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Lisa Larson in The Real Deal
The Real Deal - LIL

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Real Estate Rama- CL

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Our Town - SLA

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Our Town - SLA

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Charlie Lewis in The Real Deal
The Real Deal - 710

3.10.14

Luxury Listings NYC

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A Pro Makes a Difference
Mann Report - SH1

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Maria Daou - French Article
French Article - Dao

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Maria Daou in Real Estate Weekly
REAL ESTATE WEEKLY-M

12.12.13
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Maria Daou in Real Estate Weekly
Real Estate Weekly -

12.1.13
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Shirley Hackel on therealdeal.com
The Real Deal.com-SH

11.26.13
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Marc Palermo on RealEstateRama
RealEstateRama - MJP

11.18.13
Marc Palermo on citybizlist.com
citybizlist.com - MJ

11.16.13
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Lisa Larson on Real Estate Weekly
Real Estate Weekly -

10.30.13
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Claire Groome in The Real Deal
The Real Deal - CVG

10.29.13
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Joel Moss in ResidencyNY
ResidencyNY -JEM

10.25.13
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Fame Slept Here
New York Magazine

10.7.13
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warburgrealty.com on citybizlist
warburgrealty.com on

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EVERYONE IN THE POOL!
Mann Report Resident

7.18.13
On The Market
New York Post

7.9.13
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It’s a deal. Or is it?
The ‘Shift the Goalp

6.19.13
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Charlie Lewis in The Real Deal
The Real Deal - CL1

5.1.13
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Gordon Roberts on nydailynews.com
nydailynews.com - GR

4.18.13
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Gordon Roberts in NY Daily News
NY Daily News - GR1

3.21.13
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Jay Glazer in Forbes Magazine
Forbes Magazine - JG

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Deborah Lupard in Brokers Weekly
Brokers Weekly - BDL

2.7.13
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Marc Palermo in The Real Deal
The Real Deal - MJP

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Susan Getz in The Real Deal
The Real Deal - Getz

11.26.12
Susan Abrams on gogirlfinance.com
gogirlfinance.com-SL

11.15.12
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BULLISH ON MANHATTAN
MannReport- SHI

10.10.12
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Linette Semino in The NYT
The NY Times- LBE

10.3.12
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A PLAN FOR ALL SEASONS
MannReport-SH1

9.27.12
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Linette Semino in The Real Deal
The Real Deal - LBE

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Shirley Hackel in Broker's Weekly
Broker's Weekly - SH

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Nicole Beauchamp on CBS2 News!
Nicole Beauchamp on

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Bonnie Chajet on citybizlist.com
citybizlist.com - BS

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In todays Daily Broadsheet
Daily Broadsheet

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20 Pine in The New York Post
NY Post - 20 Pine

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20 Pine on Multi-Housing News
20 Pine - MHN online

12.2.11
20 Pine on IBTimes.com
20 Pine - IBTimes.co

12.1.11
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Fred Peters on ynetnews.com
ynetnews.com-FWP

11.21.11
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Mann Report - A FINE ROMANCE
Mann Report - SH1

8.31.11
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20 Pine on curbed.com
curbed.com - 20 Pine

8.15.11
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20 Pine in The New York Times
NY Times - 20 Pine

8.3.11
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20 Pine in The New York Times
The NY Times - 20 PI

2.22.11
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Selling New York in Crain's
Crain - Selling New

2.10.11
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20 Pine on nymag.com
nymag.com - 20 PINE

2.4.11
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20 Pine on wsj.com
wsj.com-20 PINE

2.1.11
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Fred Peters in The Real Deal
The Real Deal-FWP

1.1.11
12.14.10
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A Kindle Gets You Only So Far
New York Magazine- R

10.20.10
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9.20.10
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9.14.10
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8.24.10
Big-Time Buildings Broker Darcy
NY Oberser - HBK-FWP

8.13.10
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8.4.10
8.2.10
8.1.10
8.1.10
8.1.10
7.26.10
7.23.10
7.20.10
7.16.10
Fred Peters on urbandigs.com
urbandigs.com-FWP

