Mike DiBella in NYREJ for Recent Deals

DiBella of Pliskin Realty brokers two leases totaling 2,050 s/f

October 27th, 2015Posted in New York City, Shopping CentersNo Comments

Michael DiBella, Pliskin Realty

Brooklyn, NY Michael DiBella, a sales associate at Pliskin Realty & Development has brokered two leases totaling 2,050 s/f.

The first deal is a 650 s/f, 10-year lease for optometrist, East New York Eyecare, Inc. at 1680 Pitkin Ave. DiBella represented the tenant and the property owner, Rapville, LLC.

The second deal was for a 10-year lease for 1,400 s/f of retail space located at 940 Third Ave. in Manhattan.  DiBella represented the property owner, Plentino Realty Ltd. The new tenant, J.J. Salon, was represented by Elliot Forest of Crosstown Commercial Properties, LLC.

DiBella concentrates on property sales and leasing assignments. He brings to his role extensive sales experience, as well as direct retail experience as a former owner/manager of multiple food and beverage enterprises.

More Deals For Pliskin Realty

Pliskin and Wierzbicki of Pliskin Realty & Development broker 2,500 s/f lease

Christopher Wierzbicki, Pliskin Realty & Development
Christopher Wierzbicki, Pliskin Realty & Development

Jeffrey Pliskin, Pliskin Realty & Development
Jeffrey Pliskin, Pliskin Realty & Development

Bayside,NY Pliskin Realty & Development’s president and CEO Jeffrey Pliskin and sales associate Christopher Wierzbicki have completed a lease for a 2,500 s/f retail property formerly occupied by a McDonald’s restaurant and now housing a Benjamin Moore/Hunter Douglas Design Center. Pliskin and Wierzbicki also represented the owner of the property, 41-27 Bell Corp., which is located at 41-27 Bell Blvd. The Benjamin Moore/Hunter Douglas franchisee, which operates 18 locations in the New York-Metro area, relocated the store from another site.41-27 Bell Blvd. – Bayside, NY

Pliskin Makes Deal with Orangetheory Fitness

Orangetheory Fitness coming to Long Island shopping centers | Chain Store Age

Jericho, N.Y. – Orangetheory Fitness, a fitness studio that uses heart-rate monitoring technology and interval training to improve and increase the workout experience, is expanding in Long Island. The fitness studio’s upcoming New York expansion includes Syosset at the Syosset Corners Shopping Center and in Melville in Melville.

Both locations scheduled to open in 2015. The landlord for the Syosset location is Kabro of Syosset, LLC. and the property is managed by Kabro Associates. The landlord for the Melville location is Melville 500 Associates, LLC. and managed by Pliskin Realty & Development. Daniel Glazer from Ripco Real Estate represented Orangetheory in both transactions and in Melville, Pliskin Realty and Development was represented by Chris Wierzbicki.

Orangetheory Fitness targets spaces approximately 2,700 sq. ft. to 3,200 sq. ft. The company currently has 200 open locations and 400 more in development nationwide, 70 of which are currently under construction. Orangetheory Fitness is represented by Daniel Glazer of Ripco Real Estate. On Long Island there are plans for future locations and sites can be sent to him.

New Property Management Deal for Pliskin Realty

NYREJ – Pliskin Realty awarded retail property management contract for 1200 East Jericho Turnpike, Huntington

Pliskin Realty awarded retail property management contract for 1200 East Jericho Turnpike, Huntington

1200 East Jericho Turnpike - Huntington, NY
1200 East Jericho Turnpike – Huntington, NY

Huntington, NY Pliskin Realty & Development has been awarded a new property management assignment. Pliskin will be providing its comprehensive property management services on behalf of property owner, M. Zamel, LLC, for a 20,000 s/f retail shopping center located at 1200 E. Jericho Tpke.

These services range from: billing and collection of rents; financial account management, recordkeeping and documentation; and coordination of all professionals and contractors; to property maintenance and repairs, tenant supervision and relations; regulatory compliance; legal actions; and property marketing.

At present, there is a 3,100 s/f end-cap unit, which can be subdivided, available for lease. Current tenants include: a dry cleaner, Cartridge World, Wine Shack, Lemon Tree Hair Salon, Carvel, dancewear store and a Chinese take-out restaurant.

