Sinvin Realty has promoted former senior director, Steve Rappaport, specializing in retail and restaurant leasing representing both tenants and landlords, to managing director.
"Steve has closed a dozen retail leases so far this year despite the challenges of the current market, and more are in the works," said Sinvin principal, Michael Glanzberg.
Since joining Sinvin in 2006, Rappaport quickly became one of the top producers at the preeminent downtown commercial brokerage. His extensive knowledge of the city and years of practical experience negotiating leases and building out innumerable stores enables him to smoothly navigate the process for his customers, and to realize successful transactions.
Rappaport ran two retail businesses of his own in downtown Manhattan: a leather goods business, Original Leather, for more than 30 years, and an ice cream business, Mary's Dairy, for three years. Original Leather began in an historic sandal shop on West 4th St. where Bob Dylan wrote Positively Fourth St., and grew into a seven-store leather and shearling chain with a celebrity clientele. The flagship store was on Spring St. in SoHo, with other units on Madison and Columbus Aves.
Rappaport also created Mary's Dairy, a high-end, edgy ice cream store with locations in the West and East Village. Once discovered, an intense buzz ensued, garnering extensive media coverage and effusive praise from the food press. Mary's Dairy's loyal following packed the stores with lines flowing out the door.
Rappaport's forte in real estate lies in effectively translating his familiarity with both the food and dry goods retail business to his task as a broker. He encourages landlords and tenants to see themselves as partners rather than adversaries. Rappaport has a knack for turning contentious situations into occasions for cooperation.
Rappaport grew up in the city, attending Stuyvesant High School, Queens College, and The New School for Social Research. He spent four years after school on Wall St., working first at the New York Stock Exchange and then as a stock trader at Oppenheimer and Co. He spent the early 70's traveling in Afghanistan, Crete, and California, and driving a cab in Manhattan. He opened his first store in 1975.
Brooklyn, NY Marcus & Millichap brokered the sale of 733 Dekalb Ave., a fully free-market multifamily and retail property in the Bed-Stuy neighborhood. The asset sold for $2.8 million.
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