Retail broker Jeff Winick files for personal bankruptcy
Jeff Winick, CEO and Founder of Winick Realty Group and one of New York’s top retail brokers, has filed for bankruptcy.
In Chapter 7 bankruptcy filings filed on August 27, Winick claims to have $ 530,000 in assets and $ 9.7 million in back taxes and fines owed to the Internal Revenue Service and the Department of New York State taxes and finances. He declared $ 122,800 in monthly income.
Over the course of his career, Winick has negotiated over a million square feet of commercial leases in New York City, representing tenants such as Duane Reade, AT&T and Starbucks as well as large landlords like the Durst Organization. His firm of 50 agents has leased more than 15 million square feet over the past 30 years, regularly exhibiting in The real deal ranking of the best retail brokers. Winick has also become a prominent figure on the real estate party circuit, hosting annual poolside extravagances at ICSC Las Vegas that have drawn the biggest players and shakers in commercial real estate.
PincusCo first reported the bankruptcy. In 2018, Winick landed on the state’s list of the 250 biggest tax debtors, with the state claiming it owed $ 1.2 million.
The assets that Winick claims exempted from bankruptcy include two Rolex watches, which he says together are worth $ 5,000, and furniture worth $ 10,000. The documents also indicate that he has no retirement savings.
He rents a unit at the luxurious River Tower, located at 420 East 54th Street.