Muss Buy: 345 Adams Retail Floors
Muss Development has officially sealed the deal with city for the space in 345 Adams Street that the firm intends to lease out to big-name retailers. Muss paid the Economic Development Corporation $5.77 million, according to public records, for the 35,000 square feet over two floors that the company is putting $18 million into renovating….
Muss Development has officially sealed the deal with city for the space in 345 Adams Street that the firm intends to lease out to big-name retailers. Muss paid the Economic Development Corporation $5.77 million, according to public records, for the 35,000 square feet over two floors that the company is putting $18 million into renovating. Muss says it wants to lure two high-end tenants to the space, which until recently was mostly occupied by some Department of Finance offices. (The image above is what it’ll look like after the rehab.) 345 Adams is next door to the Marriot and the future Morton’s Steakhouse.
Developer to Air Out 345 Adams Street [Brownstoner]
Vespa dealer
Tube socks. Endless bags of tubesocks.
they need to blow that wall out entirely and make the corner space a mini cooper dealership. now that would be ridic.
3:58, agreed, except that in order for those businesses to be successful he needs the 50,000 folks that live and work in the immediate vicinity that make in excess of $100k a year to support those businesses, not just the 500 or so guests that are at the Marriott at any given time. Not one or the other…both.
Q: “Hotels guests…judges and lawyers from the nearby courthouses….brooklyn heights residents….what’s the difference?”
A: If Muss can keep more of his guest’s dollars in establishments that rent from him, he creates a synergy that is more financially benefitial to himself, as opposed to dollars spent on Montague or Smith Street or in Manhattan. That’s the difference.
It’s only a question of time at this stage before Fulton Mall upgrade (a la H&M). After all, I think that area is rapidly approaching a ‘critical mass’ or wealth.
Hotels guests…judges and lawyers from the nearby courthouses….brooklyn heights residents….what’s the difference? They clearly intend to cater to a more upscale demographic than the demo that the Fulton Mall currently caters to.
“$5.77 million”
Steal, no?
“Muss Development has officially sealed the deal….” When did this go through ULURP? Two years ago?
My prediction is that Muss will look for tenants that will cater to hotel guests.