With nearly 25 years of retail real estate experience, Eric Gelber has earned a solid reputation for serving his clients by developing and implementing strategic – and highly creative – marketing and leasing solutions. In his role as Executive Vice President of CBRE’s New York Tri-State Retail Services Group, Mr. Gelber has been responsible for executing leasing and sales transactions valued at more than $4 billion on behalf of his clients.
In addition to advising retailers such as Barilla and CIT Bank on their space strategies, Mr. Gelber is one of New York City’s most successful and highly regarded ownership representatives, with clients including Equity Office Properties, Fisher Brothers and Paramount Group. Manhattan’s most prominent real estate owners consistently select Mr. Gelber as their real estate advisor, exclusively seeking his expertise to lease the retail at their prized properties. D. Eric Habermann, Senior Vice President, Asset Management for Host Hotels & Resorts might have said it best: “Eric’s efforts have been invaluable to us and have helped to enable millions of dollars of value creation for our shareholders.”
Mr. Gelber arranged the 100,000-sq.-ft. long-term master lease between Host Hotels & Resorts and Vornado Realty Trust, an extremely complex transaction that allowed Vornado to redevelop both the entire retail and signage components of the New York Marriott Marquis in Times Square. He also repositioned the retail at Morgan Stanley’s world headquarters at 1585 Broadway, with transactions including Sunglass Hut, Bare Escentuals, Fossil, Skagen and Starbucks’ flagship. He was instrumental in Morgan Stanley’s sale of the 25,000-sq.-ft. retail condominium at 522 Fifth Avenue, as well as the 17,000-sq.-ft. lease to Sephora for its two-level flagship at the repositioned 580 Fifth Avenue on behalf of ownership. Most recently, Mr. Gelber represented Foot Locker in the leasing of its new 36,000-sq.-ft. Times Square retail condominium at 1460 Broadway, a four-level flagship with dynamic signage.
A testament to his creativity and vision, Mr. Gelber is a two-time recipient of the Real Estate Board of New York’s Retail Deal of the Year Award – perhaps the most prestigious award in the industry – which recognizes the most ingenious transactions in the retail market. In 2006, he took home REBNY’s “Most Creative Retail Deal of the Year” award for Gucci’s flagship lease at 725 Fifth Avenue, and REBNY also honored Mr. Gelber in 2001 with the award for the sale of Gotham Hall, 1356 Broadway, to Haier America – for which he devised a marketing campaign that wrapped the building in an enormous red bow.