ROBERT K. FUTTERMAN & ASSOCIATES.

RKF set to capitalize on low vacancy and new space

In the metropolitan area retail market, no other commercial real estate brokerage firm represents more tenants and developers on an exclusive basis than Robert K. Futterman & Associates, LLC (RKF). The 18-month-old retail specialist is recognized as one of the first choices among international, national, regional and local retailers, investors and developers in the New York Metropolitan area. Presently, RKF is exclusively representing approximately 25 retailers and over 30 developers and investors in the region. Since its founding, RKF has closed in excess of $500 million in aggregate transactions. Remarkably, this boutique organization is comprised of only 15 senior retail executives, making RKF among the highest grossing real estate brokerage firms per employee in the entire country.

"Our retail expertise in the New York Metropolitan area is truly unrivaled," said Robert K. Futterman, CEO. "One of the keys to our continued growth is our ability to offer clients a comprehensive range of sophisticated leasing and marketing services including market research, site selection, lease negotiation and disposition in an integrated and intelligent manner. Our growing team of experienced retail specialists are also thoroughly knowledgeable in all aspects of retail operations. At RKF, our goal is to become an integral part of a client's growth plans and to provide then with a comprehensive real estate strategy that mirrors their business plans," Futterman concluded.

Presently, RKF is exclusively representing some of the best known retail names including: Circuit City Stores, Ashley Stewart, Bailey Banks & Biddle, Bally's Total Fitness, Barnes & Noble, The Bombay Company, Citibank, Dooney & Bourke, House of Blues, Kinko's, Portico Bed & Bath, Virgin Megastores, Wilson's Leather, Wolf Camera, Guess?, Casual Corner and Zales.

"Today, retailers are having a very difficult time finding the locations they need to meet their strategic planning objectives," said Futterman. "With the market so strong and vacancies at historically low levels, we are experiencing the emergence of new retail locations that are exploding as a result of the tightness in prime areas. These areas, which were once unthinkable as retail destinations - the Flatiron District, Noho and East 57th Street, upper Fifth Avenue and lower Third Avenue - are all areas of tremendous retail expansion," Futterman added.

Over the past few months, RKF has closed two of New York's biggest leases, including the 90,000 square-foot Bed, Bath & Beyond lease on the Upper East Side and the 60,000 square-foot Old Navy lease in Flushing.

Presently, RKF is marketing approximately 2.5 million square feet of new construction throughout Manhattan, suburban New York, Connecticut and New Jersey. RKF is marketing many of the area's signature new developments for such clients as RFR Realty, The Related Companies, Vornado Realty Trust, Cappelli Enterprises and Forest City Ratner. Highlights include: The Palladium at Columbus Centre, 750 Sixth Avenue, 1110 Third Avenue, The Empire at Third Avenue, Brooklyn Commons, The Gateway Retail Center in Brooklyn, the former Caldors locations in Queens and the Bronx and New Roc City in New Rochelle. This dominance in the new construction sector also provides RKF's tenants with outstanding leasing opportunities.

"The retail market is exploding and RKF is leading the surge in new construction throughout the New York Metropolitan area," said Robert Cohen, senior managing director. "With vacancies at historically low levels and the market remaining extremely hot in all sectors, we expect this wave of new construction to be fully absorbed very expeditiously. As one of the premier retail specialists in the industry, RKF is the number one choice for developers and investors who are capitalizing on the strong market conditions and commencing new development," Cohen concluded. Robert Cohen is recognized as one of the top brokers in SoHo, having closed many of the area's signature leases.

"While rents in some cases have reached all-time highs and other pockets of the area are experiencing a tremendous revitalization, there appears to be no near-term softening of the retail market," added Howard Gilbert, senior managing director. "A healthy economy, low unemployment and the emergence of big box development have all been positive factors that are fueling the growth of the retail sector. The New York Metropolitan area is still considered the most desirable retail address in the world and retailers must continue to be aggressive to fight for quality space in this market. Therefore, we are confident that the surge in new development will be quickly absorbed by the market," Gilbert concluded.

RKF is also leading the surge of expansion into New York's boroughs and suburbs. The company is extremely active in Queens, The Bronx, Connecticut and New Jersey. "What truly differentiates RKF is our ability to create the newest retail neighborhoods in the marketplace. Our clients trust our judgment at RKF and that when we make a recommendation, it is based on experience, market intelligence and our ability to be on the cusp of major market trends," said David Rosenberg, managing director.

The senior team of professionals at RKF also includes Barry Fishbach, Louis Novick, Jeff Lagowitz, Robert Cohen, Karen Bellantoni, David Rosenberg and Bob Kinsey.