Germany-based firm has 800 "shop and lounge" concepts worldwide
Lease an airplane, buy a condominium?
At a time when many residential brokerages are shuttering storefronts, Engel & Völkers is planning to open a retail shop in prime Midtown that will incorporate real estate sales with its yacht and aircraft leasing operation. The firm inked a lease last week for 1,300 square feet at 430 Park Avenue, according to Stuart Siegel, president and CEO of Engel & Völkers New York Real Estate.
Germany-based Engel & Völkers has 800 such “shop and lounge” concepts around the world in key markets such as Paris and Dubai. “This is the first in New York City,” said Siegel, who described the new Park Avenue shop as a North American marketing outpost for…