Apple Store Site on Bedford Avenue in Williamsburg Tops out at Two Stories

After a few months of slow progress while the foundation was going in, the first floor is poured and the steel skeleton has reached its full height of two stories at 247 Bedford Avenue, the putative future site of Apple’s first Brooklyn store.

As readers will recall, Apple reportedly signed a long-term lease for a 20,000-square-foot store at the corner pictured above in December, according to the New York Post.

In May, a sign advertising retail space available in the building went up on the corner of the site, causing a Brownstoner reader to wonder if Apple’s plans had changed. We reached out to the brokers at Lee & Associates for comment but never heard back.

RedSky Capital and Waterbridge Capital bought the building for $66,000,000 in 2012. The corner space that is under construction was previously home to a bagel shop.

The retail mix in Williamsburg is evolving rapidly, with significant changes over the past eight months since Apple reportedly signed its lease. A long-stalled site across the street at 242 Bedford Avenue has kicked into high gear, with Whole Foods planning to open there in spring 2016.

Trader Joe’s just signed a lease for a space at 206 Kent Avenue, currently an empty lot, three blocks away, it was revealed Thursday.

Meanwhile, a prime retail location at the corner of Bedford and North 7th is now up for grabs, following the announcement in April that longtime owner Salvation Army is in contract to sell the site to developer Thor Equities for $36,000,000. Years ago, it was rumored that this site at 176 Bedford Avenue would become Brooklyn’s first Apple store.

The previously published rendering, below, shows a building that looks much as it did before construction started. The building is a large one that goes through the block to the other side, with numerous retail spaces and, on the upper floors, apartments.

This corner of the building was completely demolished last year. The rest of the building is still standing, with tenants, including real estate firm Corcoran, still in place. The two-story space on the corner includes what was three or four storefronts and, if cellar space is counted, measures approximately 20,000 square feet.

RedSky Capital specializes in under-the-radar Brooklyn real estate, such as this one, which it operates and develops. It was founded by two Cornell graduates, both named Benjamin: Benjamin Bernstein and Benjamin Stokes.

Waterbridge Capital was founded by ex-Londoner Joel Schreiber in 2006, and first delved into Brooklyn residential real estate, then switched to a focus on commercial properties in Manhattan.

The architect of record appears to be Marin Architects. The firm works in the Tri-State area on medium to large commercial projects for retail, healthcare, hospitality and education.

247 Bedford Avenue Coverage [Brownstoner]
Apple Store Coverage [Brownstoner]  GMAP
Rendering via The Real Deal

The building in 2005, above, when it was home to the Bagel Store and a grocery. Photo by Gregg Snodgrass for PropertyShark