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Two Downtown Deals Take REBNY Retail Awards
The transformation of Lower Manhattan’s retail scene was the common element in both of this year’s winners of the Real Estate Board of New York’s (REBNY) 21st Annual Retail Deal of the Year Awards.
Spotlighted at a REBNY cocktail reception Tuesday evening, the deals entailed bringing a 12-screen dine-in movie theater to the onetime headquarters of Chase Manhattan Bank, and a four-level fitness center to the former headquarters of the Bank of New York Mellon a few blocks south.
Recognized as the most meaningful transaction in its overall characteristics and importance to the New York City retail market, “Remember the Alamo: How a Movie Theater Lease Unlocked 200,000 SF of Retail Space Downtown at 28 Liberty” at Fosun’s 28 Liberty St. arranged by NKF’s Ross Kaplan and Jeffrey D. Roseman, was honored as The Most Significant Retail Deal of the Year.
The deal to bring Alamo Drafthouse Cinema to Manhattan marked Roseman’s fifth time winning a REBNY Retail Deal of the Year Award and Kaplan’s first. Fosun acquired 28 Liberty, then known as One Chase Manhattan Plaza, from JP Morgan Chase in 2013.
Demonstrating exceptional ingenuity and creativity, the Most Ingenious Retail Deal of the Year title was awarded to: “Deal of a Life Time: One Wall Street” at 1 Wall St. The 74,000-square-foot Life Time Fitness facility at 1 Wall, which developer Harry Macklowe converted from banking headquarters to residential condominiums, will be the fitness chain’s second in Manhattan.
Newmark RKF’s Peter Whitenack, Jaclyn Totolo and Scott Zinovoy represented Macklowe Properties in the transaction. The Dartmouth Company’s Joe Mastromonaco and Fritz Kemerling represented Life Time Fitness.
“The work of this year’s Retail Deal of the Year award-winners demonstrates the importance of innovative brick-and-mortar spaces in our constantly evolving retail market,” said REBNY President John H. Banks. “The award-winners have demonstrated effective navigation of opportunities in the retail sector, while positively contributing to the life and growth of New York businesses.”
Pictured at top, from left: Cushman & Wakefield’s Steven Soutendijk, REBNY Retail Committee co-chair; NKF’s Scott Zinovoy and Jaclyn Totolo; Dartmouth Company’s Joe Mastromonaco, and Fritz Kemerling; and Empire State Realty Trust’s Fred Posniak, Retail Committee member.
Pictured below, from left: Winning brokers Jeffrey Roseman and Scott Kaplan, with NKF colleague Drew Weiss.
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