Durst Organization hires Winick Realty to lease Midtown East retail spaces
Outsourcing of brokerage duties may augur new partnership for firms
The Durst Organization is handing off leasing for some retail properties on the East Side of Manhattan to Winick Realty Group, which could augur a new relationship between the firms, The Real Deal has learned.
The landlord, which previously handled leasing duties in-house, made Winick the leasing agent for retail spaces in two Midtown East office towers: 202 East 42nd Street and 655 Third Avenue, where Winick has its headquarters.
The 2,115-square-foot Third Avenue space, between 41st and 42nd streets, is situated between retailer the Gap and a Starbucks, and the 42nd Street space, just around the corner from the Winick digs, offers a 1,620-square-foot ground floor and a 1,130-square-foot second floor space. That building is located next door to the Westin New York Grand Central, adding tourist foot traffic to the already well-traveled 42nd Street retail strip.
“If these deals go well, we are looking to expand our partnership with Winick in the future,” a spokesperson for Durst told The Real Deal. Durst’s three million square foot portfolio of office space would potentially present formidable retail leasing assignments.
Winick president Steven Baker and executive vice president Kenneth Hochhauser are marketing the properties.
“We live and work here, so it is no surprise to us,” that the area gets substantial foot traffic from tourists, Hochhauser said in a statement to TRD. If the Midtown East rezoning proposal goes through, the area could also benefit from an increased number of local workers.
Rents were not disclosed for either building. At 202 42nd Street, Costar shows only a year and eight months remain on tenant Pax Wholesome Foods’ lease.
“We are excited to partner with Winick on this project,” Tom Bow, director of leasing for Durst, said in the statement.