block and are located at 1031-1049 Westchester Ave. and 1057 Southern Blvd. Josh Neustadter and Jonathan Squires of Cushman & Wakefield represented Vanbarton Group in the transaction. Jason Gold, Victor Sozio and Daniel Mahfar of Ariel Property Advisors represented the buyer.

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Macy's Toys "R" Us
Company newsNew YorkNews

Toys “R” Us to Open In-Store Shops at Macy’s Locations Across the US

by Katie Sloan

New York City — Macy’s has announced a partnership with WHP Global to open Toys “R” Us in-store shops within all of its locations across the U.S. Toys “R” Us stores will range from 1,000 to 10,000 square feet and are set to open from late July through October 15.  Each location will feature colorful fixtures, demonstration tables for customers to interact with toys, and a “Geoffrey on a Bench” photo opportunity for families. The in-store shops may also grow by an additional 500 to 3,000 square feet during the …

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DevelopmentLeasingNew YorkNews

Marx Realty to Break Ground on 6,000-Square-Foot Chick-fil-A in Brooklyn’s Midwood Neighborhood

by Katie Sloan

New York City — Marx Realty is set to break ground on a 6,000-square-foot Chick-fil-A restaurant in the New York City borough of Brooklyn. The location will be developed on a site formerly home to a three-story office building at 157 Flatbush Ave. in the borough’s Midwood neighborhood. Chick-fil-A will occupy the property under a 20-year lease upon completion. The restaurant will be Chick-fil-A’s first ground-up, stand-alone location in New York City. Henry Henderson and Michael Friedman of Inline Realty represented Marx Realty and Jeremy Ezra of Newmark represented Chick-fil-A …

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Northeast-Heights
Grocery-anchoredInvestment salesNew YorkNews

Cedar Realty Trust Sells Grocery-Anchored Shopping Center Portfolio for $879 Million

by Katie Sloan

Port Washington, N.Y. — Cedar Realty Trust has sold a portfolio of 33 grocery-anchored shopping centers for $879 million, inclusive of existing debt. The names and addresses of the centers were not disclosed, but the properties are primarily located in high-density markets throughout the Northeast and Mid-Atlantic regions. The buyer was a joint venture between two New York City-based firms, DRA Advisors and KPR Centers. The sale, which was first announced in March, comes as part of the New York-based REIT’s plan to divest of its assets prior to being …

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Grocery-anchoredInvestment salesNew YorkNews

JLL Brokers $26.5 Million Sale of Stop & Shop Anchored Retail Center in West Haverstraw, New York

by Katie Sloan

West Haverstraw, N.Y. — JLL Capital Markets has brokered the $26.5 million sale of Samsondale Plaza, a 156,185-square-foot retail center located in the Rockland County community of West Haverstraw. Stop & Shop anchors the property, which was 91 percent leased at the time of sale to tenants including the New York State Department of Motor Vehicles, Dollar Tree, Advance Auto, Sports Clips, Sally Beauty Supply and Mandee. Jose Cruz, J.B. Bruno, Steve Simonelli, Michael Oliver, Kevin O’Hearn, Austin Pierce and Andrew Scandalios of JLL represented the seller, a joint venture …

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