Forever 21 Signs Lease at 490 Fulton Street


490 Fulton Street (image: GoogleMaps).
490 Fulton Street (image: GoogleMaps).

Forever 21, one of the most popular retailers in the exploding fast-fashion world, has signed a lease for 40,000 square feet at 490 Fulton Street between Elm Place and Bond Street in Downtown Brooklyn.

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First reported by The Wall Street Journal, Forever 21 is expected to open its newest New York store at the five-story property controlled by Crown Acquisitions by the end of this year. WSJ noted that Downtown Brooklyn was previously home to a Forever 21 (at 1 DeKalb Avenue), but that location shut its doors in 2007. Today, there are nine other Forever 21 locations throughout the five boroughs.

Asking rents for the lower level space were $55 per square foot and were $325 per square foot for the main floor, according to a press release issued by Crown.

Forever 21 did not immediately respond to a request for comment.

Other tenants at the property include Planet Fitness, Raymour & Flanigan, Express, Swarovski, Chase Bank and IHOP. The upper three floors of the building are Long Island University dorms.