Retail

From The Raw Deal, regarding retail rents going up up up in Brooklyn:

Downtown Brooklyn’s Fulton Mall from Boerum Place to Flatbush Avenue remained the most expensive strip with average asking rent of $359 per square foot, up 10 percent from a year earlier.

I doubt anyone is surprised. With the sheer number of chain stores in our zip code, how could the rent not be that ridiculous? Not that I was expecting any mom-and-pop stores in the neighborhood.

We’re getting a fancy gym. Chelsea Piers Fitness is coming to Downtown Brooklyn. The “showroom” is now open for new members. I heard through the rumor mill that “founding member” prices are about $150 per month, and that price will go up once the gym actually opens. That puts this gym in roughly the same category as Crunch, Equinox, or (RIP) David Barton.

The Bridge, on the plethora of chain stores opening in NYC (emphasis ours):

Last year, Brooklyn saw the biggest percentage increase in the number of chain stores of all the city’s boroughs, with 1,587 locations, a 3.1% increase from the previous year, according to a December report from Center for an Urban Future. The greatest concentration of these stores is in zip code 11201 (Brooklyn Heights/Downtown Brooklyn), which has 145 national retailer locations including City Point’s Target, Fulton Street’s H&M, and Sephora on Joralemon Street.

The Urban Land Institute New York (ULI NY) award ceremony was on April 10th, and a few of our very own buildings were among the winners (emphasis theirs):

Some of this year’s winners from Brooklyn included Dumbo-based Two Trees Development, which nabbed the Excellence in Market-Rate Housing Development award for their breathtaking 300 Ashland building, which is already being regarded as iconic as part of the BAM Cultural District.