Maimonides Opening 25K-SF Health Care Center in Clinton Hill
By Mark Hallum June 21, 2024 10:44 am
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Brooklyn-based hospital system Maimonides Health will open a new care center in the under-construction residential tower at 809 Atlantic Avenue in Clinton Hill, Brooklyn.
Maimonides signed a 25,000-square-foot lease to provide primary care, surgical and OB/GYN services at the facility owned by Hope Street Capital, according to JLL (JLL), which did not disclose the length of the leases or asking rent in the building.
Retail asking rents in nearby corridors of Brooklyn ranged between $112 to $245 per square foot in the second half of 2023, according to a report from the Real Estate Board of New York.
Crain’s New York Business first reported the deals.
“Retail demand remains elevated across Brooklyn’s prime corridors, and these latest transactions illustrate how the residential community remains underserved,” JLL’s Ryan Condren, who brokered the deal for Hope Street, said in a statement. “We are already seeing tremendous interest in the remaining availability at 809 Atlantic Avenue and look forward to quickly leasing the 8,000 square feet of divisible space across the ground floors.”
Nick Zweig of Locations Commercial Real Estate negotiated on behalf of the tenant.
“It’s going to be a really beautiful facility for them,” Zweig told Commercial Observer. “It’s going to be a centralized hub for them and they’ll have a nice-sized presence in this one space alone in this area.”
The primary care practice will relocate from 26 Court Street, according to Zweig.
The Atlantic Avenue development, known as The Axel, stands 29 stories tall and features 264 units of housing above the retail component. It has been in the works since 2019 when plans by the developer were approved by the New York City Planning Commission.
“It’s taken a minute to assemble the site and work through the [Uniform Land Use Review Procedure] and landmarks processes,” Hope Street Capital partner Sha Dinour said in a statement. “However, the apartments are now fully stabilized and the rapid lease-up of the retail space is reflective of the strong demand for best-in-class concepts among the very fast-growing residential population leading the neighborhood’s transformation.”
Oher recent deals in the building include Hounds Town USA, a dog day care chain that will have the run of the 6,000-square-foot lower level of the development. It’s unclear who brokered the deal on behalf of the tenant.
Fast-food chain Chick-fil-A leased 5,000 square feet in the building as well, with David Alani and Michael Friedman of Inline Realty negotiating on the chicken franchise’s behalf. The brokers did not immediately respond to a request for comment.
Mark Hallum can be reached at mhallum@commercialobserver.com.
