Commercial Klutch: March Edition

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Our masked commercial correspondent does it again…Barney’s Co-op & their smart broker played off multiple landlords in their search for a BK home. Is the lease out? No one will say…Leases are out or signed for tenants at 345 Adams, the City-owned building next to Morton’s/Marriott. Fine food for friends and family?

Yoghurt war casualty # 1 Froyo at 32 Court. Highest rent, worst store…. still sad. Over on Flatbush & Myrtle, who’ll be the first to open a food market? I bet on Toren. Check out the new Choice Market at Jay/York. Love those benches, cut stone walls and ceiling.

Prewar office rents turning up due to lack of space 16 Court just bumped taking numbers up 10% and 26 Court just did a $45 deal with a fancy financial firm for 2500 SF of very special space – harbor views, a bathroom, a dining room and a kitchen! And DUMBO space under 1500 rsf rocking. One a week pace so far this year….

While we get that owners can’t sacrifice $125/foot retail space for vertical transport, rendering upper floor Fulton Mall space useless damn it they should do signage, paint or otherwise cover up. An insult to your customers, rental tenants and Brooklyn itself.

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  • do those upper floors on FUlton not have CofO for residential…or mainly used as storage for the retail at street level.
    Seems not all bad on commercial leasing front.
    Seems that the large commercial space at 378 Baltic (Baltic Tower condo) seems to have been leased…but I can’t figure out by whom.

  • Retail quite active, and national credit tenants back in the market….

    upper floors often completely vacant no or very limited access as stairs removed to create more selling space

  • Wasn’t there a proposal to make those vacant upper floors affordable artists lofts? Seems unlikely, but would love to see that happen.

  • might have been floated but never will happen most valuable selling space in area, they won’t give up floor space for two staircases, renovate space and deal with management of same
    pitkin avenue look, lot of same owners…..

  • “never will happen most valuable selling space in area, they won’t give up floor space for two staircases”

    Sigh…that’s depressing to hear.

    Hard to imagine that the rental income from apartments wouldn’t offset the loss of square footage from the commercial side, but I’m not a numbers guy.

    It’s a real shame the owners let the upper floors get so dilapidated, especially since so many of the buildings on Fulton are architectural treasures.

  • re 345 adams – is the lease out for the entirety of the space running front to back and all the way down to Morton’s?

  • BroolynLove – rumours are two separate -+
    leases for entire first floor…second i don’t know…. given state of building and who owns it (city) i imagine we are looking at 18-24 months before you can eat food there…. luckily Muss Organization which master leases space and Greenstone brokerage are as good as it gets in BK