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?
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.