Brooklyn-based developer CS Management has acquired a development site at 657-665A Fifth Avenue in South Park Slope for $8.5 million, representatives of the seller announced last week.
“This could become a focal point for the South Slope market,” Sean Kelly, managing director at CPEX, told The Commercial Observer. “There is not much left of Fifth Avenue in Park Slope-proper and the natural progression is south,”
The partnership behind the $375 million acquisition of the Watchtower portfolio in Dumbo has appointed Brooklyn-based real estate services company CPEX to lease the development’s retail space, The Commercial Observer has learned.
The deal, which ranks as the largest so far this year in Brooklyn, could feature a variety of retail opportunities including food hall concepts and gym facilities, in addition to its office campus use.
2013 Owners Magazine
When the Jehovah’s Witnesses began putting its portfolio of 35 buildings on the block in 2004, even the most seasoned real estate observer couldn’t have predicted that one of the winning bidders of a sprawling six-building complex in Dumbo would be Aby Rosen.
Known primarily as the owner of the Seagram Building and Lever House, two of the most iconic examples of mid-century modernism in Manhattan, Mr. Rosen and RFR Realty seemed unlikely suitors for a 1.2 million-square-foot compound in Brooklyn.
But similar to his cultivation of private equity and hedge fund tenants prior to the economic collapse, Mr. Rosen once again is tapping into New York City’s most exciting new business community–the rapidly expanding tech sector in Brooklyn.
Brooklyn-based developer Bushburg Properties has acquired two adjacent buildings in Downtown Brooklyn boasting over 90,000 buildable square feet for $16.2 million.
The deal’s price per buildable square foot of $173 is a significant sign of the area’s emergence as a central business district, according to the broker of the sale. “From a development perspective, I believe it’s the highest price per buildable square foot paid in Downtown Brooklyn,” Sean Kelly, managing director at CPEX, told The Commercial Observer.
LA Boxing will be opening a new location in Park Slope, Brooklyn.
Located on the corner of 3rd Street and Fourth Avenue, LA Boxing will take the entire 6,000-square-foot second floor of the three-story commercial property at 340 Fourth Avenue.
A long-term ground lease has been arranged for the development of a hotel at 95 Rockwell Place in Brooklyn, near the Brooklyn Academy of Music, it was announced last week.
The news of hotel development comes on the heels of Mayor Bloomberg’s November 2012 announcement of plans to begin the development and construction of 600 units of mixed income housing, as well cultural and commercial space in the area. The site, bounded by Fulton Street, Rockwell Place and Ashland Place, is to be developed through the Gotham Organization and DT Salazar.
Mayor Bloomberg also announced a public review of the development of 50,000 square feet of creative, cultural and community space, as well as a new public plaza in the neighborhood.
PM Pediatrics has inked a deal for a new location in Brooklyn, brokers told The Commercial Observer.
The doctor’s office is known for being open every day including holidays and offering services after traditional work hours and weekends. The firm will take 6,055 square feet of ground floor retail space at 240 Atlantic Avenue in Read More
Safety King, Inc. will be opening their fourth location in the New York City region.
The construction safety equipment supply house will be opening a 5,700-square-foot warehouse at 771 Third Avenue in Brooklyn. The warehouse occupies about a fourth of the 20,288-square-foot building and sits on the corner of 26th Street and Third Avenue, a Read More
ElderServe has inked a deal for an office in Brooklyn.
The long-term care program managed by New York State to help elderly individuals live independently in their homes has grabbed a 10,000-square-foot office at 1630 East 15th Street in Brooklyn.
Harbor Freight Tools has inked a deal for a location in Staten Island.
The nationwide tool and equipment retailer is set to open a new store within proximity to Home Depot and Lowe’s on 2295 Forest Avenue.
“Harbor Freight targets a similar customer base, [so] this was one of the big factors in their decision Read More
House of Cupcakes has inked a deal to open their first New York location.
The winner of the Food Network‘s second season of Cupcake Wars is set to open shop in the West Village near Sheridan Square at 101 Seventh Avenue South. The location, previously occupied by GNC, features 1,500 square feet on the ground Read More
The Southern California-based footwear designer Supra known for their unique skate shoes has inked a deal for a new location in Brooklyn.
The footwear designer and retailer will open its second New York City location – the first operating out of 4 Prince Street in trendy SoHo – in Beorum Hill at 288 Atlantic Avenue.
The Read More