NEW YORK— RKF, the country’s leading independent real estate firm specializing in retail leasing, investment sales and consulting services, has arranged a collection of leases for all the retail space at HUBB NYC’s 136 Church Street in Tribeca. The transactions totaled 4,119 square feet and were with Verizon Wireless, Jupioca, Sufu Nail Salon and Spa, and Los Tacos No. 1.
RKF’s leasing team of Vice Chairman Ariel Schuster, Vice President Ross Berkowitz and Managing Director Andrew Stern represented HUBB NYC in all four transactions. Senior Director Raj Whadwa and Associate Marc Windheim represented Verizon Wireless. Schuster, Berkowitz and Stern also represented Jupioca and Sufu Nail Salon and Spa in these two transactions, while RKF Managing Director Neal Ohm and Eddie Mamiye (formerly of RKF) represented Los Tacos No. 1.
When HUBB NYC purchased the retail condominium, the space was configured for one tenant—Drill Fitness. RKF was hired to reposition and retenant the asset. Tasked with achieving a required price-per-square foot threshold when the firm took over the marketing of space, the RKF team developed a strategy to maximize the value of the asset by dividing spaces and leasing to multiple tenants.
“Being creative in this market is extremely important for brokers and landlords,” said Stern. “Having a landlord who was willing to consider a different approach was key in helping us lease all of the retail space while also meeting HUBB’s rent threshold requirements.”
Situated at Church and Warren Streets in Tribeca, 136 Church Street borders the Financial District and is just steps from the World Trade Center, the 9/11 Memorial & Museum, and Brookfield Place, among other Lower Manhattan tourist attractions. The new tenants each chose 136 Church Street based on the building’s excellent location, significant frontage, detailed, pre-war architecture and high ceilings.
“136 Church Street is well located in a vibrant retail market with a great mix of office and residential foot traffic,” added Stern. “Near some of New York’s most iconic destinations, the building offers retailers an outstanding opportunity for growth.”
Neighbors include Sophie’s Cuban Cuisine, Amish Market, Schnipper’s Quality Kitchen, The Vitamin Shop, Rosa Mexicano, Starbucks, Famous Famiglia Pizza, Lilly O’Brien’s, Pret A Manger, Manhattan Proper, Takahachi Bakery, Kaede, Dunkin Donuts, Gran Morsi, Equinox, Chase Bank and Citibank.
The leading independent real estate firm in North America specializing in retail leasing, investment sales and consulting services, RKF serves a broad spectrum of domestic and global clients in services ranging from national tenant and owner representation to advisory, consulting and dispositions. With approximately $40 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 Chicago, Las Vegas, Los Angeles, Miami, Northern New Jersey, San Francisco, Tokyo and Toronto. RKF operates in Canada as RKF Group Canada Realty, a retail brokerage.
RKF’s New York City office is located at 521 Fifth Avenue, Floor 7, New York, NY 10175. T: 212.599.3700. www.rkf.com