Jackson Group planning pair of retail projects in South Brooklyn

Firm has purchased sites at 2251 Nostrand Avenue and 2927 Avenue U

TRD New York /
Apr.April 04, 2019 02:30 PM
2927 Avenue U in Sheepshead Bay (left) and 2251 Nostrand Avenue in Midwood (right)  with Jackson Group's Elliott Chehebar

2927 Avenue U in Sheepshead Bay (left) and 2251 Nostrand Avenue in Midwood (right)  with Jackson Group’s Elliott Chehebar

South Brooklyn is going to get a pair of new retail buildings.

Elliott and Ike Chehebar’s Jackson Group has purchased a pair of sites at 2251 Nostrand Avenue in Midwood and 2927 Avenue U in Sheepshead Bay, and they are planning to build retail projects on both sites, according to the firm.

They bought the Nostrand Avenue site by Brooklyn College and Target for $19 million from Alex Adjmi’s A&H Acquisitions and bought the Avenue U site from Harvey Heino’s Heino Realty for about $8.4 million, according to property records.

The Jackson Group plans to build a 50,000-square-foot retail development on Nostrand Avenue and a 40,000-square-foot retail development on Avenue U, which they purchased together with A&H Acquisitions.

“The demand for South Brooklyn has been very strong,” Elliott Chehebar said, “and we anticipate a very swift lease up and value add to both of these special block front sites.”

Construction should start on the developments in a few months, Chehebar said.

Adjmi declined to comment on the projects.

His A&H Acquisitions and its partners Meral Property Group and Joyland Group previously filed plans for a mixed-use project at the Nostrand Avenue site with 38 residential units across 62,000 square feet. However, Jackson Group’s plan has since supplanted that.


Related Articles

arrow_forward_ios
Charles Rettig, Commissioner of the IRS (Getty)

Opportunity Zone rule change seeks to entice foreign investors

Opportunity Zone rule change seeks to entice foreign investors
Larry Korman (Photo by Emily Assiran)

The self-lockdown lifestyle of AKA’s Larry Korman

The self-lockdown lifestyle of AKA’s Larry Korman
Renderings of the project and Gil Dezer (Getty; Renderings via  Zyscovich Architects)

Dezer’s 30-acre megaproject in North Miami Beach gets first approval

Dezer’s 30-acre megaproject in North Miami Beach gets first approval
Mayor Bill de Blasio (Getty)

Business owners request Open Restaurant plan for retail

Business owners request Open Restaurant plan for retail
The proposal to rezone Industry City in Brooklyn was unveiled five years ago, but collapsed under political pressure (Courtesy of Industry City)

Here’s how Industry City’s controversial rezoning unraveled

Here’s how Industry City’s controversial rezoning unraveled
731 Lexington Avenue and 410 East 61st Street (inset) with Vornado's Steve Roth (Googel Maps; VNO)

Home Depot eyes former Bed Bath & Beyond space on First Ave

Home Depot eyes former Bed Bath & Beyond space on First Ave
Ian Schrager and the Pulic Hotel at 215 Chrystie Street (Getty; Google)

$60M mezz loan on Ian Schrager’s Public Hotel is for sale

$60M mezz loan on Ian Schrager’s Public Hotel is for sale
J.C. Penney at the Westfield South Shore mall in Long Island and  J.C. Penney CEO Jill Soltau (Google Maps; Getty)

J.C. Penney to keep Bay Shore outpost open for now

J.C. Penney to keep Bay Shore outpost open for now
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...