7.15.10
7.15.10
7.15.10
7.9.10
7.2.10
6.25.10
Some Condos Avoid Shoals
Wall Street Journal

6.25.10
6.23.10
6.21.10
6.20.10
6.18.10
6.15.10
6.10.10
6.7.10
6.2.10
Deborah Komarow in The Real Dea
The Real Deal - Koma

6.1.10
5.27.10
Fred Peters on Brownstoner.com
Brownstone.com-FWP

5.27.10
Fred Peters Quoted in WSJ
Wall Street Journal

5.24.10
5.24.10
5.23.10
5.23.10
5.16.10
5.9.10
warburgrealty.com on NYinc
NYINC - warburgrealt

5.9.10
5.7.10
5.7.10
5.6.10
Fred Peters in Brokers Weekly
Brokers Weekly - FWP

5.1.10
4.29.10
4.29.10
4.28.10
4.26.10
4.22.10
4.16.10
Joél Moss in The Real Deal
The Real Deal - JEM

4.12.10
Fred Peters on therealdeal.com
therealdeal.com-FWP

4.12.10
4.12.10
4.9.10
4.9.10
4.6.10
4.2.10
Nicole Beauchamp in Inman News
Inman News-Nocile Be

4.2.10
4.2.10
4.2.10
4.1.10
4.1.10
Mann Report -GROUND LEASE CO-OPS
The Mann Report - SH

3.29.10
3.29.10
Deborah Lupard on Tribeca Citizen
Tribeca Citizen - DB

3.25.10
3.19.10
3.19.10
3.17.10
3.17.10
3.17.10
3.10.10
3.10.10
3.9.10
3.5.10
3.3.10
3.3.10
3.3.10
3.3.10
3.1.10
3.1.10
VALUE PLUS
Mann Report- SH1

2.25.10
Ellington on the Park In Harlem
harlemworldblog.word

2.24.10
2.24.10
2.24.10
2.24.10
2.17.10
2.7.10
2.5.10
2.1.10
STABILITY BECKONS IN 2010
Mann Report - SH1

1.28.10
1.27.10
1.22.10
1.22.10
1.21.10
Fred Peters on bisnow.com
bisnow.com - FWP

1.21.10
Fred Peters on bisnow.com
bisnow.com - FWP

1.21.10
1.21.10
Fred Peters on globestreet.com
globestreet.com - FW

1.21.10
1.20.10
Fred Peters in Real Estate Weekly
Real Estate Weekly -

1.20.10
REBNY RELEASE
REBNY - FWP

1.20.10
1.10.10
Around me in The New York Times
AROUND ME in The NY

1.6.10
1.6.10
Fred Peters on GlobeSt.com
GlobeSt.com - FWP

1.6.10
Fred Peters on wsj.com
Wall Street Journal

1.6.10
Fred Peters in The Real Deal
The Real Deal - FWP

12.9.09
12.8.09
12.6.09
12.4.09
12.3.09
12.2.09
Around me in The Real Deal
The Real Deal - Arou

12.2.09
Around me on curbed!
Around me on Curbed

12.1.09
11.18.09
11.13.09
11.5.09
11.3.09
11.3.09
Buyers’ Brokers In Demand
The Real Deal - HBK

10.25.09
The Hunt - Trading Noices
NY Times - Waltrine

10.9.09
10.1.09
9.21.09
9.20.09
9.10.09
9.1.09
9.1.09
8.27.09
8.27.09
8.3.09
8.2.09
Mitchel Askinas in NYTimes
NY Times - Askinas

8.1.09
THE BUYER’S ADVANTAGE
Mann Report 8.09 SH1

7.25.09
To Buy or To Rent A Home
NY1.com-A. Latigona

7.24.09
7.19.09
7.17.09
7.16.09
7.16.09
7.15.09
7.15.09
7.15.09
7.14.09
7.8.09
6.26.09
6.24.09
6.24.09
6.17.09
6.17.09
6.11.09
6.11.09
6.5.09
6.1.09
5.26.09
5.15.09
5.13.09
Market Watch: We Love U
curbed.com - FWP

