Winick offering West Side's chicest retail opportunity
Real Estate Weekly, May 14, 2008
Winick Realty Group has been appointed exclusive leasing agent for up to 100,000 s/f of retail space at 605 West 42nd Street, east of 11th Avenue in Manhattan's West Side.
The project is the second phase of The Moinian Group's 42no Street Development, which was designed in close coordination with The Atelier; with which it connects underground. The building will have residential and retail components. Construction started in 2007, and will be completed in 2010.
With ceiling heights of 18 feet, the retail space, ranging from 3,000 s/f to 100,000 s/f, will be located on three levels: two stories above grade and one below. The levels above grade will feature floor to ceiling glass storefronts, in addition to the all-glass architecture created by Costas Kondylis. The design was completed by Phillipe Starck.
"Featuring 30 feet between the columns, this space is perfect for a flagship showroom," commented Lori Shabtai, director of Luxury and Brand Retail, who has recently leased the retail space in The Atelier to Espace. "I am thrilled to work on the second phase of the 42nd Street development along with Frank Terzulli and Jeff Winick. This is a neighborhood I truly believe in," she added.
The Hudson Yards area, which extends from West 34th Street to 57th Street west of Eighth Avenue to the Hudson River, has been undergoing a major transformation in recent years. Residential projects like the Manhattan Plaza, Harry Macklowe's Riverwest tower, Larry Silverstein's Two River Place towers, Extell's Orion, The Dermot Company's Mosaic, The Witkoff Group's development and others make the neighborhood an underserved retail environment. A major expansion of the Jacob K. Javits Convention Center, the development of the West Side Rail Yards and the extension of the #7 subway line to the south contribute to the transformation of the area.
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