News: Brokerage

Cushman & Wakefield and JRT Realty Group lease 3,380 s/f to Shake Shack in Penn Station

Manhattan, NY Cushman & Wakefield and JRT Realty Group arranged a long-term, 3,380 s/f lease with Vornado Realty Trust for Shake Shack in Penn Station, on the corner of 33rd St. and Seventh Ave.

Cushman & Wakefield’s Joanne Podell and Michael Shalom along with JRT Realty Group’s Jodi Pulice and Peter Brestovan represented the tenant. Vornado was represented in-house.

“We are so excited for Shake Shack to be a part of the reimagined Penn Station,” said Podell. “Shake Shack is reaffirming its commitment to Manhattan with this outstanding new location as Penn Station’s redevelopment continues to transform Midtown and reshape the city’s post-pandemic culture.”

“As an industry leader in environment, social and governance matters, specifically around workforce and supplier diversity as well as the advancement of women and minorities, Shake Shack is an amazing company to work with and we are thrilled to have found them a new home in Penn Station,” said Pulice. “With New York City’s retail market rebounding and more employees returning to the office, Shake Shack will benefit from its prime location in the heavily trafficked Penn Station.”

READ ON THE GO
DIGITAL EDITIONS
Subscribe
Columns and Thought Leadership
Lasting effects of eminent domain on commercial development - by Sebastian Jablonski

Lasting effects of eminent domain on commercial development - by Sebastian Jablonski

The state has the authority to seize all or part of privately owned commercial real estate for public use by the power of eminent domain. Although the state is constitutionally required to provide just compensation to the property owner, it frequently fails to account
AI comes to public relations, but be cautious, experts say - by Harry Zlokower

AI comes to public relations, but be cautious, experts say - by Harry Zlokower

Last month Bisnow scheduled the New York AI & Technology cocktail event on commercial real estate, moderated by Tal Kerret, president, Silverstein Properties, and including tech officers from Rudin Management, Silverstein Properties, structural engineering company Thornton Tomasetti and the founder of Overlay Capital Build,
Strategic pause - by Shallini Mehra and Chirag Doshi

Strategic pause - by Shallini Mehra and Chirag Doshi

Many investors are in a period of strategic pause as New York City’s mayoral race approaches. A major inflection point came with the Democratic primary victory of Zohran Mamdani, a staunch tenant advocate, with a progressive housing platform which supports rent freezes for rent
Behind the post: Why reels, stories, and shorts work for CRE (and how to use them) - by Kimberly Zar Bloorian

Behind the post: Why reels, stories, and shorts work for CRE (and how to use them) - by Kimberly Zar Bloorian

Let’s be real: if you’re still only posting photos of properties, you’re missing out. Reels, Stories, and Shorts are where attention lives, and in commercial real estate, attention is currency.