The Real Deal New York

Upscale eateries wanted for Bed-Stuy retail strip

Bawabeh Realty Holdings would first replace T-shirt vendor, sneaker store, salon
September 08, 2014 11:00AM

Brooklyn-based developer Bawabeh Realty Holdings plans to convert the retail component of Six Properties Along Fulton Street in Bedford-Stuyvesant into a strip of upscale restaurants and boutique shops.

Bawabeh would first replace the current tenants – a T-shirt vendor, sneaker store, beauty shop and nail salon – that occupy the 1,000-square-foot, ground-floor spaces at 1347-1353 and 1359-1361 Fulton Street between Marcy Avenue and Verona Place. One of the retailers, New York French Cleaners, hoped to sign a long-term lease next year.

Broker Robert Earl of the Inhouse Group is handling marketing for the landlord, according to the New York Daily News. Asking rents are expected to be $50 to $55 per square foot for the new retail tenants.

Earl told the Daily News that the residential tenants are not being asked to vacate.

In February, Bawabeh sold a 428,550-square-foot vacant parcel near the Gateway Center in East New York for $40 million after scrapping plans to build a big-box retail complex, as The Real Deal reported. [NYDN]Mark Maurer