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Events
Wednesday April 30th
Bisnow: NYC Retail Real Estate Summit
New York, NY

With the unforgiving polar vortex behind us, and consistent upticks in consumer demand dispelling market anxieties stemming from the Fed’s tapering policies, there is only one direction retail is heading. Up! The consumer is back, and retail is king. Come hear about it from the industry leaders themselves at Bisnow’s 4th Annual NY Retail Summit.

Get 20% off by using this discount code at checkout: retailmls2014

Click here to register!

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May 18-20, 2014
ICSC RECon Las Vegas
Las Vegas Convention Center

RECon is the global convention for the shopping center industry and provides networking, deal making and educational opportunities for retail real estate professionals from around the world. With over 34,000 attendees and 1,000 exhibitors it is the largest industry convention, making it an unparalleled opportunity to do a year’s worth of business in just three days! If you are looking to meet retailers to discuss new or existing leases in your centers, view the latest industry products and services that are critical to your business, attend educational sessions or find the next deal, then you need to attend RECon.

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Wednesday June 11th
ICSC: New York Program and Networking Breakfast
New York, NY

Join us and gain valuable insight into the dynamic retail environment in the outer boroughs of New York City.

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Thursday July 17th, 3-9pm
Social Retail Summit #7
Dumbo Spot, New York

Social retail is the new approach to customer relations developed by next generation omnichannel retail brands, from online community to offline sales.

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Featured Article
Williamsburg Retail on the Upswing
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Retail sales in Williamsburg hit great numbers in 2013, quadrupling year-over-year from 2012. Additionally, average price per square foot more than doubled, according to TerraCRG, a Brooklyn commercial brokerage firm.

There were nine Williamsburg retail building sales in 2013, compared to 2 in 2012. The average price per square foot in 2012 was $273, compared to this years $753.03. The nine buildings in 2013 include: 92-102 North 6th Street for $49 million, 110-112 North 6th Street for $15 million, 132 Bedford Avenue for $11.22 million, 330-342 Graham Street for $5 million, 267 Broadway for $4.59 million, 845 Grand Street for $3.85 million, 1031 Flushing Avenue for $1.23 million, 453 Broadway for $825,000 and 334 Lorimer Street for $700,000.

Posted on February 27, 2014

Featured Article
Guest Blogger Faith Hope Consolo: The Faithful Shopper: Spring Vacation
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Are you as done with winter as I am? I’ve never seen our friends and neighbors in more need of a spring break in the sun! While it may be cold and snowy outdoors, our city’s shops are all about spring and resorts, so visit a few of the following to prepare for a quick vacation, or pretend you are:

Casual Clothing

Michael Kors – Multiple locations
From apparel to bags to shoes, Kors could outfit your entire vacation. But I love the clothing this year — casual but with enough style to take you from a beach-filled day to a lovely restaurant in the evening.

Posted on February 19, 2014

Featured Article
Press Release: Eastern Consolidated Arranges Sale of Coveted Chelsea Property for $35.6 Million
Eastern Consolidated

NEW YORK, February 14, 2014 – Eastern Consolidated, a leading investment sales brokerage firm, has arranged the sale of 161-165 West 17thStreet, also known as 119 Seventh Avenue, for $35.6 million. The fully occupied six-story, mixed-use property with 55 rent stabilized apartments and ground floor retail space has been owned by the Spector family and partners for 47 years. Edging out other interested parties, the buyer purchased the coveted corner property for a sale price at 22.5 times the rent roll, demonstrating the strength of the thriving Chelsea market.

Eastern Consolidated Executive Managing Director David Schechtman and Associate Abie Kassin exclusively represented the seller. Eastern Consolidated Senior Director Lipa Lieberman procured the buyer.

“This well-maintained, fully occupied property is a rare find in the hot Chelsea market, particularly a corner location with this much frontage and a well-known restaurant on the ground floor,” said David Schechtman. “Clearly the buyer sees the tremendous upside potential and opportunity to transition the rent stabilized units over time, as well as the value of this type of property in such a prime neighborhood. The Chelsea market will continue to thrive in the coming years with so much activity and new development.”

Posted on February 18, 2014

Featured Article
Guest Blogger Michael Stoler: New Jersey “Sub” Restaurant Chain Expanding Around the Nation and Entering the Big Apple
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Restaurant chains from around the nation set their sites to open in New York City. One of the newest chains to enter the Big Apple is a company headquarter in the Garden State.

“Jersey Mike’s Subs”an iconic Jersey Shore institution, opened its first Manhattan location, more than half a century after the company was founded. Known for its grilled East Coast-style subs, Jersey Mike’s opened on at 80 Maiden Lane at the corner of Gold Street.

Jersey Mike’s opened more than 100 restaurants nationally tin 2013, with a big push in the Tri-State area. Technomic ranked Jersey Mike’s the 3rd fastest-growing restaurant chain with sales above $200 million. The company was also named one of the top 10 growth companies based on U.S. system wide sales in the 2013 Nation’s Restaurant News Second 100 ranking and #1 in growth in the sandwich segment. The second Manhattan outpost is scheduled to open in February on Third Avenue and 56th Street.

Posted on February 12, 2014

Featured Article
Brendan Gotch
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Brendan Gotch was born and raised in the suburbs of New York City, and has lived in Greenwich Village for the last 10 years. Having joined Massey Knakal as an intern in 2003, Brendan’s role continued to evolve to where he was managing the firm’s top producing team in four of the last five years under [...]

Posted on February 12, 2014

Featured Article
Eighth Avenue Retailers Struggling as Rents Rise
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Retailers are really struggling on Eighth Avenue, between West 14th and West 23rd Streets as rents continue to rise. Over 12 businesses have closed here in the last 6 months. This leaves Eighth Avenue with several empty storefronts. Some of these retailers include The bar Rawhide, Pinkberry, and the clothing shop Camouflage. For example, Rawhide’s rent almost doubled, jumping from $15,000 per month to $27,000 per month, causing the owners to leave in March. The space is still vacant.

“The neighborhood is indoctrinated with tourists, people visiting the High Line and Google. They don’t come to small stores, they want to go to chains, places they know,” explained Camouflage owner Norm Usiak.

Posted on February 4, 2014

Featured Article
Guest Blogger Michael Stoler – Retail: One of the Most Sought Out Assets to Own in New York City
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New York City saw 54.3 million visitors in 2013, an all-time tourism high for the five boroughs, and a 54% increase since Mayor Bloomberg took office twelve years ago.

City officials estimate the overall economic impact of tourism in 2013 to be $58.7 billion. Direct visitor spending is projected to be $39.4 billion, up from $36.9 billion in 2012. A significant portion of the visitor spending is attributed towards purchases of retail products.

The combination of the visitors, coupled with the fact that New York City is under-retailed, has resulted in the appetite of real estate investors to own retail locations throughout the five boroughs, especially in Manhattan.

Eastern Consolidated’s December 2013 Retail Pulse Report showed that average asking rents are increasing in nearly every NYC neighborhood, including Fifth Avenue from East 49th Street to East 59th Street where they are city wide high of $3,000 per square foot. Average asking rents on Broadway and Seventh Avenue, from 42ndStreet to 47tth Streets, have risen above $2,000 per square foot.

Posted on February 3, 2014

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