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SKYLINE TAKES ON SCHWAB

LOIS WEISS
Friday, June 29, 2012 -  Charles Schwab & Co has signed a long-term lease for the ground floor retail space at 200 E. 79th St, a 19-story contemporary classic residential condominium expected to launch sales this fall. The 6,200 sf space will be used primarily to serve individual investor clients. Charles Schwab plans to relocate its existing Upper East Side branch, now at 1360 Third Avenue, to the new E. 79th Street location in late 2013. The company signed a 15-year lease. “Schwab has had a presence on the Upper East Side since 1993, and we’re very pleased to be making this new investment in the community,” said Dave Herbert, vice president and regional branch executive for Charles Schwab & Co., Inc. “The relocation will afford us more space for educational workshops as well as improved private offices for meetings between Schwab financial consultants and their clients. And since the branch will be right on the corner of 79th Street and 3rd Avenue, it will offer better access and greater visibility, too.” Designed by Cetra Ruddy, 200 E. 79th St. has 45 luxury condominiums. Sales and marketing for the property will be handled exclusively by Stribling Marketing Associates, and will commence in the fall of 2012. David Green and Steve Soutendijk of Cushman & Wakefield and Paul Spiegel of Scopa CRE represented Schwab in the transaction. Jeff Roseman and Gregg Gropper of Newmark Grubb Knight Frank represented the owners lead by Orin Wilf, President of Skyline Developers while lawyer Mark Dahn of Wilf Law Firm also represented Skyline.
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