The Real Deal New York

Posts Tagged ‘cpex real estate’

  • Chehebar-Nachmani-205-Chehebar-Segall

    From left: Ike Chehebar, Jonathan Nachmani, 205 Smith Street, Elliott Chehebar and Brian Segall

    Retail investors Jackson Group, Aurora Capital Associates and ACHS Management signed an $18.5 million contract to buy a corner parcel in Boerum Hill now occupied by a grocery store. The group plan to demolish the existing structure and replace it with a two-story retail building. [more]

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  • cpex-retail

    Ryan Condren and 130 Court Street

    Average retail rents along Court Street in Cobble Hill are three times what they were in 2009, according to a new study from commercial brokerage firm CPEX Real Estate Services.

    The trend began shortly after Trader Joe’s moved into a 4,700-square-foot bank building at 130 Court Street. At the time, about five years, rents ranged from $35 per square feet to $50 per square feet just south of Atlantic Avenue. Now, in the same area, a 1,000-square-foot space would command as much as $200 per square foot, Crain’s reported, citing CPEX. [more]

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  • Lemma-Abehsera-130-King

    From left: Aaron Lemma, Asher Abehsera, 130 Third Street (Credit: Google) and Tim King

    The Midtown-based investment and development firm LIVWRK has inked its second deal in as many weeks to purchase an industrial property on a two-block stretch of Gowanus, company CEO Asher Abehsera told The Real Deal. Like the first, this one is slated for redevelopment into retail and office space. [more]

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  • One_Brooklyn_Bridge_Setup-5

    One Brooklyn Bridge Park

    A 50,000-square-foot retail space at One Brooklyn Bridge Park, the condominium behemoth on the Brooklyn waterfront, is hitting the leasing market. [more]

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  • Aby Rosen, Jehovah's Witnesses' building, Jared Kushner

    Aby Rosen, Jehovah’s Witnesses’ building, Jared Kushner

    RFR Realty and Kushner Companies’ $375 million purchase of the Jehovah’s Witnesses buildings in DUMBO will spur the neighborhood’s role in the ongoing creation of the Brooklyn Tech Triangle, real estate executives told the Brooklyn Eagle. [more]

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  • Philip Santini oversees BHG Cleaning Services, CPEX’s latest venture.

    Philip Santini oversees BHG Cleaning Services, CPEX’s latest venture.

    From the June issue: When is a real estate firm not a real estate firm? When it’s a cleaning service, too.

    Commercial brokerage CPEX has a solution to the ups and downs of the real estate market: diversify. That’s why the three-year-old Brooklyn-based firm launched Bespoke Hospitality Group 18 months ago, which now has spawned BHG Cleaning Services, a high-end housekeeping service that should keep the company’s coffers full even during a downturn. [more]

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  • 151-Court-j-crew

    151 Court Street in Brooklyn and CPEX’s Kristina Triglia

    The owners of a Cobble Hill grocery store have offered to beat the rent that J. Crew will pay landlord Arista Real Estate Holdings under a lease the national apparel retailer signed last week, DNAinfo reported.

    J. Crew inked a 10-year net lease for the building at 151 Court Street for 2,349 square feet each on the ground floor, lower level and second floor, as The Real Deal reported. [more]

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  • From left: 151 Court Street in Brooklyn, CPEX's Kristina Triglia and Ryan Condren

    From left: 151 Court Street in Brooklyn, CPEX’s Kristina Triglia and Ryan Condren

    As part of the further transformation of retail shopping in Brooklyn, the global apparel chain J. Crew is coming to a two-story building in Cobble Hill, according to two people familiar with the transaction. [more]

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  • The Broken Angel

    One of Brooklyn’s most distinctive structures, known as the Broken Angel, has hit the market with an adjacent lot asking $4.5 million, Brownstoner reported. And CPEX Real Estate is marketing the Clinton Hill building, which had long battled foreclosure, as a conversion opportunity, rather than a development site.

    “The property comes with approved plans to convert it into an eight-unit building with ground floor duplexes,” the listing said. [more]

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  • Timothy King (top) and Brian Leary, managing partners of CPEX, and 81 Willoughby Street

    The investment sales, leasing and advisory firm CPEX Real Estate is doubling its office space in a move set for Friday to a new location in Downtown Brooklyn, the company told The Real Deal.

    The firm, headed by managing partners Timothy King and Brian Leary, is moving its headquarters to 8,000 square feet at 81 Willoughby Street, between Lawrence and Bridge streets from about 4,000 square feet at 350 Livingston Street, about six blocks apart. [more]

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  • DoBro competes for big-box retailers

    June 17, 2011 01:54PM
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    From left at the Brooklyn Real Estate Summit: Tim King of CPEX, Joe Chan of the Downtown Brooklyn Partnership and Michael Phillips of Jamestown; Michael Zazza of the Zazza Development Group and Susan Pollock of CPC Resources

    Though the price disparity in their residential markets may be narrowing,
    Brooklyn still lags far behind Manhattan in the number of big national
    retailers. That was a major discussion point at the 2011 Brooklyn Real
    Estate Summit held yesterday at St. Francis College in Downtown
    Brooklyn. Not coincidentally, commercial real estate veterans pointed
    to the very neighborhood where the conference took place, Downtown
    Brooklyn, as crucial to landing those retailers.

