News: Spotlight Content

Winick Realty Group leases two retail storefronts at 22 Spring Street; Rubens and Block rep ownership Mahfar

Winick Realty Group leased two retail storefronts at 22 Spring St., between Mott and Elizabeth Sts. in Nolita. The 700 s/f spaces were previously ground-floor apartments and had never housed retail before. "Landlord Samy Mahfar made a substantial investment to refurbish what had previously been an eyesore on the block," said Winick executive vice president Darrell Rubens, who represented Mahfar along with Lee Block. "He refaced the building and created retail space at the base in order to make the block and the building a better fit for the neighborhood." Rubens and Block worked with Mahfar at every step of the leasing process. While they had numerous offers on the table, ownership ultimately decided to lease the two retail spaces to Paint Box, an art gallery and custom framing store with five other Manhattan locations, and The Clay Pot, a boutique jewelry store with one location in Park Slope, Brooklyn. "Samy felt that these uses were the best fits for the neighborhood," said Rubens. "They are upscale, clean and lively new additions to the block." Winick Realty Group's Matthew Ball represented Paint Box, which is opening in October, and also assisted Rubens and Block in representing Mahfar in The Clay Pot lease. The Clay Pot, which will be open in time for the holiday season, was represented by Andrew Mendel and Lindsay Charles of Ripco.
MORE FROM Spotlight Content

Over half of Long Island towns vote to exceed the tax cap - Here’s how owners can respond - by Brad and Sean Cronin

When New York permanently adopted the 2% property tax cap more than a decade ago, many owners hoped it would finally end the relentless climb in tax bills. But in the last couple of years, that “cap” has started to look more like a speed bump. Property owners are seeing taxes increase even when an
READ ON THE GO
DIGITAL EDITIONS
Subscribe
Columns and Thought Leadership
How much power does the NYC mayor really have over real estate policy? - by Ron Cohen

How much power does the NYC mayor really have over real estate policy? - by Ron Cohen

The mayor of New York City holds significant influence over real estate policy — but not absolute legislative power. Here’s how it breaks down:

Formal Legislative Role

Limited direct lawmaking power: The NYC Council is the primary
Oldies but goodies:  The value of long-term ownership in rent-stabilized assets - by Shallini Mehra

Oldies but goodies: The value of long-term ownership in rent-stabilized assets - by Shallini Mehra

Active investors seeking rent-stabilized properties often gravitate toward buildings that have been held under long-term ownership — and for good reasons. These properties tend to be well-maintained, both physically and operationally, offering a level of stability
Properly serving a lien law Section 59 Demand - by Bret McCabe

Properly serving a lien law Section 59 Demand - by Bret McCabe

Many attorneys operating within the construction space are familiar with the provisions of New York Lien Law, which allow for the discharge of a Mechanic’s Lien in the event the lienor does not commence an action to enforce following the service of a “Section 59 Demand”.
The strategy of co-op busting in commercial real estate - by Robert Khodadadian

The strategy of co-op busting in commercial real estate - by Robert Khodadadian

In New York City’s competitive real estate market, particularly in prime neighborhoods like Midtown Manhattan, investors are constantly seeking new ways to unlock property value. One such strategy — often overlooked but