News: Brokerage

Simone Development Cos. welcomes Charleys Philly Steaks to Throggs Neck

Bronx, NY According to Simone Development Cos., Charleys Philly Steaks has signed a 10-year, 1,500 s/f lease at the Throggs Neck Shopping Center in the Ferry Point neighborhood. Charleys Philly Steaks is expected to open in late Fall, marking the national franchise’s second location in the borough and fifth in the city.

“We are thrilled to welcome a national brand like Charleys Philly Steaks to one of the city’s most successful shopping centers,” said Josh Gopan, AVP of leasing for Simone Development. “Since its opening, Throggs Neck Shopping Center has been extremely attractive to retailers, with the Target among the most active nationally. The successful development has created hundreds of new jobs and boosted the borough’s economy. The shopping center is a testament to Simone’s dedication of repurposing vacant and under-utilized commercial property in the New York metropolitan area.”

Charleys Philly Steaks joins an extensive and diverse roster of tenants including retailers Target, TJ Maxx, Petco, Party City, and Skechers as well as restaurants Starbucks, Applebee’s, Subway, Chipotle, Sarku Japan, among others. Karnit Mosberg of Royal Properties represented both the tenant and the owner in the long-term lease. Throggs Neck Shopping Center is now 98% occupied.

Throggs Neck Shopping Center is located at the intersection of Lafayette Ave. and the Hutchinson River Parkway. The borough’s 300,000 s/f, large-scale retail development boasts secure free parking for over 600 cars and is anchored by a 165,000 s/f  Target department store.

READ ON THE GO
DIGITAL EDITIONS
Subscribe
Columns and Thought Leadership
A fresh start - by Shallini Mehra and Amit Doshi

A fresh start - by Shallini Mehra and Amit Doshi

For the past several years, the New York City multifamily housing market has been defined by disruption. The combined impact of the HSTPA rent laws and a sharply higher interest rate environment has fundamentally reduced
The death of the generic offering memorandum: What buyers expect in 2025 - by Kimberly Zar Bloorian

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
The anticipated effect of Basel III and ISO 20022 implementation on commercial real estate - by Michael Zysman

The anticipated effect of Basel III and ISO 20022 implementation on commercial real estate - by Michael Zysman

July 1, 2025 is the deadline for US banks to begin to adopt Basel III banking standards and July 14, 2025 is the deadline for U.S. banks to adopt ISO 20022 messaging standards. Both will have a significant effect on the banking and commercial real estate (CRE) finance sectors.
Tri-state capital  migrates nationally amid  regulation pressure - by Reese Weaver

Tri-state capital migrates nationally amid regulation pressure - by Reese Weaver

New York tri-state multifamily investors are increasingly reallocating capital to less-regulated markets across the U.S. as rent control and legislative risk erode returns at home. With over 60% of New York City’s rental housing stock classified as rent-stabilized, the traditional value-add model — buying under-performing buildings,