News:
Brokerage
Posted: May 26, 2015
Levitan and Steinberg of Lee NYC broker retail lease at 857 Union St.
Lee & Associates NYC LLC (Lee NYC) senior managing director/principal Peter Levitan and managing director/principal Garry Steinberg set a new record in Park Slope with a retail lease of $180 per s/f at 857 Union St. The tenant, Warren Lewis Sotheby's International Realty, specializes in Brooklyn residential real estate and will relocate from 123A Seventh Ave. in the second quarter of this year. The space, which formerly housed a pharmacy, comprises 1,050 s/f on the ground floor and 1,050 s/f in the basement.
"With this transaction, the landlord gains an established, successful local business at almost double the average neighborhood rent," said Levitan. "Moreover, with this new location on Park Slope's most trafficked corridor, the tenant gains greater exposure and more convenient access for customers."
Levitan and Steinberg represented the landlord, DB & L 859 Realty LLC. Jeffrey Kessler of Warren Lewis Sotheby's represented the tenant.
Tags:
Brokerage
MORE FROM Brokerage
Industrial Realty Group acquires 422,727 s/f distribution facility in south St. Paul
St. Paul, MN Industrial Realty Group, LLC (IRG) acquired a 422,727 s/f industrial distribution facility located at 411 Farwell Ave. in south St. Paul. The property was formerly the headquarters of The Sportsman’s Guide, an online and
Quick Hits
 (2).gif)
Columns and Thought Leadership
Hunt commercial real estate question and answer: The total cost of relocation - by David Hunt
You have a right to be concerned. I am always surprised at the companies that will negotiate the price of their new facility down to the last dollar, without thoroughly analyzing their
Artificial intelligence in lending - by Lindsay Mesh Lotito
Artificial intelligence (AI) is beginning to help transform lending by enhancing decision-making, improving risk management and streamlining operations. With AI-powered tools that analyze vast amounts of data, lenders are able to assess borrower creditworthiness more accurately and efficiently. AI can evaluate a wide range of factors,
New York’s streets are full again, and the retail numbers prove it - by Noam Aziz
Walk down any New York block this year and you can feel it. The sidewalks are crowded, the storefronts are lit, and the energy that defines this city is back at full volume.
The death of the generic offering memorandum: What buyers expect in 2025 - by Kimberly Zar Bloorian
There was a time when an offering memorandum (OM) was pretty bare bones, some photos, a few bullet points on income, and a rent roll thrown in at the back. That used to get the job done. Not anymore. In 2025, buyers are sharper, faster, and more selective. They’re looking
.gif)
August Promotion
