Insights

Longtime investment sales broker Ben Tapper has landed at Lee & Associates NYC after nearly 15 years at Eastern Consolidated, which shut down earlier this summer. Tapper, 42, started Sept. 5 as a senior managing director at Lee’s newly launched investment sales division, the firm’s spokeswoman told Commercial Observer. He spent 14.5 years selling development sites, commercial condominium units, residential properties and mixed-use buildings, in addition to hammering out long-term leaseholds and 1031 exchanges. Click here…

Lutheran Social Services of New York (LSSNY) has taken 11,366 square feet at 75 West 125th Street to house its foster care program, Commercial Observer has learned. The space spans the third and fourth floors of the four-story, 27,933-square-foot property between Fifth and Lenox Avenues, according to information provided by Lee & Associates NYC, the tenant’s broker. Click here to read the full article from Commercial Observer.

Lee & Associates NYC, previously focused on retail and office leasing and having recently formed an investment division, has now branched into residential services. Joel Herskowitz, an investor in Lee & Associates NYC and the COO, who was instrumental in bringing the company to Manhattan in November 2011, will oversee management of the new division. Previously, Herskowitz served as a senior director at Cushman & Wakefield from 2008 to 2010, president and CEO of Grubb…

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At a time when investment sales firms are finding their footing, the seven-year-old leasing-heavy Lee & Associates NYC has joined the investment sales fray with a new nine-person division. Click here to read the full announcement from Commercial Observer.

Mark Kapnick, Executive Vice President/Principal, at Lee & Associates NYC has arranged a 950-square-foot, two-year lease at 68 Prince Street, between Lafayette and Crosby Streets, for NOBULL, an athletic footwear, apparel and accessories brand designed for the serious athlete. The space also includes 510 square feet on the lower level. This will be the first store location for the company. Click here to read the full story from CityBizList.

As retailers look to diversify, engage in community building and be experiential, some brands like Equinox, Restoration Hardware and Shinola are getting into the hospitality business. Commercial Observer spoke with retail pro Peter Braus of Lee & Associates NYC on why brands are making the leap into the hospitality arena. Click here to watch the video from Commercial Observer. 

The Fitness Factory Health Club will set up shop in Yonkers at RXR Realty’s Larkin Plaza Development. Lee & Associates brokers Steve Lorenzo, Mitchell Salmon and Chris Ventura arranged a 15-year, 16,000 s/f lease at the three-building mixed-used complex being developed by RXR as part of its Public/Private Partnership strategy to develop in transit-oriented developments within close proximity to Manhattan. Click here to read the full story in Real Estate Weekly.

Lee & Associates NYC has been awarded the retail leasing agency at the Victoria Theater redevelopment in Harlem. The agency, which is being handled by Lee NYC’s Mark Kapnick and Stanley Lindenfeld, covers 23,199 square feet of space on the property’s first and second floors. Click here to read the full story from Connect Media CRE.