Dim Sum Palace Takes 2,500 SF at 202 Flatbush Avenue

Cantonese restaurant chain Dim Sum Palace has signed a 2,500-square-foot lease at 202 Flatbush Avenue in Brooklyn, just a stone’s throw from the Barclays Center. 

The lease is for 10 years, and the asking rent was $165 per square foot. Traded first reported this lease.

KSR Realty’s Benjamin Namdar, David Green and Albert Salameh represented both the tenant and the landlord in this deal. KSR has been negotiating several retail leases in this area of Brooklyn. 

“When we first started marketing this stretch, we already had anchors like Warby Parker and [fashion retailer] Kith. But with rents still below $200 per square foot, there’s real runway for tenants to make serious money here,” Green told Commercial Observer. “We’ve since signed Dim Sum Palace, Babyface Brows, Skinny Louie burgers, Xi’an Famous Foods and Surfish Bistro, transforming this corridor into one of New York’s next world-class stretches of retail. Facing Barclays Center, with events nearly 300 nights a year and connected to almost every train at Atlantic Terminal, the fundamentals, visibility and energy rival Seventh Avenue outside Madison Square Garden, but with far greater upside and long-term value creation.”

Dim Sum Palace has six other locations across Manhattan, including 123 Williams Street in the Financial District and 33 West 33rd Street in Midtown. 

Amanda Schiavo can be reached at aschiavo@commercialobserver.com.