Commercial Klutch: June Edition

Our masked correspondent is at it again, slipping his June report in under the wire…BEST BUY plugging into multiple sites in downtown Brooklyn, seeking a strong presence here. Like APPLE, having hard time finding the right space. My bet is on Citypoint site at Fulton/DeKalb corner…Small tenant leasing still strong, with more tenants in the market than space available. DUMBO deals are good, small spaces in Gowanus disappear, Sunset Park action up and DTB has few available options. Looking at $25 to $30 a foot a year except for special situations.

Danny drama at old Martinelli space continues. Asking rent insane. Smart money says do a noodle parlor. No competition and serves both yuppies and movie theater folks. Crazy asking rent 32 Court Froyo space – $12,000/month for 620 sf. Apparently jewelry business around USA still strong, but this strong?

370 Jay above ground nasty station award falling ceiling paint, exposed concrete and steel, slippery steps, confusing entrance layout. When is MTA gonna let go? 82′ wide asbestos-laden column forest upstairs a natural for small tenant offices. Time to get real, deal. City and MTA jointly own site. Please Mayor Mike, get them to give it up like you got the State to give up Brooklyn Bridge park. Puh-leeze!

Be@Schermerhorn Livingston retail price cut to $50’s. Smart. Building public areas very cool, many good deals on units. If banks lending like they were 10 years go before things got out of hand, the condo market would rock. Banks are MIA. Holding back the economy. I guess they want another trillion. Not happening.
Prior Commercial Klutch Posts [Brownstoner]