commercial real estate on staten island

  • Can anyone give me an estimate for what yearly rate per square foot I should expect to pay for space in Hylan Plaza? It would be great if you could give me info on comparable properties that have had new leases signed or buildings sold in the area.


  • Hello - Could you clarify the second part of your question? Hyland Plaza has spaces that are under 5000 square feet, and others that are in the higher thousands of square feet. When you say comparable properties, are you looking for a retail front of a certain square footage in the New Dorp area? I don't know if data are available for actual properties that have been sold or leased (although I will look)... what about existing leasing possibilities for properties in the area? Would you be interested in those? jbf777


  • The short answer to your clarification is yes. I agree the data probably isn't available for what has already happened. I'm wondering what it will be going forward. For instance, space has come up for lease each year - how much will that go for? How much would space like that go for in nearby shopping areas (are there nearby shopping areas?)? What would be best would be to know general leasing rates for that area for stores of different sizes, and then some estimate of whether Hylan Plaza is more attractive, significantly more attractive, etc relative to those locations. I want a best estimate for the space based on local research - the more data points the better. Thanks for taking a look! Best, Papmot.


  • Hello papmot-ga, The Hylan Center is about 360,000 sq ft. The average base rental at Hylan Center is a bit more than $12/sq ft, but varies markedly from store to store. The big players in the Center are: Toys-R-Us -- 42,000 sq ft K-Mart -- 104,000 sq ft Pathmark -- 60,000 sq ft I can give you the base rentals payed by these three, along with a little detail about their lease arrangements and renewal options. It's not likely, though, that I could find comparables at other malls in the area. Would the information I've suggested be adequate as an answer to your question? Let me know. pafalafa-ga


  • No, that information doesn't help. I'm trying to get information about the future rents - I have the past rent info as well. Thanks, papmot.


  • Hello - Thank you for your question. If you need any further information or clarification, please don't hesitate to ask. I spoke to the actual owners of the Hylan Plaza, Atlantic Hyland Corp, who said there's no space available at the moment. However, there will be a 1900 sq. feet area available in the next 60-90 days. Most spaces that become availabie under 5000 sq. ft. are in the low $40/sq. ft. price range. Much of the space in Hyland Plaza is occupied by very large, long-term clients. The person to speak to at Atlantic Hyland is Stanley Rappaport, reachable at (212) 355-1255. Full contact details are: Atlantic Hyland Corp (subsidiary of Atlantic Realty Trust) 747 Third Ave. New York, NY 10017 (212) 355-1255 (Stanley Rappaport) -- According to Marie Tricarico at RayRap Realty, a seasoned expert in commercial strip malls, plazas, regular malls and the like, there are three key streets to look at for alternatives. With all properties, in addition to lease costs are the Cost and Area Maintenance (CAM charge) which may add an additional $7-$10 per square foot. There are a number of factors that can determine a lease price. A person with AAA credit rating, for example, may be able to negotiate a cheaper deal. The following is a selection of properties on these streets: o Richmond Ave. Pergament Plaza is most closely on the "tier" of Hylan Plaza, and is owned by a company named Pergament Properties. They only have second floor office space available at the moment. Here is a pdf on the property from their website: http://www.pergamentproperties.com/pdf/statenislnd.pdf If space becomes available, it will cost slightly more than it would at Hylan Plaza. Another plaza to look at is Richmond S.C. by Kimco Realty, a massive corporation with multiple such spots around the country. This property can be seen here; click on the map for a PDF: http://www.kimcorealty.com/propsearch/siteplan.asp?PropertyID=0601&state=NY&Choice=Map&scheck=leasing&sk=leasing Again, no space available here. A third plaza to look at is Greenridge Plaza, on Arthur Kill Rd. and Richmond Ave. http://www.kimcorealty.com/propsearch/siteplan.asp?PropertyID=0674&state=NY&Choice=Map&scheck=leasing&sk=leasing According to the website, there does actually appear to be space available at this particular plaza. For this and other Kimco properties on this order, Contact: Joshua Weinkranz 3333 New Hyde Park Rd. Suite 100 New Hyde Park, NY 11042 516-869-7146 jweinkranz@kimcorealty.com According to a rep at Kimco, the pricing seems to be not unlike Hylan Plaza. o Forest Ave. This avenue hosts a plaza on the corner of Barrett Ave., owned by Kimco Realty. This property can be seen here; click on the map for a PDF: http://www.kimcorealty.com/propsearch/siteplan.asp?PropertyID=0031&state=NY&Choice=Map&scheck=leasing&sk=leasing Property will be somewhere in the ballpark of $10 less per sq. ft. than Hylan Plaza. There is nothing available at this center at the present time. o Victory Blvd. There are quite a few smaller plazas here. In general, more expensive than Forest Ave. Due to the highly specialized nature of realty, I would advise contacting Marie for more information on these and other options, and to discuss your specific needs: 646-226-0818 or 718-370-7031. RayRap website: www.rayraprealty.com. ====== I've had more than one realtor say the going rate is about $40-$45/sq.ft for properties comparable to Hyland Plaza in the area. I've also had more than one say that Hylan Plaza is a major hot-spot when it comes to shopping in the area. Hyland Blvd., the street that Hylan Center is on might have property available as well. Robert Defalco Realty has some property available starting at $23,000/mo + $40K+ year taxes for 6300 sq. feet. This works out to just under $40/sq. ft. without taxes, which is in the general ballpark of property in the plaza itself. They have another at 10,000 sq. feet, for around 2 mil USD. Again, a number of factors may afford you significantly cheaper rates in negotiation. Sources/Additional contacts: Marie Tricarico 646-226-0818 718-370-7031 Nicki, Ditommaso Realty 718-667-6690 Kimco 516-869-9000 Rischay Franco Century Realty Safari Realty 347-228-6811 Gateway Arms Realty Bob Fitzsimmons 718-273-3800 Robert Defalco Realty 1678 Hylan Blvd. Staten Island, NY 10305 (718) 987-7900 (718) 980-9842 fax info@defalcorealty.com Contact: Susan Manager Weichert REALTORS , Vitale Sunshine 1671 Hylan Blvd Staten Island, NY 10305 100, 107, 123 718-979-3333x228/ Fax: 718-667-7964 cbcsold@prodigy.net CENTURY 21 - Calabrese Realty 2205 Hylan Boulevard Staten Island, NY 10306 718-979-3000 800-451-9191 718-987-8026 fax Tom Iello Igor Sokolinsky Mark International Real Estate 2381 Hylan Blvd. Staten Island NY United States 10306 Phone (718) 987-4500 (Margarite) Search strategy: calling realtors


  • Thank you very much! I very much appreciate the tip and rating. Will be on the lookout for any new questions. jbf777


    • December 01st 2008 Posted to munchsmadonna.com edit