New York & Tri-State + Uptown/Bronx + Retail | January 19, 2023

Manhattan Property Group negotiated a lease at Youngwoo's Washington Heights development for Banreservas' second bank branch in the U.S.

Banreservas Leases Bank Branch at Youngwoo’s Washington Heights Project

Manhattan Property Group has completed the leasing of a 2,237-square-foot, commercial retail space at Youngwoo & Associates’ Radio Tower & Hotel in Washington Heights on behalf of its client Banreservas (Banco de Reservas de la Republica Dominicana). This lease marks the second U.S. retail banking outpost for the financial firm, joining one in Miami.

Roberto Guilbet, principal of Manhattan Property Group, represented Banreservas. Of the Radio Tower & Hotel property, Guilbet said, “This was first on our client’s wish list, and a must have at all costs. We are beyond excited & grateful to have played a small part in the process.” He added that the ground-floor retail space “establishes our client’s presence and makes a loud statement in the community it serves.”

Newmark executive managing directors Justin DiMare and Matt Leon and director Chris Ventura represented Youngwoo & Associates in leasing negotiations.

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About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 15-20 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

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