Peter Ripka and Gene Spiegelman took home REBNY’s Most Impactful Retail Deal of the Year award for brokering grocery chain Wegmans’ 83,000-square-foot lease at Vornado Realty Trust’s 770 Broadway, the former location of the Astor Place K-Mart.
The 30-year agreement marks Wegmans’ first entry into Manhattan and its second location in the city, following a store in the Brooklyn Navy Yard that opened in 2019. The store is expected to open in the second half of next year.
The partners shared that increased office occupancy and tourism have recently brightened the future of Manhattan retail, despite the effects of rising inflation. “Street traffic has materially increased and the vibe of the city is back.”