The Real Deal New York

Luxury retailers, salons, and hotels are coming to Brooklyn, hoping to reach the borough’s increasingly affluent residents. Sanctuary, an Aveda concept salon, opened its fourth Brooklyn store, in Boerum Hill. It’s the first of five retail businesses slated to open in the Atlantic Gardens development. Also in Brooklyn, the Nu Hotel at the Smith, the first luxury boutique hotel in Brooklyn, opened this summer with Manhattan-priced room rates of $469 per night. Upscale businesses bring retail diversity to the borough, experts said, but Brooklyn’s older local businesses will need to change in order to compete.