Currently under Pliskin’s management are 85 properties with over 400 tenants located across the country. Pliskin also owns and manages its own high performance portfolio of properties

Mike DeBella Makes 10yr. Retail Lease and is in the News Again

New York Real Estate Weekly and New York Real Estate Journal both recently published press releases about Pliskin Realty.  Mikes headshotMichael DiBella served as the exclusive broker on 16oo s/f retail space at 27 Rockaway Ave. in Valley Stream.  It is a ten-year lease with a five yr. option.  The landlord is Montrigo Properties, LLC and the new tenant is Royal Charms, Inc. a full-service event studio providing complete planning, event décor, coordination, custom stationery products and custom bridal jewelry. http://nyrej.com/83184

Pliskin’s Mike DiBella and Brad Barish in the News

NYREJ – Pliskin Realty & Development negotiates two retail leases in Long Island totaling 14,644 s/f

Pliskin Realty & Development negotiates two retail leases in Long Island totaling 14,644 s/f

Moe's Southwest Grill, Melville Plaza, <br />610 Broadhollow Road - Melville, NY
Moe’s Southwest Grill, Melville Plaza,
610 Broadhollow Road – Melville, NY

Express Furniture Warehouse, <br />533 Burnside Avenue - Inwood, NY
Express Furniture Warehouse,
533 Burnside Avenue – Inwood, NY

Michael DiBella, Pliskin Realty & Development
Michael DiBella, Pliskin Realty & Development

Brad Barish, Pliskin Realty & Development
Brad Barish, Pliskin Realty & Development

Inwood, NY Pliskin Realty & Development has brokered two retail leases totaling 14,644 s/f.

In the first lease, Pliskin sales associate Michael DiBella completed a lease transaction involving 12,000 s/f of retail space located at 553 Burnside Ave. The new tenant is Express Furniture Warehouse, Inc., a leading New York area retailer of high quality furniture at incredible values. The term of the lease is five years with one five-year option. DiBella represented the landlord, EJA Management and Tom Jenkins of S.B. Schwartz & Co., Inc. represented the tenant.

DiBella concentrates on property sales and leasing assignments. He brings to his role extensive sales experience, as well as direct retail experience as a former owner/manager of multiple food and beverage enterprises.

In the second lease, Pliskin senior associate Brad Barish completed a lease for 2,644 s/f in the Melville Plaza located at 610 Broadhollow Rd. Barish represented the landlord, Willner Realty & Development Co. (WRDC, Philadelphia, PA) and Bill DeSeve of Breslin Realty represented the tenant, Moe’s Southwest Grill. The lease is a ten-year lease with two additional five-year options.

At Pliskin, Barish lends over two decades of real estate experience, in addition to extensive, direct retail industry experience. Barish draws on a successful career in retail, most notably as a retail jeweler. Directly prior to joining the company, he served as a real estate salesperson for Breslin Realty. There he was involved in various commercial real estate sales and lease transactions with a strong focus on the leasing and sales of restaurants. He has been instrumental in meeting the real estate needs of national brands such as Quiznos, Arby’s, Planet Wings, Denny’s, and Hurricane Grill, as well as the needs of well-known New York City restaurateurs including Croxley Ales and McFadden’s. His track record also includes successful transactions in other market sectors on behalf of leading retailers such as Pets Warehouse and MetroPCS.

Pliskin is one of the leading real estate brokerage, property management and investment firms in the New York-metropolitan region specializing in retail real estate. Pliskin is one of the most active brokerage firms representing a wide range of properties, from the largest shopping centers to smaller, strip centers and standalone properties.

Jeffrey Pliskin in NYREJ – April 28 – May 11 2015 Issue

Third-party property managers offer a strong value proposition

Jeffrey Pliskin, Pliskin Realty & Development, Inc.
Jeffrey Pliskin, Pliskin Realty & Development, Inc.

Property management (PM) across all markets (i.e., retail, office, industrial and residential) represents a $69 billion industry. There are over 206,000 PM firms in the U.S. today. With an estimated 3% annual growth rate and based on forecasts,things are looking up for PM firms. This is especially true for third-party PM firms who offer real estate owners an indisputably strong value proposition.