5.11.09
5.1.09
ON THE REBOUND
Mann Report - SH1

4.29.09
4.26.09
4.23.09
NY Post -- EARTH DAY EVERY DAY
NY Post-Hartstein-Ch

4.22.09
4.22.09
4.7.09
NY Magazine - Triple Assessment
NY Magazine - Rosent

4.1.09
4.1.09
THE RESALE GLASS IS HALF FULL
Mann Report April09-

3.22.09
3.7.09
3.1.09
IF THE SHOE FITS…
Mann Report-SH1

2.25.09
2.23.09
2.20.09
2.19.09
NY Post-103 Greene-$5.8 MILLION
NY Post - 103 Greene

2.18.09
2.17.09
2.11.09
Done Deals
Brokers Weekly

2.1.09
2.1.09
1.23.09
Every Man for Himself
NY Times Big Deal- R

1.16.09
She Fixes the Stoop to Conquer
NYTimes- Big Deal-RJ

1.14.09
1.1.09
January 2009 -- Tribeca Trib
Tribeca Trib - KAG

1.1.09
12.2.08
12.2.08
12.1.08
Year End Musings
Mann Report -SH1

11.22.08
A Picture-Perfect Place
NYTHunt-SR2-RHD

11.17.08
11.1.08
10.30.08
NY Post - Just Sold
NY Post - JBT

10.1.08
10.1.08
THE FOURTH QUARTER CHALLENGE
MannReport-Hackel

9.21.08
Bargains at Every Price
NYMagazine-Hausman

9.19.08
9.1.08
Trying Times in Tribeca
The Real-Deal-kag-jl

9.1.08
The Ivy
The Real Deal-IVY

9.1.08
STABILITY FOR SEPTEMBER
Mann Report - SH1

8.21.08
DREAM HOMES
NY Post-HOME - WG1

8.18.08
8.1.08
When Comps Fall Short
The Real Deal - FWP

8.1.08
8.1.08
Summer Sales Slower Than Usual
The Real Deal-FPW-SW

8.1.08
7.22.08
7.17.08
7.1.08
TIMING MATTERS
Mann Report - SH1

6.29.08
New Is Nifty, Old Is Gold
NY Times-Schiller

6.26.08
NYP HOMES
NYP Homes-SOG-SS3

6.26.08
6.9.08
6.8.08
Start in Neutral
New Yor Times-LK1/TF

6.1.08
6.1.08
Residential Deals
The Real Deal-DL1

6.1.08
6.1.08
Real Deal Webcast
The Real Deal-CL1

6.1.08
5.29.08
Blooming Buildings
The NY Sun-Flowerbox

5.25.08
On the Market
The NY Times-JRC-J

5.19.08
5.19.08
5.11.08
Selling Isn't Poetry
The NY Times-MS1/CS2

5.1.08
5.1.08
5.1.08
Top Residential Firms 2008
The Real Deal-CS2-MS

5.1.08
IS THE GLASS HALF FULL?
Mann Report-SH1

4.10.08
WHAT'S HOT OR NOT
New York Post - RJS

4.9.08
School shows its PRIDE in Rubin
Brokers Weekly-Rubin

4.1.08
Medal of Honor Awarded
FIABCI-Foxworth

4.1.08
CHARTING TROUBLED WATERS
Mann Report-SH1

3.23.08
Who Asked You?
The NY Times-STT

3.16.08
Triple Assessment
NY Magazine-Abrams

3.2.08
3.1.08
2.7.08
NY Post Dream Homes - 800 Park
NYPOST Dream Homes

2.7.08
2.7.08
2.1.08
Residential Deals - Manhattan
The Real Deal-Schill

2.1.08
RAISING THE BAR
Mann Report SH1

1.1.08
12.6.07
12.1.07
Year End Pop Quiz
The Mann Report-SH1

11.15.07
Lofty Sights Set for Harlem
Mann Report - POKO

11.15.07
WHEN ONLY A MANSION WILL DO
NYPost - 1 Gracie

11.7.07
The borough in a bubble
The Real Deal-FWP

11.7.07
11.7.07
11.4.07
Real Estate Showcase: Downtown
NY Magazine-Trichter

10.8.07
10.8.07
10.8.07
10.7.07
10.1.07
9.28.07
9.1.07
8.28.07
Open Season
NY Post-LJL

