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New York

Upscale eateries wanted for Bed-Stuy retail strip

Bawabeh Realty Holdings would first replace T-shirt vendor, sneaker store, salon

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.

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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

Tags
Bed-Stuy

TRENDING

McDonald’s HQ owner sues Wells Fargo, Bank of AmericaMcDonald’s HQ owner sues Wells Fargo, Bank of AmericaPretium pays $1.5B in D.R. Horton dealPretium pays $1.5B in D.R. Horton dealHarry Macklowe secretly behind move to acquire Midtown office buildingHarry Macklowe secretly behind move to acquire Midtown office buildingLandmark West Loop office building headed to auction blockLandmark West Loop office building headed to auction block
New York

Upscale eateries wanted for Bed-Stuy retail strip

Bawabeh Realty Holdings would first replace T-shirt vendor, sneaker store, salon

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.

Sign Up for the undefined Newsletter

By signing up, you agree to TheRealDeal Terms of Use and acknowledge the data practices in our Privacy Policy.

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

Tags
Bed-Stuy