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…
COO Joel Herskowitz featured in “Insights from 122nd REBNY Banquet”
“Experts at the 122nd Real Estate Board of New York Banquet look forward to a great 2018” Click here to read the entire article
The top 10 NYC retail leases in February: Alo Yoga – 241 Bedford Avenue
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/
New York Post Highlights Lee & Associates Midtown Deal
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…
Lee NYC Awarded Exclusive Retail Agency for Queens’s Promenade Shops at LeFrak City
Mark Kapnick, Executive Vice President/Principal, Bradley Diamond, Managing Director, and Elliot Diamond, Director, of Lee & Associates NYC LLC (“Lee NYC”) have been named the exclusive agents for 15,000-plus square feet of retail space at the Promenade Shops at LeFrak City, on 99th Street between 57th Avenue and Horace Harding Expressway in Queens. Click here to read more.
REBusiness Quotes Peter Braus On Toys R Us Closing 20% of its Stores
“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…
citybizlist Interviews Peter Braus on Church Street School For Music & Art
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 16-months…
Lee NYC — 4Q17 Manhattan Office Report
We think smarter about real estate. Our Trend Trackers—state-of-the-market reports issued quarterly for Manhattan, Long Island and, coming soon, Brooklyn—offer insight you’ll find nowhere else. We write articles on industry-related topics, lead panels, and remain involved in issues that affect our City and our industry. 4Q 2017 Market Office Report (Trend Tracker)
Q4 2017 Lee Industrial Brief
US Industrial Market – Demand Falls But Healthy, Signs of Caution Demand for industrial space fell 15.6% in 2017 from a year ago as net absorption totaled 231 million SF, its lowest level since 2014. Despite stronger fourth-quarter demand, net absorption of industrial space nationwide skidded 13% for the year and flex space plunged 36.5%. Click here to read the entire Q4 2017 Lee Industrial Brief