Commercial Klutch: August Edition
Whatever you hear or read, know two things for sure about Apple. They are coming to Brooklyn. But they haven’t made a final decision on the location yet. Anything else is disinformation. You can bet the iPad Mayor Bloomberg on that. And toss in the new 6gig of RAM I bought my daughter recently…More than…
Whatever you hear or read, know two things for sure about Apple. They are coming to Brooklyn. But they haven’t made a final decision on the location yet. Anything else is disinformation. You can bet the iPad Mayor Bloomberg on that. And toss in the new 6gig of RAM I bought my daughter recently…More than one national discount retailer is in market in Downtown Brooklyn. Let’s see which one gets open first! There is said to be a major done deal, but we are under seal as it has a long way to go…Although we had heard Panera was onto 345 Adams, there appears to be no deal yet at that location. Thankfully the landlord is picky and has turned down many interested parties. Fast food and office supply offers well rep’ed already in area. The owners will do the right thing as they always do. On a related note: cool temporary use of 32 Court Street retail (Monroe College) while national tenants decide how long they are going to wait to miss out on our market. Get moving dudes.
Office numbers holding steady for built space: $30-35 on Court, but for 26 Court; $25 on Montague. You’ve heard 205 Montague sold to 200 Montague owners. Rumors of sorely needed executive office suites going into a full or partial floor. Issue is numbers, with former $1,000-a-month price per room in lawyers’ offices now down to $750 in 26 Court, so one wonders how but hopes they can make numbers work. On the other hand, Green Desk is rocking in Dumbo, Creative Space killing it in Gowanus. Badly needed around here too…After a weak spring, June and July strong for both resi and commercial. Surprisingly so. Rentals blowing up. Banks/feds holding back condos, not buyers. Bottom is called.
“Banks/feds holding back condos, not buyers.”– What the hell does this even mean? This means that banks not lending enough, not even like 2001 level, and Federal bank examiners have their feet on the necks of the banks holding them back from lending into r.e. and construction. Means lots of buyers, tough to get financing.
And grandpa, i am talking bout calling bottom on local commercial market, not NYC, region or country. Sheesh.
With all the new housing stock close to the Fulton Mall it’s only a matter of time before bigger stores start to move in at some point.
“The owners will do the right thing as they always do.” The right thing for themselves, you mean. Ever been in Renaissance Plaza? Built as Class B office space, it’s now ten years old. In another ten years it’ll be just another DCAS ghetto.
Gramps was making some sense at 11:35, but then he missed lunch or something, his blood sugar crashed, crazy talk….
uniqlo and h&m have interesting products with forward or trendy designs, and not too expensive. what’s not too like? hardly walmart.
Actually, 11217, He’s not 0-2. H&M opened dozens of stores in premier shopping districts BEFORE they set foot in Brooklyn. That Kings Plaza H&M wasn’t even among the first 20 stores opened in the US.
we all know that it’s inevitable that Downtown’s future is Total Mall-ification.
Maybe not this year, or next year.
But the wheels of “progress” won’t stop spinning.
And by “progress” i mean One Nation Under Walmart.
“Uniqlo is following the H&M expansion plan. They will expand to premier shopping districts in other metros before Downtown Brooklyn.”
H&M already has a Brooklyn location at King’s Plaza and one is currently being constructed in Downtown Brooklyn right on Fulton Mall. You’re 0 for 2, Grand Pa.
“Then again, who would’ve thought a Barney’s Co-op would open a block and a half from the Brooklyn House of Detention?”
Criminals love a discount too.
“Crack pipe talk. Yes, Uniqlo’s second store in North America will be in ghetto Brooklyn, next to a Jimmy Jazz and a Rainbow…”
Actually, 345 Adams is next to a Morton’s Steakhouse and the Marriott, not Jimmy Jazz and Rainbow (which, if I’m not mistaken, are on the other end of the Fulton Mall–further down Fulton than even the H&M that’s under construction).
I realize a Uniqlo (or a Muji or Bed Bath and Beyond) probably won’t happen in that space, but hey, it’s fun to dream.
Then again, who would’ve thought a Barney’s Co-op would open a block and a half from the Brooklyn House of Detention?