NEW YORK CITY-Eastern Consolidated has expanded its roster of client services by launching a new retail leasing division. The new department, which specializes in both tenant and landlord representation, will complement its retail investment sales division, giving clients access to retail listings for stores, bars, lounges, and restaurants throughout the five boroughs.
Members of the new retail division already have completed leases on behalf of the firm for some of the city's popular restaurants and clubs, including 1Oak Meatpacking at 453 W. 17tth Street, Goldbar at 389 Broome St. and Markt in Chelsea, at 676 Sixth Avenue.
“The retail market, particularly luxury retail, is one of the strongest sectors in New York City, and there are natural synergies between sales and leasing,” says Daun Paris, president of Eastern Consolidated. “We felt it was the right time to expand our scope of services.”
Eight of retail's 10 submarkets experienced rent growth last year, Cushman & Wakefield revealed in a fourth quarter briefing earlier this week.
The newly hired brokers for the division are all retail industry insiders who bring a wide range of experience, business contacts and existing client relationships to the new retail division, according to an announcement.
James Famularo, senior director, is said to be considered one of the top deal makers in New York City real estate and is described by real estate insiders as the top commercial restaurant broker in the city. Prior to Eastern Consolidated, Famularo was senior executive managing director at New York Commercial Real Estate Services, where he won the highest grossing award for five years.
Senior Director Alexander Hill has completed transactions totaling more than 300,000 square-feet of retail space, negotiating on behalf of landlords and tenants. In the last three years he has closed more deals on Seventh avenue than any other retail broker. His clients include the Related Cos., Atlantic Development, the Red Apple Group and others. Previously, Hill was affiliated with Winick Realty Group. He was recognized as one of New York's power brokers by the CoStar Group.
Jeff Geoghegan is an associate director of Retail Leasing, representing landlords and retailers throughout the New York metropolitan area. He brings more than 20 years of sales and business experience to the team. Prior to joining Eastern Consolidated he worked as a stock broker at Greenway Capital and as a proprietary equities trader at Andover Securities.
Ravi Idnani is an associate director of retail leasing, specializing in both tenant and landlord representation. He has completed many transactions on behalf of both national and local tenants throughout New York City. He has represented Lululemon, Pamela Gonzalez, Aksel Group and Forcella Eatery, among others. Prior to Eastern Consolidated, Idnani was a director New York Commercial Real Estate Services.
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Rayna Katz
Rayna Katz is a seasoned business journalist whose extensive experience includes coverage of the lodging sector, travel and the culinary space. She was most recently content director for a business-to-business publisher, overseeing four publications. While at Meeting News, a travel trade publication, she received a Best Reporting award for a story on meeting cancellations in New Orleans during Hurricane Katrina.
