Land Rover signed a lease to occupy 25,000 square feet in an 11th Avenue showroom a developer plans to deliver next year. [more]
Posts Tagged ‘Benjamin Fox’
While high rents are cooling the retail leasing environment in the trendy Meatpacking District, years of construction have pushed rents down on Columbus Avenue in the Upper West Side and suddenly fashion outlets are flocking to the uptown thoroughfare.
Citing Massey Knakal figures, Crain’s reported that there are at least two dozen availabilities along 14th street west of Fifth Avenue. [more]
From left: Ellaina Dreifach, former director of retail for Massey Knakal, Benjamin Fox, executive vice president of retail leasing, and Paul Massey, CEO of Massey Knakal
Ellaina Dreifach, who was nabbed by Massey Knakal Realty Services from Eretz Realty earlier this year to run day-to-day operations for its new retail division, has left the firm after only nine months, she told The Real Deal today, citing an unfair commission split and uncomfortable working conditions at the New York City investment sales firm.
Benjamin Fox, executive vice president of retail leasing at Massey Knakal, brought Dreifach over to the firm in January in his effort to staff up what was then the firm’s new retail leasing division, which he heads.
Dreifach was promoted to first vice president of retail leasing from director of retail leasing at Massey Knakal in October, focusing on the Tribeca and the Financial District neighborhoods. … [more]
From left: James Avallone of DJM Realty, Benjamin Fox of Massey Knakal, Gary Alterman of RKF, Borders at 2 Penn Plaza and the Borders at 10 Columbus Circle (Columbus Circle credit: Westside Rag)
Earlier this week official word came down that Borders Group would be
closing its remaining 300 retail outlets, two of which are prized retail
spaces in Manhattan, so it should come as no surprise that suitors for
the soon-to-be available spaces at Columbus Circle and Herald Square
“I can’t say anything in detail but yes, there is lots of interest,” said
James Avallone, senior managing director of Melville, N.Y.-based DJM
Realty, which was hired to handle the liquidation and lease transfers of Borders’ 399
remaining real estate holdings in the United States. … [more]
Benjamin Fox, former president of Winick Realty, has moved to Massey Knakal Realty Services, where he is heading the firm’s retail leasing services group and is already working on a dozen projects that were referred to him by investment sales brokers, he told the Observer. “I’ve always believed that there was a synergy between retail store leasing and investment sales, in that in so much of investment sales or the sale of property, retail is a major component,” Winick said, explaining why he joined Massey. “So our ability to analyze it more closely and carefully, and to let clients know that, in addition to selling property we can also lease their properties, is something that I’ve wanted to do for a very long time.” … [more]
Massey Knakal Realty Services has tapped Anglo Irish Bank executive Garrett Thelander, who helped open the New York office of the troubled lender and grow its staff to 35, to lead its new mortgage division, it was expected to be announced today.
Thelander, 55, is once again charged with starting a new office, this time as a managing director for Massey Knakal, to hire brokers and develop the new arm, Paul Massey, company CEO, told The Real Deal.
The hiring of the bank executive comes two weeks after Massey Knakal launched a retail brokerage division, bringing in long-time retail agent Benjamin Fox for that job. At the same time, the firm has had significant defections, including a top producer for the firm, Shimon Shkury, who left with his team to open the new firm Ariel Property Advisors. … [more]
The announcement earlier this month from Massey Knakal Realty Services that it was entering
the retail leasing business brought not only a major new competitor
to New York City store rentals, but also introduced a novel
brokerage model to the notoriously fractured industry. The 22-year-old firm has grown to be one of the largest investment sales companies in the city
relying on a system that divides the New York metro area into nearly 50 geographic territories
and assigns a broker to each one. It is believed to be the only firm to use a territory system for
retail brokerage. … [more]
In his first video interview since being hired away last week from Winick Realty Group, veteran retail broker Benjamin Fox, executive vice president at Massey Knakal Realty Services, says discount giant Wal-Mart Stores might look for locations in Herald Square, near Bloomingdales in Midtown, or in Queens, among other places. Fox was speculating, and is not working with Wal-Mart in the search. In addition, Fox and Robert Knakal, chairman of Massey Knakal, told Insights from The Real Deal that property values often rise after a major chain retailer moves in.
But any opening is far off, Fox said, citing a high-level, internal Wal-Mart memo he had seen. “Everyone is getting way ahead of themselves,” he said. The Bentonville, Ark., global chain began a publicity push this month in New York City, as it tries to open its first store, after abandoning efforts twice before due to community opposition.
Benjamin Fox, president of Winick Realty Group, has been tapped to lead the new retail leasing arm of Massey Knakal, according to Crain’s. The new section of the commercial brokerage, which The Real Deal first reported last night, has also nabbed Ellaina Dreifach, president of San Francisco commercial firm Little Harbor Companies, to run day-to-day operations as director of retail leasing. Fox, who has signed on as a partner with the firm, will be responsible for growing the new department and hiring more brokers. It was not immediately clear how many new staffers the branch plans to bring on. … [more]
Barneys Co-op — set to open at 194 Atlantic Avenue in Downtown
Brooklyn Sept. 1 — is the first of several new big-box retailers
coming to the neighborhood, and a prime indicator of the borough’s
shifting demographics and [more]
Commercial brokers experiencing the worst real estate environment in a
generation got a breakfast pep talk from leading executives at a real
estate panel today but heard divergent views on when the market will
hit bottom. Matt VanBuren, senior managing director at full service commercial firm
CB Richard Ellis, provided a relatively optimistic viewpoint, holding
that the city is near the bottom of the downward cycle. “Our perspective is that we are at an inflection point, and that the
majority of the downward price movement has occurred,” he said, adding
that the overall health of financial and legal firms remained critical
to a recovery. … [more]