Home Neighborhood Retail rent prices are soaring in Downtown Brooklyn

Retail rent prices are soaring in Downtown Brooklyn

188
0
SHARE

Fulton Mall mural at Albee Square

From The Raw Deal, regarding retail rents going up up up in Brooklyn:

Downtown Brooklyn’s Fulton Mall from Boerum Place to Flatbush Avenue remained the most expensive strip with average asking rent of $359 per square foot, up 10 percent from a year earlier.

I doubt anyone is surprised. With the sheer number of chain stores in our zip code, how could the rent not be that ridiculous? Not that I was expecting any mom-and-pop stores in the neighborhood.

Speaking of high rents, has anyone else noticed that nearly this entire block is full of shuttered stores?

Shuttered stores on Fulton Mall

I wonder if the owner(s) are trying to plan some big construction project for this space. Seems crazy to just keep all those retail locations empty, when they’re worth so much.

LEAVE A REPLY

Please enter your comment!
Please enter your name here