Cemusa signed a 20-year contract with the City of New York to build new bus shelters in the five boroughs. The 24,000-sf space and 18,000-sf lot in Maspeth will serve as a storage facility for the materials and vehicles.
A source close with Shalom & Zuckerbrot Realty could not provide taking rents or aggregate lease values at the property. They did divulge that rents are around $14 per sf.
"This neighborhood was particularly appealing to the client because it is central to the whole city, making it easy to transport materials to any location in New York City," says Natalie Hurwitz, managing director at S&Z. Hurwitz, along with Tim Bennett of Hunter Realty, represented Cemusa and dealt directly with the landlord.
In December 2006, Mayor Michael Bloomberg unveiled the first of 3,300 new bus shelters to be installed under the City's Coordinated Street Furniture Franchise. The 20-year contract with Cemusa, will also furnish 20 new public toilets, replace 330 newsstands and generate roughly $1.4 billion in new revenue for New York City over its lifetime, the mayor noted at the time.
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Natalie Dolce
Natalie Dolce, editor-in-chief of GlobeSt.com and GlobeSt. Real Estate Forum, is responsible for working with editorial staff, freelancers and senior management to help plan the overarching vision that encompasses GlobeSt.com, including short-term and long-term goals for the website, how content integrates through the company’s other product lines and the overall quality of content. Previously she served as national executive editor and editor of the West Coast region for GlobeSt.com and Real Estate Forum, and was responsible for coverage of news and information pertaining to that vital real estate region. Prior to moving out to the Southern California office, she was Northeast bureau chief, covering New York City for GlobeSt.com. Her background includes a stint at InStyle Magazine, and as managing editor with New York Press, an alternative weekly New York City paper. In her career, she has also covered a variety of beats for M magazine, Arthur Frommer's Budget Travel, FashionLedge.com, and Co-Ed magazine. Dolce has also freelanced for a number of publications, including MSNBC.com and Museums New York magazine.
