The Real Deal New York

J. Crew sewing up lease in Cobble Hill: sources

May 31, 2013 07:30PM
By Adam Pincus

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From left: 151 Court Street in Brooklyn, CPEX's Kristina Triglia and Ryan Condren

From left: 151 Court Street in Brooklyn, CPEX’s Kristina Triglia and Ryan Condren

As part of the further transformation of retail shopping in Brooklyn, the global apparel chain J. Crew is coming to a two-story building in Cobble Hill, according to two people familiar with the transaction.

The retailer signed a 10-year net lease last week for the building at 151 Court Street on the corner of Pacific Street, though some details still need to be ironed out, one person familiar with the deal said. J. Crew would take 2,349 square feet each on the ground floor, lower level and second floor.

J. Crew is not the only national retailer to move into the neighborhood. Trader Joe’s on Court Street and Barney’s Co-op, a lower cost unit of the designer department store, on Atlantic Avenue, are also nearby tenants.

The asking rent for the space was approximately $520,000 annually for a triple net lease, one source said.

Brokers at Schuckman Realty represented the landlord, Arista Real Estate Holdings, sources said. In addition, Ryan Condren and Kristina Triglia, both of CPEX Real Estate, were marketing the space on behalf of Arista.

The tenant was represented by Crown Retail Services and Open Realty, the insiders said.

Crown, Arista and J. Crew did not immediately respond to a request for comment. Open Realty, CPEX and Schuckman declined to comment.

  • thenewsjunkie

    Why would they take over this location when there are so many more high profile, brand new, vacant store fronts within a block or two of this site? It makes no sense. And we love Pacific Green, the produce and grocery story already at that location! There are at least half a dozen vacant storefronts on Atlantic Avenue that are suitable for a J Crew and in much better locations as far as visibility goes. And why not closer to the Fulton Mall area? J Crew is puzzling me.

  • lisa

    i buy my veggies there :(

  • steve

    what a shame to see another store forced out by a sterile retailer

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