Shake Shack in talks to open first Williamsburg outpost

Danny Meyer chain is among several craving space at BrooklynBoss' 661 Driggs

TRD New York /
Oct.October 27, 2015 04:45 PM

Shake Shack is eyeing a Williamsburg outpost at a two-story building just off Metropolitan Avenue, sources said.

Danny Meyer’s popular burger chain has expressed interest in the 11,500-square-foot property at 661 Driggs Avenue, but is one of several prospective tenants in talks for the space, according to insiders familiar with the negotiations. Other restaurants and fashion brands have also checked it out.

BrooklynBoss Properties, a Soho-based retail-focused investment firm, acquired the building in July for nearly $5.7 million, or north of $1,000 per square foot. There is 4,300 square feet on the ground floor and 15,500 square foot of buildable space overall.

Dennis McCormack, a managing partner at BrooklynBoss, said the firm would renovate the building to fit the tenant. Depending on the tenant’s space needs, BrooklynBoss is considering adding an extra floor to include a residential component, said McCormack, who declined to comment on the status of negotiations.

Asking rent for the building’s retail is about $135 per square foot, McCormack said.

For years, the property housed Puccio Marble & Onyx, a wholesaler of building supplies. The Puccio family owned it for more than 45 years, records show.

CBRE’s Jeremy Scholder and Dean Rosenzweig are representing Shake Shack, while Francesco Bardazzi of PD Properties is representing BrooklynBoss. Representatives for CBRE and Shake Shack declined to comment.

Shake Shack has three Brooklyn locations – in Dumbo, Downtown Brooklyn and Park Slope. News outlets reported in 2014 that Shake Shack was coming to North 4th Street and Berry Street, but a spokesperson at the time denied it.

The company, which has more than 50 locations worldwide, signed a lease last year for a 3,265-square-foot space at Empire State Realty Trust’s 1333 Broadway in Herald Square, slated to open in 2016.

BrooklynBoss’ holdings in the neighborhood include 317 Wythe Avenue, 276 Grand StreetAnd 47 Grand Street. In August, Peruvian restaurant Brasa signed a lease at 317 Wythe, where the rent is $117 per square foot, McCormack said.

Related Articles

329 Broadway and JLJ CEO Jonathan Lewis (Credit: Syndicate Architecture via CityRealty, Google Maps)

Williamsburg developer lands $57M refi to complete 329 Broadway

Who needs New York? Garden State multifamily portfolio trades for $146M

How much for that CVS building? In Greenwich, the price is $30M

Vineyard Vines HQ sold in Stamford, Avon inks Rye deal & more Westchester and Fairfield real estate news

Mack-Cali sells Paramus office property, Murphy enacts land bank reforms & more North Jersey real estate news

New heights for Everest as insurer inks North Jersey’s largest lease deal of 2019

Multifamily properties trade in Bridgeport, Toll Brothers buys in White Plains and more Westchester & Fairfield real estate news

Have no fear? Debt brokers say Deutsche Bank quelled concerns about real estate lending