The Real Deal New York

More retailers heading to Brooklyn condos

May 17, 2010 01:29PM

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In what could be perceived as a sign of recovery, new condo developments in Brooklyn have been luring more retail tenants, filling many buildings’ vacant ground floor spaces, according to Crain’s. At the Edge, a 565-unit Williamsburg condo, CVS pharmacy and a wine shop have signed leases, the building’s first, where asking rent was around $55 per square foot. CVS will use 13,000 square feet in its 20-year lease, while the wine shop, whose lease term is not immediately clear, will take up about 1,800 square feet. At the 240-unit Toren in Downtown Brooklyn, a currently unnamed eco-friendly supermarket is the building’s first retail tenant, having inked a deal for 11,000 square feet. And, at the BellTel Lofts condo conversion nearby, a daycare center is taking up 12,000 square feet of ground floor retail, thanks to a recent lease signing. [Crain's]

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