Kim Mogull, founder and CEO of Mogull Realty, has concluded three retail transactions on behalf of its client, Florida-based BankUnited. The corner bank branches are scheduled to open March 2013 and represent an aggregate lease value of $150 million.
The bank will open its 11,000 s/f flagship in Herald Square at 960 Sixth Ave. on the northeast corner of 35th St.; a 5,500 s/f location at 299 Park Ave. on the northeast corner of 48th St.; and a 14,000 s/f triplex at 136 East 57th St. on the southeast corner of Lexington Ave. Representing the locations were Robert Kaplan of Hidrock Realty who worked in-house for 960 Sixth Ave.; Annette Healey of CBRE, who represented Wachovia at 299 Park Ave.; and in-house broker Richard Halpern of Silk & Halpern who negotiated on behalf of 136 East 57th St.
"Mogull Realty has been a trusted business partner throughout our retail expansion in the tri-state area and in Florida. Kim Mogull is 100% client driven with unrivaled loyalty and integrity" said Frank Martorana, BankUnited's senior executive vice president. "Those traits are extremely rare in this day and age, particularly in a market as competitive as New York City."
Over the last decade, Mogull represented BankUnited's principals leasing branches on behalf of their previous bank, North Fork. "The principals of BankUnited have been Mogull Realty clients for over a dozen years," said Mogull. "We assisted with their expansion, relocation and disposition needs throughout bank mergers, acquisitions and the sale of North Fork. Our next collaborative endeavor is launching and expanding BankUnited."
The BankUnited leases were complicated, however, by a non-compete agreement with North Fork's successor that prevented BankUnited from opening in New York prior to 2013. Unable to reveal its entry into the market, Mogull created unique signage with giant question marks proclaiming the corners leased without naming the tenant. Those signs have now come down and will soon be replaced by the doors of BankUnited.
"With its strong business relationships, dedication to service and of course, fantastic branch locations, I am confident that BankUnited will quickly emerge as one of New York's powerful commercial banks and stimulate new opportunities, investments and job creation," said Mogull. "We are proud to be a part of their launch and ongoing growth."
Mogull Realty is a privately owned, full-service real estate company with offices in New York and Florida. Mogull Realty specializes in marketing and leasing high-end, signature properties and in representing Class A credit tenants that include BankUnited, The ONE Group, Hospitality Holdings and Aspinal of London.
Mogull Realty has a 27-year track record of bringing world class tenants to properties it represents. In Times Square, Mogull Realty leased the entire retail component of 1600 Broadway, which included the transformative M&M's World deal. On behalf of Rockefeller Group Development Corp. and Oceana, Mogull relocated the elegant seafood restaurant into 22,000 s/f in The McGraw Hill Building. Mogull Realty brought both The Gansevoort Hotel Group's New York and Florida portfolio as well as The Trump Organization's retail portfolio to 100% occupancy concluding leases with tenants such as Godiva, Megu, David Barton Gym, Curve Apparel and Capital One Bank.

As the exclusive agent for T-Mobile, Mogull Realty completed 51 transactions on the East coast within a 12-month time span. On SCOOP's behalf, Mogull Realty opened stores throughout Chicago, Connecticut, Florida, East Hampton and New York City.Mogull Realty has a successful track record of securing high profile locations across the country for its signature restaurant clients such as bringing STK and STKout to The Grace Building, New York City; and The Cosmopolitan Hotel of Las Vegas; and to our nation's capital, Washington, D.C., where the modern steakhouse is scheduled to open 2nd QTR 2013. Tags: