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Joe Sitt scores 3 of NYC’s top 10 August retail leases

Brooklyn, and a member of its real estate royalty, dominates monthly ranking

Thor Equities Lands 3 of NYC’s Top 10 August Retail Leases
From left: Joseph Moinian, Joe Sitt and Raymond M Chera; 36 Park Row, 169 Mercer Street and 523 Fulton Street (Getty, Google Maps, Thor Equities, LoopNet)

Brooklyn had a strong showing in last month’s largest retail leases in New York City, securing five of the 10 slots, including No. 1. The borough also produced the most prevalent landlord on the list, Joseph Sitt, who hails from Gravesend and is bidding to put a casino and entertainment complex on Coney Island, his old stomping grounds.

Tenants on the August list included everything from grocery stores to fashion houses to bathhouses, as retail continued to emerge as an unlikely bright spot in an industry beset by slumping offices and an increasingly distressed multifamily sector.

1) The Fresh Grocer | 523 Fulton Street | Brooklyn Heights | 21,000 sf

The New Jersey-based grocery store signed a new lease in Brooklyn. Jeffrey Lopez and Steve Lorenzo of Lee & Associates NYC represented the tenant while Ian Lerner of Cushman & Wakefield represented the landlord, Raymond M Chera’s RMC Assets.

2) Tailor Public House | 505 Eighth Avenue | Hudson Yards | 12,600 sf

The multi-floor tavern signed a lease extension. Jeffrey Gural’s GFP Real Estate represented both the tenant and the landlord in-house.

3) Changing Tomorrow Childcare Academy | 180 Livingston Street | Brooklyn Heights | 10,000 sf

The preschool inked a 15-year lease with an option to extend for an additional five. The building’s landlord is Sitt’s Thor Equities.

4) Bucatini | 2 East 45th Street | Grand Central — 9,000 sf

The tenant inked a lease. James Famularo of Meridian Retail Leasing represented both the tenant and the landlord, the Moinian Group.

5) Flatbush Adult Daycare | 885 Flatbush Avenue | Flatbush | 8,000 sf

The adult daycare center signed a 10-year lease. Rene Hamilton of Helmsley Spear represented the tenant while Timothy King of SVN CPEX Real Estate represented the landlord, Madison Realty.

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6) Othership | 25 Kent Avenue | Williamsburg | 6,168 sf

The bathhouse inked a lease. Cassie Durand and Aylin Gucalp of CBRE represented the tenant while a three-member Newmark team including Neal Ohm and Caleb Petersen represented the landlord, Rubenstein Partners.

7) Caffè Panna | 34 Norman Avenue | Greenpoint | 4,700 sf

The ice cream shop inked a lease for its second NYC location. A three-member Atlantic Retail team including Evan Clements and Austin Knief represented the landlord, Orin Portnoy.

7) 375 Showroom | 76 Wooster Street | Soho | 4,700 sf

The streetwear store signed a lease for a new showroom. Josh Augenbaum and Murray Mizrachi of Augenbaum Realty represented both the tenant and the landlord, John Pasquale.

8) 45R | 169 Mercer Street | Soho | 4,500 sf

The upscale Japanese fashion brand inked a lease with landlord Thor Equities.

9) AllSaints | 402 West 13th Street | Meatpacking District | 3,775 sf

The clothing retailer inked a lease. Arian Ahmadian of Maddox Retail represented the tenant while Stuart Romanoff of Romanoff Equities represented the landlord in-house.

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10) Mitsuki Japanese Market | 36 Park Row | Financial District | 2,400 sf

The market signed a lease. The building’s landlord is Thor Equities, giving Sitt’s firm three spots in August’s top 10.

Tags
Brooklyn RetailMoinian GroupNYC RetailRetail LeasingThor Equities