Staten Island Real Estate News

by James Prendamano

As Managing Director for Casandra Properties, I have spent the last twenty years successfully matching national brands with available retail space on Staten Island. The work is rewarding because it allows me to brag about my hometown to retail leasing agents who have little or no understanding of Staten Island’s spending power. I also gain the satisfaction of knowing that the work I do provides our borough with amenities that enhance both our quality of life and our property value.

When I look back on the thousands of hours I have spent negotiating retail leases, the common thread and most difficult hurdle to overcome has been the negative opinion retail leasing agents had about Staten Island. Unfortunately, most of their

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Ranked by ZAGAT as: One of the hottest concepts in New York City; New York City’s “Best for Ribs”; New York City’s “Best for Pulled Pork”, this dynamic BBQ restaurant also has locations in Texas and the Carolinas.

Mighty Quinn will occupy 2,575 square feet on the top floor of Empire Outlets overlooking the Manhattan skyline. “We look forward to becoming a part of this unique project and bringing our style of barbecue to Empire Outlets,” said Micha Magid, co-founder of Mighty Quinn’s Barbecue. Read more here.

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As reported by the Commercial Observer, Staten Island Advance and Women’s Wear Daily, this large scale jewelry exchange has leased 3,817 square feet on the second floor open corridor, inside Empire Outlet. The store will have panoramic views of the New York City skyline. James Prendamano, managing director for Casandra Properties, leasing agent for Empire Outlets, negotiated the agreement . In his remarks he pointed out that Staten Island has the highest median family income in New York City and that Staten Islanders generate $1.2 billion in unmet demand annually. He is confident that both Staten Islanders and off island shoppers will frequent the exchange for their jewelry purchases.

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Riverside Galleria Staten Island

Riverside Galleria, a new luxury waterfront retail center, will be located on the south shore of Staten Island, just below the Outerbridge Crossing. This nearly 500 thousand square foot shopping center will be home to a new dine-in movie theater operated by local businessmen Greg and Jessie Scarola who currently run The Atrium in Eltingville.

James Prendamano, Managing Director of Casandra

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Staten Island Realtors, Casandra Properties will showcase Empire Outlets and Riverside Galleria during International Retail Property Market – MAPIC – being held in Cannes, France from November 18th through the 20th. They will join Thor Equities, Vornado Realty Trust, Simon Property, Kimco, Related Companies, RFR Realty, SL Green and Archaio as part of the show’s US Country of Honour Program.

MAPIC is an annual retail show organized by Reed MIDEM. This year the show will be attended by more than 8,500 retailers from around the world. Casandra Properties is attending the show in order to attract attention to both Empire Outlets on Staten Island’s North Shore and Riverside Galleria on the South Shore.

Said James Prendamano, Managing Director for

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Foreclosure is not at crisis status on Staten Island says James Prendamano, Manging Director for Casandra Properties

Even though New York State’s housing market is still plagued by high levels of foreclosure activity, realtors on Staten Island say that the crisis has missed the borough mainly due to the renaissance of the North Shore waterfront.

With Projects such as Empire Outlets and URL at Navy Pier, both represented by Casandra Properties, clearly underway, home values on the North Shore are climbing because more people want to liver there.

Last week, State Comptroller Thomas P. DiNapoli released a report that concluded foreclosure filings across the state remain significantly higher than pre-recession levels.

“The foreclosure crisis is

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Can Staten Island be the New Brooklyn?

New York City’s smallest borough is now poised for a new renaissance as investors and developers pour $1 billion into the North Shore in hopes of striking Brooklyn-style gold.

Staten Island has long been considered the city’s least hip enclave, but these boosters believe it can finally be transformed into the borough’s answer to booming Long Island City or even Jersey City

“Young people want the same types of vertical living as you see in Manhattan and Brooklyn,” said James Prendamano of Casandra Properties, a Staten Island commercial real estate broker. “Not everybody … wants to live in Uncle Joe’s one-bedroom apartment in a semi-detached home in Southeast Annadale.”

Developers are already building

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Riverside Galleria to open in the Charleston section of Staten Island

Set on 21 acres of waterfront property on Arthur Kill Road adjacent to The Outerbridge Crossing, Riverside Galleria will house a host of retailers, outdoor restaurants, movie theater, an upscale supermarket and wetland preserve.

The 457,000 square foot retail complex is being developed by Melohn Properties, Inc., which has offices in St. George.

Bounded by the Outerbridge Crossing to the north, Arthur Kill Road to the east, Richmond Valley Road and Mill Creek to the south and the Arthur Kill Waterway to the west, the project is expected to break ground in early 2016 and open for business in 2017.

“Staten Island right now doesn’t have sufficient retail to serve the needs of

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I read with great interest the article about a proposal being pushed by the Staten Island Economic Development Corporation to build a tram system from St. George in Staten Island to lower Manhattan.

At first blush, the idea seemed cool and innovative, but as with all things, the devil is in the details and this idea is no exception.

As someone who has spent his entire life on Staten Island and who has built a career working to resurrect St. George and the North Shore of Staten Island back into the hub of culture, nightlife and liveable housing that it once was, I feel compelled to point out a few things with respect to this proposal.

  1. Does it make sense to spend millions of dollars to study something for which the technology does not yet
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Staten Island’s Record Commercial Real Estate Sale Completed by Brian McGowan of Casandra Properties

1 Edgewater Plaza, home to North Shore LIJ/Staten Island University Hospital, the New York City Police Department, the city Board of Elections and Community Board 1 was sold to Steven Wu for a record $21.5 million.

LNR Property sold the 268,000 square foot building which sits on a 796,000 square foot lot adjacent to other notable projects such as Ironstate Development’s “Urban Ready Life” project at Navy Pier, a mixed use residential complex comprised of 875 units and 35,000 square feet of retail geared toward young professionals that is expected to open next year which is also represented by Casandra Properties.

“We are pleased to have

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