8.19.07
8.12.07
Financial District One Bedroom
The NY Times-Lupard

8.12.07
8.12.07
8.5.07
Living In: Central Harlem
The NYTimes-LV1-ES1

8.1.07
8.1.07
7.2.07
320 Central Park West
NY Magazine-Hackel

6.6.07
6.1.07
5.31.07
5.20.07
5.1.07
Top Residential Firms 2007
The Real Deal-RJS

5.1.07
Top Residential Firms 2007
The Real Deal-AJ1-AS

5.1.07
5.1.07
Top Residential Firms 2007
Real Deal-LTS-LSR

5.1.07
Top Residential Firms 2007
The Real Deal-CS2

5.1.07
5.1.07
Q & A: Going for brokerage
The Real Deal -- FWP

5.1.07
5.1.07
5.1.07
Sell Me: Kitchen & Bath
Multi-Housing News

4.30.07
4.26.07
4.16.07
4.10.07
4.1.07
3.28.07
2007 Residential Rising Stars.
Real Estate Weekly-R

3.8.07
3.1.07
Moving Into Murray Hill
The Cooperator-BSR

3.1.07
3.1.07
3.1.07
3.1.07
3.1.07
2.26.07
2.19.07
2.19.07
2.19.07
2.18.07
2.18.07
The Psychology of Pricing
The New York Times R

2.7.07
2.1.07
2.1.07
New York City Multifamily
Rel Estate Business

2.1.07
2.1.07
1.21.07
Model Apartment
NY Observer-Wening

1.7.07
1.1.07
1.1.07
12.3.06
11.1.06
10.16.06
10.1.06
10.1.06
Profile: Kate Meckler
The Mann Report

9.20.06
9.18.06
The September Factor
New York Magazine

9.10.06
Living In: East Harlem
The New York Times

9.10.06
When a Deal Turns Sour
The New York Times

9.6.06
9.1.06
Warburg Realty Relocates
New York Living

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The New York TImes

August 1, 2004

Greenwich Village: Growing Appeal of Specialty Food Stores

By John Holusha

MURRAY'S CHEESE SHOP, a fixture in Greenwich Village for more than half a century, is planning to move this fall from its present 1,000 square feet at 257 Bleecker Street, at Cornelia Street, across the street into part of a 6,700-square-foot retail condominium in a residential building at 252 Bleecker at Leroy Street.

The larger store will provide Murray's operators with more space to spread out products that are now stacked practically to the ceiling of the single-aisle space that becomes crowded when more than a few customers are shopping. The layout of the new store has not yet been designed.

The move comes as managers of both residential and commercial buildings are increasingly receptive to renting or selling retail space to specialty food stores, as opposed to ordinary supermarkets or delis. The specialty stores sell higher-priced merchandise and can pay more in rents. And in part because landlords are writing leases more tightly, they tend to have fewer problems with the noise, garbage, odors and vermin that are associated with food markets.

"Landlords are looking for high-end, specialty food stores because they have better credit and higher-quality products," said Laura Pomerantz, a principal at PBS Realty Advisors, a commercial brokerage company. "They want stores like Whole Foods and Dean & DeLuca."

Stephen Klym, managing director of Warburg Realty Partnership, a residential brokerage, said, "Gourmet is the key word — it has to be like shopping on Madison Avenue." While grocery stores in general are not considered highly desirable, he said, the upscale Whole Foods stores in the basement of the Time-Warner Center at Columbus Circle and in the Chelsea Mercantile building on Seventh Avenue at 24th Street, part of an international chain featuring natural food, are considered desirable amenities, rather then problems.

