Mortgage Observer

Brooklyn’s Retail Financing Redux: Hipper Shopping En Route

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As the economy continues to build steam, a new Brooklyn finds itself craving a new retail culture—and developers and financers are keeping close watch. While New York’s most populous borough has seen a large number of residential buildings take shape in the past year, financing for retail construction projects and acquisitions are just now beginning to catch up.

When asked, the developers behind several of the latest big retail projects told The Mortgage Observer that many of those properties would have a more chic look and feel and a more versatile use than traditional shopping outlets and malls. One common point of comparison has been Jamestown’s Chelsea Market, the high-end urban food court and shopping center with galleries and production studios mixed in. Read More

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A Mall Grows in Bushwick?

Could 82 Bogart Street attract... these hipsters?

For more than five years, an exodus of the young and hip from the aluminum-siding-studded homes of Williamsburg, Brooklyn, has been flowing southeast into neighboring Bushwick.

But now a nascent 80,000-square-foot retail and nightlife complex at 82 Bogart Street threatens to cement the neighborhood’s imminent transformation from underground hipness to mainstream retail success once and for all. Read More