    “Brooklyn is too spread out to achieve national retailers in every business
    district in the borough,” said Michael Phillips, managing director at
    real estate investor Jamestown, which has stakes in Be@Schermerhorn in Downtown Brooklyn and four Manhattan buildings. But, by trumpeting Downtown Brooklyn, where retail traffic is already evident, Brooklyn
    can lure the big-box national retailer willing to be a pioneer. … [more]

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  • Marshalls eyes space in Williamsburg

    January 14, 2011 06:23PM
    alternate text
    Joseph Cayre and 242 Bedford Avenue

    Discount clothing department store Marshalls and drugstore CVS are interested in leasing space in a troubled development site in Williamsburg, once the stalled construction project is completed, several brokers said. The national chain retailers are looking at a lower-level space at 242 Bedford Avenue, just south of North 4th Street, the brokers, who asked to remain anonymous, said. The half-built site is owned by Yehuda Backer’s Williamsburg-based Backer Group, which halted construction several years ago. Instead, the parcel has only steel shells with no current construction evident.
    [more]

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  • From left: Pret A Manger is moving in on the corner of 29th Street and Seventh Avenue and Fresh & Co. is a recent addition to the neighborhood on the corner of 30th Street and Seventh Avenue

    Once thought of as a transit hub for travelers moving in and out of Penn Station, a strip of Seventh Avenue is slowly gaining retailer clout. Brokers say the stretch of retail from 29th to 34th streets is improving because of shifting real estate values, large development projects on the horizon and the influence of one property owner: Vornado Realty Trust. In the last few months, the quality of retailers in the area appears to have shifted. Fresh & Co., an upscale — primarily lunch — eatery, opened several months ago at the corner of 30th Street and Seventh Avenue. Pret A Manger, meanwhile, has plywood up on the corner of West 29th Street. And, within a couple of months after Supermac macaroni and cheese joint’s closing last November, a new vegan sit-down restaurant opened in the location on Seventh Avenue between 29th and 30th streets. And, as these high-end eateries crop up, some retail experts say that the neighborhood is turning a corner. … [more]

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  • After-school education program Kumon Learning Center is opening its ninth Brooklyn location at 8506-8508 Fourth Avenue in Bay Ridge, after signing a 1,800-square-foot lease at the building. The asking price for the space was $55 per square foot, and the five-year lease came with a five-year renewal option, according to CPEX Real Estate, which brokered the deal. Other tenants in the building, which is owned by Pappas & Pappas, include H&R Block, Dunkin Donus, New York Sports Club and Sleepy’s. The learning center expects to move in within three months. TRD

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  • From left: Timothy King of CPEX and maps showing the retail corridors covered by the CPEX report

    A new report on New York City’s traditionally tight-lipped retail leasing market lifts the curtain on pricing in more than 193 shopping districts in the five boroughs (see the full report after the jump). The survey, the first undertaken by the two-year-old Brooklyn sales and leasing firm CPEX Real Estate, gives ranges for rents based on a review of more than 1,200 leases as well as interviews with owners, appraisers and other industry sources, company principal Timothy King said. The overview is a rare glimpse into the retail leasing industry that remains far more secretive than residential and office leasing, brokers said. While brokerage firms release retail reports, for example commercial real estate firm CB Richard Ellis released a sophisticated fourth-quarter retail analysis of 10 shopping districts in Manhattan south of 86th Street this week, they do not cover all five boroughs. King said there were few surprises in the CPEX data. He said its value was as a tool for clients looking for a broad view of the market. “If a retailer comes from out of town, this is a road map to give you a logical starting point,” King said. … [more]

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  • alternate textBroker Timothy King (left) is suing Paul Massey’s firm Massey Knakal

    Despite a year passing since broker Timothy King filed a $3 million
    lawsuit accusing his former partners Paul Massey and Robert Knakal of
    Massey Knakal Realty Services of improper activities and mismanagement
    of the firm, the two sides remain at loggerheads after a hearing in
    Brooklyn court today. A judge in State Supreme Court rejected motions introduced by both
    sides and left open the possibility that she would move the dispute to
    arbitration. King filed suit June 2008 on behalf of Massey Knakal Realty of
    Brooklyn, a partnership in which he holds a 10 percent interest.
    Massey, CEO of Massey Knakal Realty Services, and Knakal, that
    company’s chairman, are 50-50 partners in Massey Knakal Realty
    Holdings, which owns 70 percent of the Brooklyn entity. King is not
    suing the other five individuals who have a 20 percent stake in the
    Brooklyn office. … [more]

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