Real Estate: The Current Landscape for Retail | Coffee Retail Summit
Ariel Schuster discussed current trends in the market, the impact of the pandemic in commercial real estate, and new opportunities for retail tenants.
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About the Presenter
Ariel Schuster, Vice Chairman
Newmark Knight Frank
Ariel Schuster brings 20 years of retail real estate experience to his role as a vice chairman with Newmark Knight Frank. He specializes in both landlord and tenant representation.
Mr. Schuster’s roster of landlord clients includes such prestigious owners as Brookfield, Edward J. Minskoff Equities, Extell Development, The LeFrak Organization, Related Companies, SL Realty Corp. and The Winter Organization, among others. He represented SL Green in most of the REIT’s recent high-profile retail leases, including Nike’s global flagship at 650 Fifth Avenue, Line & Friends at 1515 Broadway and Coty’s first-ever flagship at 719 Seventh Avenue in Times Square. He masterfully negotiated retail leases totaling approximately 100,000 square feet at four of Related Companies’ premier New York City assets and represented Edward J. Minskoff Equities on the 170,000-square-foot retail component at 270 Greenwich Street. On behalf of The Winter Organization, Mr. Schuster arranged 58 retail transactions, the most significant of which were leases with global retail giant H&M at 111 Fifth Avenue and Madewell at 115 Fifth Avenue.
Recently, Mr. Schuster arranged a string of luxury retail leases, including Santoni’s U.S. flagship at 762 Madison Avenue and A. Lange & Sohne’s flagship at 785 Madison Avenue. Representing ownership at 935 Madison Avenue, he set the record rents achieved on Madison Avenue north of 72nd Street when he secured Aquazzura, Golden Goose, Joe Bananas, Moynat and Nespresso. Mr. Schuster devotes an equal amount of his practice to the real estate needs of tenants, including Aritzia, Camper, Gap brands (Athleta, Banana Republic, Gap, Intermix, and Old Navy), Itsu, La Colombe, PetSmart, Pret A Manger and Vineyard Vines. As the Gap brands’ representative in the New York metro area, Mr. Schuster has been responsible for 115 transactions on the client’s behalf, including the leasing of 81,000 square feet for the Gap and Old Navy global flagships located at 1530 Broadway, in the heart of Times Square.
Find all of the presentations from this event in the freely available Coffee Retail Summit Resource Library or learn more about our upcoming Coffee Retail Summits at retail.sca.coffee.