Managers of commercial buildings like to install attractive food stores in retail spaces because they can afford higher rents than some other kinds of stores and because they are a convenient service for tenants, said Benjamin Fox, a partner in Newmark New Spectrum Retail, a brokerage company.

"Look at the new Reuters Building in Times Square," he said. "They have a Europa Cafe on the corner of 43rd Street and Broadway." He said food stores in office buildings often have arrangements to cater events held by tenants on the floors above.

To avoid cooking odors, Mr. Fox said, building operators often choose stores where the cooking is done at a central commissary and shipped to the retail outlet, where, if necessary, items can be rewarmed in microwave ovens. "That way you do not have a requirement for a vent," he said.

Indeed, Mr. Fox said, landlords in general have learned to write leases for food stores to avoid problems by limiting times when products can be delivered, requiring that garbage be refrigerated to curb vermin problems and specifying the types of signs they can post in their windows.

Typical grocery store signs advertising weekly specials seem unattractive to residents in high-end buildings, he said. "That's why a lot of co-ops tried to get rid of food stores, to enhance the value of their apartments upstairs," he said. He noted that 25 years ago most stores could be operated just about any way the owners wanted. Today, he said, "there are restrictions on things nobody thought about back then."

Still, a specialty food store, a bakery or a coffee shop can help to strengthen the appeal of a neighborhood, particularly one that was predominately commercial or industrial in the past, Ms. Pomerantz said. "The right store can be a catalyst for a neighborhood," she said. "It services the neighborhood and attracts other services."

Murray's Cheese Shop believes that its new site, which it expects to open this fall, will help to improve the area, said Julie McAskin, the store's director of marketing. Robert Kaufelt, the store's owner, paid about $3 million for the 6,700-square-food retail condominium, which was previously a grocery store, brokers said.
 
Besides its Greenwich Village store, Murray's has a branch in Grand Central Terminal and wholesale operations supplying restaurants and hotels in the city. The newly acquired property on Bleecker Street "is too much space for us," Ms. McAskin said.

"We will divide the space and look for tenants," she said. There will probably be one or two separate stores in addition to Murray's, and they may be different types of specialty food. "We want to enhance the neighborhood," she said.

Gary Trock, a broker with CB Richard Ellis Retail Services, who helped to arrange the Murray's transaction, said the developers who usually control the retail space in a residential building have to balance the value of having an attractive food retailer on the site against the potential problems as they try to sell the balance of the apartments in a building. "Most condos and co-ops now allow food," he said.

Owners of office buildings particularly treasure their retail spaces, brokers report. Not only are rentals usually several times as high per square foot as office space, but the retailers foot the entire cost of building out their stores. Typically, owners give tenants a period of free rent while the interior construction takes place and they make a cash contribution to the cost of building the offices.

"With retail, the landlords do not give build-out money," Joanne Podell, a senior director of Cushman & Wakefield, a large brokerage and services company. "They may get some free time, but the space is delivered as is."

But because the first floor retail spaces are often the public face of a property, landlords tend to be more selective of their retail tenants, she added. While office space usually goes to the highest bidder, landlords will sometimes accept less than maximum rent in order to install a retail tenant considered desirable.

Indeed, retailers themselves sometimes go to great efforts to preserve an area's atmosphere. About 15 years ago, retailers on Fifth Avenue in the 40's got city zoning changes to ban bank branches and airline ticket offices, arguing that they detracted from the shopping experience, Mr. Fox noted. "There are a few banks that were grandfathered in and, as far as I know, no airline offices," he said.

Upscale speciality food stores have become "a huge draw" in a city where time is always short, Mr. Trock said. Besides Whole Foods, he said, Dean & DeLuca and Citarella are also particularly in demand.

As for Murray's, he said, it will be "a beautiful store" that will offer wine and cheese tastings to lure customers.

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