New York Real Estate Journal

Winick Realty Group markets Park Avenue South retail flagship opportunity on behalf of TF Cornerstone

February 10, 2014 - Brokerage
According to Winick Realty Group president Steven Baker, there is a brand-new storefront coming to market at 387 Park Ave. South, located on the Northeast corner of East 27th St. The 12,000 s/f space is well-suited for a retail flagship with 200 feet of frontage along Park Avenue South and East 27th St. "387 Park Ave. South is situated at the epicenter of new development on Park Ave. South," said Baker, who is marketing the property along with Winick Realty Group broker Aaron Fishbein. "The area where Madison Sq. meets NoMad is exhibiting dynamic growth from new restaurants, new trendy hotels and the two luxury residential towers currently under construction across the street." The retail at 387 Park Ave. South is uniquely positioned to capture the 24/7 pedestrian traffic coming from nearby Madison Square Park; the NoMad, SLS, and Gansevoort hotels; acclaimed Park Avenue South restaurants; and the 6 train station located one half a block away at East 28th Street, which has an annual ridership of approximately 7 million. The new storefronts are part of TF Cornerstone's multi-million dollar renovation of the entire 200,000 s/f office building, which includes a new three-story façade, new lobbies, new elevators, upgraded mechanicals throughout, and a glass penthouse and roof deck. Construction is currently underway. Baker and Fishbein are seeking all use groups, including restaurants. Divisions will be considered and basement space is available. "This is a great opportunity for the right tenant to be part of a truly vibrant retail strip surrounded by premier restaurants, hotels, office buildings, and luxury residences," said Fishbein. "We are happy to represent TF Cornerstone as they unveil this exciting new retail site."