News: Brokerage

Tomai of Casandra Properties arranges 3,500 s/f lease to Yong Kang Street at BFC Partners' Empire Outlets in Staten Island

According to BFC Partners, developer of Empire Outlets, Asian-fusion restaurant concept Yong Kang Street will open a new location at the retail outlet complex. When it officially opens in late 2016, this will become Yong Kang Street's first New York City location. The new 3,500 s/f restaurant will be part of 100 retailers going into the one million s/f development within the St. George neighborhood on the North Shore waterfront. The restaurant, operated by Las Vegas-based HIG Management, will offer a mix of Chinese, Japanese and traditional Taiwanese cuisine, including dumplings, noodle soup fried rice, desserts and dim sum carts. In addition, the forthcoming Empire Outlets location will feature a sushi and sake bar with views of the Lower Manhattan skyline. "We are beyond excited to welcome Yong Kang Street to Empire Outlets," said Joseph Ferrara, a principal at BFC Partners with Donald Capoccia and Brandon Baron. "I have no doubt in my mind that when HIG brings this concept over to Empire Outlets that it is going to be an experience that people will want to experience time and time again. The vibe is trendy and urban, and the food is absolutely amazing. I look forward to going to their grand opening at our center." David Wu, executive chef of HIG Management, said, "Given its strategic location outside the ferry terminal, Empire Outlets will attract tourists and locals, which made it an ideal spot for our first restaurant on the East Coast. We are excited to bring our Las Vegas-style concept to the North Shore waterfront, with its stunning views of Lower Manhattan and the New York Harbor." The new leasing transaction for Yong Kang Street closely follows on the heels of Empire Outlets' successful groundbreaking ceremony at Richmond County Ballpark on April 16th. Yong Kang Street will join other national brands including Nordstrom Rack, H&M, Gap Outlet, Banana Republic Factory Store, White House Black Market, Guess Factory Store, U.S. Polo Assn., Columbia Sportswear Company, Innovation Luggage, Wilsons Leather, G.H. Bass & Co., Lids, Obey Your Body, Starbucks, Walgreens, Ghirardelli Chocolate, Haagen Dazs, Krispy Kreme, Nathan's Famous and Applebee's. BFC Partners is currently in negotiations with other prominent national retailers. Sonia Tomai of Casandra Properties procured Yong Kang Street and arranged the leasing. Located directly adjacent to the St. George Ferry Terminal, the multi-million dollar Empire Outlets project will include 340,000 s/f of prime retail space with 100 designer outlet retailers; a 190-room hotel featuring a rooftop venue with expansive waterfront views; a 1,250-space structured parking garage; and a 40,000 s/f food and beverage deck that will provide extraordinary views of the Manhattan skyline. The project will be adjacent to the New York Wheel, which will be one of the tallest observation wheels in the Western hemisphere.
MORE FROM Brokerage

Berger and Koicim of Marcus & Millichap sell 17-unit multi-family for $8.8 million

Manhattan, NY Marcus & Millichap negotiated the sale of 207 E. Fourth St., a 17-unit mixed-use multi-family property the East Village. The asset sold for $8.8 million. “This transaction underscores
READ ON THE GO
DIGITAL EDITIONS
Subscribe
Columns and Thought Leadership
Strategic pause - by Shallini Mehra and Chirag Doshi

Strategic pause - by Shallini Mehra and Chirag Doshi

Many investors are in a period of strategic pause as New York City’s mayoral race approaches. A major inflection point came with the Democratic primary victory of Zohran Mamdani, a staunch tenant advocate, with a progressive housing platform which supports rent freezes for rent
Behind the post: Why reels, stories, and shorts work for CRE (and how to use them) - by Kimberly Zar Bloorian

Behind the post: Why reels, stories, and shorts work for CRE (and how to use them) - by Kimberly Zar Bloorian

Let’s be real: if you’re still only posting photos of properties, you’re missing out. Reels, Stories, and Shorts are where attention lives, and in commercial real estate, attention is currency.
Lasting effects of eminent domain on commercial development - by Sebastian Jablonski

Lasting effects of eminent domain on commercial development - by Sebastian Jablonski

The state has the authority to seize all or part of privately owned commercial real estate for public use by the power of eminent domain. Although the state is constitutionally required to provide just compensation to the property owner, it frequently fails to account
AI comes to public relations, but be cautious, experts say - by Harry Zlokower

AI comes to public relations, but be cautious, experts say - by Harry Zlokower

Last month Bisnow scheduled the New York AI & Technology cocktail event on commercial real estate, moderated by Tal Kerret, president, Silverstein Properties, and including tech officers from Rudin Management, Silverstein Properties, structural engineering company Thornton Tomasetti and the founder of Overlay Capital Build,