Joseph Moinian is working to cobble together an 84,000-square-foot retail space at the base of the office building at 535-545 Fifth Ave. that will run the full 200-foot long block between East 44th and 45th streets — and has appointed Winick Realty Group to lease what has been dubbed the “Flagship on Fifth.”

Jeff Winick, CEO of Winick, is leading the leasing team that includes Michael Gleicher and Melinda Miller.

Winick declined comment on the asking rent or on the state of current tenants, which include Michael J. Fina and Duane Reade. The Barami space is already being marketed by Winick.

Eventually, the sprawling space will include a selling lower level, a ground floor, second floor and mezzanine areas. But with some big boxes downsizing into jewel boxes, the brokers’ backup plan includes the building being reapportioned into three availabilities.

A 30,000-square-foot space on the building’s north corner has 225 feet of double height, wrap-around frontage that can support amazingly large signage.

Midblock, with an address of 537 Fifth Ave., an 8,700-square-foot triplex can become the “Townhouse on Fifth.” And at the south corner, there is 45,000 square feet of multi-level selling space.

The Fifth Avenue area north of 42nd Street has been popping with Tommy Bahama, Zara, H&M, Joe Fresh, Urban Outfitters and other retailers claiming storefronts.

Across the avenue, Joe Sitt intends to build a 75,000-square-foot glass box for a hoped-for seven-story retailer at West 43rd Street while Crown is putting together a nearly 50,000-square-foot space at 530 Fifth Ave. with a rent of $1,500 a square foot, thus pushing rents upwards from the Real Estate Board of New York’s fall pricing range of $500 to $1,000 a square foot.


The rush for retail condos has SoHo sources blabbing that Zar Properties is in contract to purchase one at 105-113 Wooster St., between Spring and Prince streets, for just under $39 million.

The 35,000-square-foot commercial unit with 100 feet of frontage has a four-story Room & Board as the tenant for another seven years on what is now an under-market lease.

The off-market deal with the original New Mexico-based sponsor will be closing at the end of the month, sources said, while David Zar of Zar Properties declined comment.


At a luncheon last week, developer Edward I. Minskoff told us that he is putting up $120 million of his own dough to develop 51 Astor Place.

He also said he was close to a deal with a school for a 55,000-square-foot second-floor lease that Cooper Union, which sold him the site, required for educational space and has dibs on in the future.

Now, Daniel Geiger of the Commercial Observer has revealed the not-yet-done deal to be with the Hult International Business School, which already has locations in Boston, San Francisco, Shanghai, London and Dubai.


The Rudins’ 641 Lexington Ave. is getting healthier. North Shore-Long Island Jewish Health System has leased an 11,076-square-foot pre-built on a piece of the second floor, where it will house an IT division for the next 10 years.

Brian Waterman and Brent Ozarowski of Newmark Grubb Knight Frank represented NS-LIJH in the deal.

Additionally, a brand new 6,512-square-foot eco-friendly buildout for New York Presbyterian Hospital on the 25th floor will house its Minimally Invasive New Technological (MINT) program.

Ira Schuman, David Carlos and Kurt Handschumacher of Studley represented that hospital in the 15-year leasing transaction.

Robert Steinman represented Rudin Management in-house, which had an asking rent of $55 a square foot for the tower.


Community National Bank will open its first Manhattan branch at 12 E. 52nd St. off Fifth Ave. The Long Island-based bank signed a 2,404 square-foot, ground-floor retail lease.

Paul Davidson and Michael Moorin of Newmark Grubb Knight Frank repped the tenant, while George T. Constantin, CEO of Heritage Realty Services, together with Al Lawrence and Peter Zimmar, represented the ownership of the seven-story townhouse, which had an asking rent of $170 a square foot.


A former eight-story, 45,032-square-foot Hertz garage building in the West Village is on the market as a conversion opportunity for hoteliers, apartments or offices. Pricing is expected to be well over $600 a square foot, thus heading north of $30 million.

Sources said many of those looking are plotting four to five apartments on each of the 5,441-square-foot floors, and expect to move the current, two car-carrying elevators to a side core on a non-windowed wall. The ground floor is a bit bigger, with 5,800 square feet.

Steve Hornstock, Alan Cohen and Adam Maxson of ABS Partners have the listing for 12 E. 13th St., which is around the corner from the newest New School project.

“It’s rare that such a well-located property offering vacant possession becomes available,” said Hornstock.

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