Alleviating the Headaches

Whether a retail, office, industrial or residential building, there are headaches associated with ownership. There arechallenges associated with tenants who fail to pay their rents on time, hiring and managing contractors, dealing with local municipalities, keeping a property fully-tenanted or marketing it for sale, and maintaining sound financial operations. For owners who do not have the experience, qualified staff, relationships, or the time or desire required to do the job effectively, an experienced, third-party PM firm can be a real asset, freeing up the owner from all of these tasks and the associated headaches.

The Value Proposition

Of course, there are many more tangible benefits presented in the PM firm’s value proposition, including:

* Improved financial management including property budgets, efficient management of accounts receivables and payables, rent collection and cash flow;

* Property income optimization;

* Lower total cost of ownership;

* Properly maintained property;

* Real estate asset protection and risk reduction;

* Efficient problem resolution;

* Enhanced owner/tenant relations;

* Positive reputation as a responsible owner; and

* Better positioning with lending institutions.

All of these benefits add up to a better, more profitable ownership experience and allow an owner to pursue other business or recreational interests. There is a caveat though. Not all PM firms deliver a high value proposition. Some are clearly more qualified and some are simply better fits for certain owners. Therefore, it is important to perform the necessary due diligence when selecting a PM firm.

One Size Does Not Fit All

First, let’s dispel the common misconceptions. Bigger is not always better when it comes to property management. In fact, the opposite is often true. A smaller PM firm provides a more personalized, higher level experience. Their owners, many of whom also have their own real estate portfolios, are hands-on and can relate to a property owner’s goals and needs. The small PM firm’s staff is locally-based, accessible and very knowledgeable about the market (i.e., competitive properties, rents, sale prices, lending rates, etc.). They have close working relationships with local builders, sub-contractors, officials and other brokers. They are extremely accountable and responsive to the owners and tenants in properties they manage.

Within the smaller PM firm, staff members tend to be long-term, experienced, senior level professionals. They’ve worked together as a team for many years and as a result can be extremely responsive and efficient in addressing needs. Tenant concerns are managed, communicated and resolved quickly. There’s high accountability.

Because of their size, smaller PM firm also can offer more flexible contract terms in its management agreements with its owner clients, whether that encompasses less restrictive cancellation clauses or fee structures.

Expectations and Deliverables

Assuming that the PM firm can accommodate an owner’s needs, applies best practices, can provide references and has the proper credentials (e.g., certified shopping manager (CSM) credential awarded by the International Council of Shopping Centers for retail property managers),knowing what to expect from the relationship will facilitate a higher ROI. A full-service PM firm should be expected to provide the following services:

* Financial management – property budget and financial plan development; billing and collection of rents; determination of lease terms that meet the owner’s financial goals while helping to attract and retain high quality tenants; development of asset protection and optimization strategies encompassing cost-effective property maintenance, insurance, taxes and contractor/vendor contracts; deployment of a sound accounting and property management system; adherence to tight internal financial controls; detailed financial reporting; and performance of its role as a responsible fiduciary on behalf of the owner, serving with transparency and adhering to strict policies such as not accepting commissions, fees, rebates, etc. without full disclosure.

* Property maintenance and management – reflecting the owner’s short- and long-term goals and encompassing a detailed property budget (i.e., itemized expense projects covering routine maintenance, preventive maintenance and capital improvements), policy relating to contractors’ insurance requirements, collection of certificates of insurance and other documentation, emergency preparedness/disaster recovery plan for contingencies ranging from natural and manmade disasters to security or data breaches, environmental hazards, safety incidences, etc., and a commitment to protecting and maintaining a safe property with adoption of appropriate measures (e.g., surveillance cameras, sufficient parking lot lighting, security guards, as appropriate, etc.)

* Property marketing/brokerage services – customized marketing plan which identifies target tenants and/or buyers, presents creative marketing strategies for attracting prospective tenants/buyers (i.e., advertising, online marketing, social media, broker campaign, etc.) and a well-developed leasing plan conveying the attributes of a property, unit rental rates or sales prices, square footage/space options, competitive property data, market conditions, as well as an ongoing strategy to position the property favorably within its community and with outside centers of influence

By understanding the full scope of services that should be provided and choosing a PM firm wisely, property owners can derive considerable value from this important relationship.

Jeffrey Pliskin, Esq., is the president & CEO of Pliskin Realty & Development, Inc., Garden City, N.Y.