Press

In the last year, dropping retail rents have motivated big brands to seek storefronts — which are now less expensive — along the city’s prime shopping strips. “The ones who have are making things happen and signing deals,” says Peter Braus of Lee & Associates NYC. “The smart tenants are, by and large, quietly out there making deals. Everyone likes to talk about the ‘retail apocalypse,’ but the reality is that tenants are seeing the value…

Target is taking over New York City with its small-format stores. The retail chain inked a deal for its eighth Manhattan store at the corner of East 29th Street and Second Avenue in Kips Bay, it announced in a press release. “We’re all incredibly excited to have Target anchoring the retail at Kips Bay Court,” Braus said in a statement from a spokeswoman. “They will be a tremendous addition to the neighborhood and to the…

The Country’s Food Hall Appetite Is Growing “Food halls are proliferating because customers are still enjoying options,” Tannor said. “When a group is meeting up for lunch, be it colleagues, business associates, clients, friends and even families, it’s hard for everyone to decide what they want to eat. Rather than settle and pick a restaurant that nobody is going to be happy at, food halls offer a variety of choices to please everyone’s taste buds. In…

Bay Watch Brooklyn’s development boom is hitting Sheepshead Bay, but the glut of condos is causing a commercial shortage, sources say. “You’re not going to find that many investors willing to develop or operate office buildings out there, and that’s part of the problem,” said Henry Abramov, research director at the New York-based commercial brokerage Lee & Associates, which recently shared an analysis of the neighborhood with The Real Deal. Read the entire story here…

    “Experts at the 122nd Real Estate Board of New York Banquet look forward to a great 2018”  Click here to read the entire article

Alo Yoga, 241 Bedford Avenue, Williamsburg – 14,228 square feet The yoga studio signed a lease for 14,228 square feet of retail space at 241 Bedford Avenue. Lauren Musacchio and Alissa Bersin of McDevitt Company represented the tenant. Jaime Schultz of Lee & Associates NYC represented the landlord, RedSky Capital.   https://therealdeal.com/2018/03/06/the-top-10-nyc-retail-leases-in-february/

E-lo Sportswear/Zaralo is consolidating and moving to 34,000 square feet on the top two floors of 469 Seventh Ave., right across from the upcoming Moxy hotel. The tenant will take the 15th and 16th floors in the deal represented by a Lee & Associates NYC team of Ken Salzman, Mitchell Kunikoff and Andrew Lesser. The fashion house is currently located in numerous spaces at the nearby 500 Seventh Ave. E-lo and Zaralo, its wholly owned…

Peter Braus, Managing Principal of Lee & Associates NYC, has arranged a lease for the Church Street School for Music and Art at 41 White Street in Tribeca. Working directly with Executive Director Lisa Ecklund-Flores, who founded the non-profit music and arts school in 1990, Mr. Braus spent nearly two years searching for a location that met the school’s criteria for affordability in the Tribeca submarket and room enough to accommodate a student body that starts at…

“Like other retailers, traditional toy retailers have been decimated by multiple forces,” says Peter Braus, managing principal in the New York City office of Lee & Associates. “First, Walmart and Target took away much of the market from specialty toy stores. As Amazon and online retailers began to take a larger and larger share of the market, this became too much for Toys ‘R’ Us and was the nail in the coffin.”  Click here to…