Williamsburg biz takes 53% more space to meet demand

Medly Pharmacy takes 44K sf after initially planning smaller lease

TRD New York /
Apr.April 07, 2020 08:00 AM
46 Cook Street in Brooklyn (Credit: Google Maps)

46 Cook Street in Brooklyn (Credit: Google Maps)

A digital pharmacy significantly increased the size of its new lease in Williamsburg because of the coronavirus pandemic, according to sources familiar with the deal.

Medly Pharmacy recently inked a 43,500-square-foot lease at Express Builders JB’s 46 Cook Street for $45 per square foot, according to sources familiar with the deal. The firm initially planned to lease 28,500 square feet at the building but added about 15,000 more to deal with an anticipated increase in demand for its services, sources said.

The Williamsburg location will serve at the company’s headquarters.

Tri State Commercial Realty’s Shlomi Bagdadi, Dov Bleich and Avi Akiva

Tri State Commercial Realty’s Shlomi Bagdadi, Dov Bleich and Avi Akiva

Tri State Commercial Realty’s Dov Bleich, Avi Akiva and Shlomi Bagdadi brokered the deal for both sides. They declined to comment on the transaction.

Medly Pharmacy focuses on online processing and same-day prescription deliveries. With the coronavirus pandemic forcing people across the country to stay home, the company anticipates a bigger demand for those services, sources said.

Representatives for the pharmacy did not respond to a request for comment.

Prolific Brooklyn builder Joel Braver is behind the mixed-use project at 46 Cook Street, which was completed in 2018 and also includes 45 residential units. Braver declined to comment.

The Real Deal rated Braver’s construction company as the 18th most active general contractor in the city in its 2017 ranking. His other projects include a 14-unit residential building at 219 Hudson Street in Manhattan and a 562-unit residential building at 1580 Story Avenue in the Bronx.


Related Articles

arrow_forward_ios
(Getty, iStock)

Hundreds of storage units in New York heading to auction

Hundreds of storage units in New York heading to auction
Gov. Andrew Cuomo and Mayor Bill de Blasio (iStock)

Manhattan theaters sue Cuomo, de Blasio over Covid restrictions

Manhattan theaters sue Cuomo, de Blasio over Covid restrictions
Bozeman, Montana

Montana’s real estate market shows no signs of cooling heading into winter

Montana’s real estate market shows no signs of cooling heading into winter
An aerial view of a pop-up drive-in theater built in the parking lot at the Broadway Commons in Hicksville, New York (Getty)

Covid pummeled shopping centers, but their parking lots are thriving

Covid pummeled shopping centers, but their parking lots are thriving
The number of mortgage borrowers in Covid-19 forbearance plans ticked down again this week. (iStock)

3M homeowners remain in forbearance

3M homeowners remain in forbearance
Mayor Bill de Blasio and the Lucerne Hotel at  201 West 79th Street (Getty; iStock; Google Maps)

Lawsuit blasts NYC’s “capricious” Covid-19 homeless response

Lawsuit blasts NYC’s “capricious” Covid-19 homeless response
Gap CEO Sonia Syngal (Getty)

Gap Inc. will close 350 stores and exit malls entirely

Gap Inc. will close 350 stores and exit malls entirely
(iStock)

Dead weight: A breakdown of NYC’s rental listing glut

Dead weight: A breakdown of NYC’s rental listing glut
arrow_forward_ios

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

Loading...