News: Brokerage

Baker and Galo of Winick Realty Group complete 4,943 s/f retail leasing at GALERIE

Queens, NY According to Winick Realty Group, two retail tenants have signed leases for their first Long Island City locations at GALERIE, a 182-unit condominium located at 22-18 Jackson Ave. in Court Sq., completing leasing efforts for 4,943 s/f of retail at the base of the building.

F45 Training, a circuit- and hiit-style workout facility with locations in 40 states and Washington D.C., signed a lease for 2,300 s/f of ground-floor space, joining major fitness players such as Planet Fitness, Orange Theory, Club Pilates and Row House that have recently brought their brands to the Long Island City market. Pediatric Associates of NYC, which has been operating since 1948 and currently has two locations in Manhattan and Brooklyn, signed a lease for the remaining 2,643 s/f on the ground floor.

“Long Island City is attracting tenants of this caliber as young professionals and families continue to move into new and existing residences in the neighborhood,” said Winick director Thomas Galo. “There is so much development in this area, between the 1,115-unit 5Pointz Residence and the 1 Court Square office building nearby, that the need for amenities such as these will only grow stronger in the coming years.”

Winick president Steven Baker and Galo have been working with developers Adam America Real Estate and Vanke US to market the project since construction began in 2017. Its location includes multiple transportation arteries and the MoMA PS1, with Trader Joe’s coming soon to further build the Court Sq. market.

 “We are pleased to bring these tenants to Long Island City, and specifically this bustling area of Court Square, as new traffic continues to be generated, making these types of tenants all the more important for area residents, office workers and visitors,” said Baker. 

F45 Training was represented by Michael Azarian of Cushman & Wakefield, while Pediatric Associates of NYC was represented by Elliot Zelinger of Savitt Partners. Baker and Galo represented ownership in both lease transactions.

READ ON THE GO
DIGITAL EDITIONS
Subscribe
Columns and Thought Leadership
Strategic pause - by Shallini Mehra and Chirag Doshi

Strategic pause - by Shallini Mehra and Chirag Doshi

Many investors are in a period of strategic pause as New York City’s mayoral race approaches. A major inflection point came with the Democratic primary victory of Zohran Mamdani, a staunch tenant advocate, with a progressive housing platform which supports rent freezes for rent
AI comes to public relations, but be cautious, experts say - by Harry Zlokower

AI comes to public relations, but be cautious, experts say - by Harry Zlokower

Last month Bisnow scheduled the New York AI & Technology cocktail event on commercial real estate, moderated by Tal Kerret, president, Silverstein Properties, and including tech officers from Rudin Management, Silverstein Properties, structural engineering company Thornton Tomasetti and the founder of Overlay Capital Build,
Behind the post: Why reels, stories, and shorts work for CRE (and how to use them) - by Kimberly Zar Bloorian

Behind the post: Why reels, stories, and shorts work for CRE (and how to use them) - by Kimberly Zar Bloorian

Let’s be real: if you’re still only posting photos of properties, you’re missing out. Reels, Stories, and Shorts are where attention lives, and in commercial real estate, attention is currency.
Lasting effects of eminent domain on commercial development - by Sebastian Jablonski

Lasting effects of eminent domain on commercial development - by Sebastian Jablonski

The state has the authority to seize all or part of privately owned commercial real estate for public use by the power of eminent domain. Although the state is constitutionally required to provide just compensation to the property owner, it frequently fails to account