RKF to Market and Lease Retail Portion of Proposed Mixed-Use Development at 250 East 57th Street
11/13/2006
11/13/2006
NEW YORK, NY — Robert K. Futterman & Associates, LLC (RKF), the nation’s leading independent real estate firm specializing in retail leasing, investment sales and consulting services, has been tapped by World-Wide Group to market and lease the retail portion of a newly proposed mixed-use project at 250 East 57th Street. In a unique public-private partnership, The World-Wide Group will replace two existing city schools and provide new facilities. The project will transform one of the most important intersections in Manhattan’s Upper East Side into a lively, pedestrian friendly gateway.
RKF Chairman and CEO Robert K. Futterman and Managing Director Ariel Schuster will be the exclusive leasing agents.
World-Wide Group was selected by the Education Construction Fund to redevelop the city-owned property on the southwest corner of 57th Street and Second Avenue, which currently houses the High School of Art and Design and Public School 59; and will be responsible for building two new expanded schools as part of the $500 million development project. World-Wide Group will create a one-million-square-foot, mixed-use facility at the site, including 170,000 square feet of retail, a 59-story residential tower with 320 new rental and condominium units, and the two new schools.
“We are honored to work with World-Wide on this important project that will revitalize the 57th Street retail landscape and potential retailers will be drawn to the high traffic the area generates. Once complete this project will provide residents with much needed services, that until now have not been provided,” said Futterman.
The development will take place in two phases. The first phase includes the development and construction of the two new schools, while the second phase will include the design and construction of the mixed-use development. The development of the 170,000 square feet of retail space on four floors will occur during both phases of development.
The country's leading independent real estate firm specializing in retail leasing and investment sales, Robert K. Futterman & Associates LLC (RKF) serves a broad spectrum of domestic and global clients in services ranging from national tenant and owner representation to advisory, consulting and disposition. With over $4 billion in aggregate real estate transactions to its credit, RKF has been responsible for identifying scores of real estate opportunities throughout the United States for leading American and international chains, retailers, developers and institutional clients. RKF is headquartered in New York with offices in Las Vegas, Los Angeles and San Francisco.
World-Wide Group:
In the last decade, World-Wide has developed more than 1,800 Manhattan apartments in excess of two million square feet, making it one of Manhattan’s largest residential developers. The company’s residential projects include 50 Murray Street, 53 Park Place, 88 Greenwich Street and the Milan, a for-sale condominium property at 55th Street and Second Avenue. In addition, World-Wide has developed large-scale retail projects in Queens and in Framingham, Massachusetts.
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RKF Chairman and CEO Robert K. Futterman and Managing Director Ariel Schuster will be the exclusive leasing agents.
World-Wide Group was selected by the Education Construction Fund to redevelop the city-owned property on the southwest corner of 57th Street and Second Avenue, which currently houses the High School of Art and Design and Public School 59; and will be responsible for building two new expanded schools as part of the $500 million development project. World-Wide Group will create a one-million-square-foot, mixed-use facility at the site, including 170,000 square feet of retail, a 59-story residential tower with 320 new rental and condominium units, and the two new schools.
“We are honored to work with World-Wide on this important project that will revitalize the 57th Street retail landscape and potential retailers will be drawn to the high traffic the area generates. Once complete this project will provide residents with much needed services, that until now have not been provided,” said Futterman.
The development will take place in two phases. The first phase includes the development and construction of the two new schools, while the second phase will include the design and construction of the mixed-use development. The development of the 170,000 square feet of retail space on four floors will occur during both phases of development.
The country's leading independent real estate firm specializing in retail leasing and investment sales, Robert K. Futterman & Associates LLC (RKF) serves a broad spectrum of domestic and global clients in services ranging from national tenant and owner representation to advisory, consulting and disposition. With over $4 billion in aggregate real estate transactions to its credit, RKF has been responsible for identifying scores of real estate opportunities throughout the United States for leading American and international chains, retailers, developers and institutional clients. RKF is headquartered in New York with offices in Las Vegas, Los Angeles and San Francisco.
World-Wide Group:
In the last decade, World-Wide has developed more than 1,800 Manhattan apartments in excess of two million square feet, making it one of Manhattan’s largest residential developers. The company’s residential projects include 50 Murray Street, 53 Park Place, 88 Greenwich Street and the Milan, a for-sale condominium property at 55th Street and Second Avenue. In addition, World-Wide has developed large-scale retail projects in Queens and in Framingham, Massachusetts.
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