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REBNY honors New York retail deals, including Urban Outfitters lease
Cushman & Wakefield’s team helped Urban Outfitters relocate to 575 Fifth Avenue, with retail asking rent set at $3.0 million per year.
The Real Estate Board of New York, or REBNY, recognized key retail transactions completed in New York City over the past year at its 2026 Retail Deal Awards, covering retail sales, leasing, and development deals of varying sizes and complexity, Commercial Observer writes. REBNY named Cushman & Wakefield as the winner of “Most Ingenious Retail Deal of the Year” for its work on Urban Outfitters. The team supported a 15,345-square-foot lease signed in April at Sovereign Partners and HudsonPoint Capital’s 575 Fifth Avenue, moving the retailer’s store from 521 Fifth Avenue to the corner of East 47th Street, and incorporating a former L’Oreal lower-level cafeteria into the ground floor retail layout.
REBNY’s “Most Impactful Retail Deal of the Year” went to Newmark for arranging Audemars Piguet’s flagship lease at 785 Fifth Avenue. Commercial Observer reports the watchmaker signed for a 12,000-square-foot space in March 2025, with asking rent of $4.8 million per year.
The event drew nearly 150 members and guests, and REBNY president James Whelan said the range of winning projects reflects the dynamism of New York’s retail market, according to Commercial Observer. REBNY also evaluated retail deals across sales, leasing, and redevelopment as part of the awards program.