Ripco Real Estate receives Deal of the Year from the Real Estate Board of NY (REBNY) Approximately 10 transactions were chosen from numerous entries, one of which was Peter’s entry entitled “The Leasing Journey of East River Plaza” which chronicled the 15 year history of the project from Washburn Wire right through the recession to the present tenant openings.
Elm Health, a mom-and-pop retailer with a location on the Upper East Side, recently signed a long-term lease for 5,000 square feet at 56 Seventh Ave. at West 14th Street, the former home of struggling Rite Aid. Asking rent was $175 a square foot, though sources say the 20-year deal closed closer to $100 a square foot.
“They’ve been quietly waiting for a few years to find the right deal,” said Brad Cohen, the Ripco Real Estate broker who, along with colleague Andrew Mandell, represented both Elm Health and landlord RREEF America. Mr. Cohen explained that Elm Health, which is both a pharmacy and a health foods store, will now face a Duane Reade and a West Side Market. “They’re not afraid of the competition,” he says.
Rents have dropped in the design district of midtown east enough for some merchants to expand. Josh Nazmiyal, a rug seller who operates a shop selling to the trade in the area, recently signed a 10-year lease for his second shop at 1111 Second Ave., at the corner of East 59th Street. The asking rent for the 3,700-square-foot space was about $125 a square foot.
Landlord the Olnick Organization was represented by Ripco Real Estate Corp.’s Brad Cohen and Scott Auster, who has left Ripco since the transaction.
The ground-floor space was formerly housed the Lighting Center, which occupied both the ground and second floors but is consolidating its operations on the second floor.
Leasing activity on Bleecker Street is holding up well despite the recession, thanks to reasonable rents, solid retail tenants and strong pedestrian traffic in the neighborhood, brokers say.
“The pedestrian traffic on Bleecker has remained strong through the recession,” said Pamela Haber, the Ripco Real Estate Corp. broker who, along with colleague Richard Skulnik, represented Freemans and landlord William Gottlieb Real Estate. “The street is still sought out by a lot of retailers.”
Boutique grocer Gracefully Inc. recently signed a 15-year lease for 6,400 square feet on the ground floor of the tower, the former home of Domain Furniture.
“A lot of people fail to recognize that you turn a corner and you’re practically in Columbus Circle,” said Brad Cohen, the Ripco Real Estate broker who represented both Gracefully and landlord Archstone. “It’s an untapped market for grocers.”
Mr. Cohen expects even more retail leasing in the area as new towers come on the market, including The Rushmore on Riverside Drive and West 64th Street, which Extell Development is now building.
The former Linens & Things store at the Gateway Plaza in Patchogue, Long Island, NY, has been leased to Home Goods. Jeremy Isaacs of Ripco Real Estate in Jericho represented Home Goods.
The center's also includes Best Buy, Bob's Stores, Marshalls & King Kullen. Also a soon to be 45,000 sf LA Fitness health club built behind the Home Goods store.
Contact: Jeremy Isaacs
Tuesday, September 22, 2009
Ripco Real Estate has been hired to lease or sell a brand new retail space in West Chelsea, directly opposite the High Line Park. There is 4,762 sf of retail space and 560 sf of community space located at the southeast corner of Tenth Ave & 19th St.
Contact: Andrew Mandell Richard Skulnik Patricia Garcia
Tuesday, September 22, 2009
Ripco Real Estate has been hired to lease or sell brand new retail space in NOHO at 351 Bowery. The three levels of commercial space are available for all uses.
Contact: Andrew Mandell Richard Skulnik Pamela Haber
Friday, September 11, 2009
Ripco represented the Landlord in leasing to Brendel's Bagels & Eatery of NY, there 2nd store location at 133 Route 110, Huntington Station, NY.
http://www.brendelsofnewyork.com/
Contact: Daniel Glazer
Friday, September 11, 2009
Ripco represented Kimco Realty in leasing the T.G.I. Friday's at the Town Center at Central Islip, Centra lslip, NY.
Contact: Daniel Glazer
Friday, September 11, 2009
Ripco is representing the Landlord and is responsible for leasing the Best Buy, Petco, Toys/Babies R Us, Ulta, AT&T, Olive Garden & Red Lobster at the North Haven Commons. The center is located on Route 91 in North Haven, CT
Contact: Daniel Glazer Jeff Howard
Monday, January 08, 2007
Ripco Real Estate has completed the first LA Fitness transiition in Staten Island, NYC. LA Fitness is one of the leading fitness/sports club chains in the US and now operates 5 units in Metro NY. There is a strong desire for more LA Fitness locations througout the metropolitan New York area.
Contact: Brian Schuster
Thursday, November 09, 2006
Ripco is proud to annouce the opening of Kohls in Commack, Long Island. Ripco is assisting Kohls in their expansion across Metro NY.
Contact: John Hanlon
