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New
York, 05/18/2010 - Residents of the trendy Williamsburg and Greenpoint sections of Brooklyn will soon have yet another restaurant to visit. Robert Shamlian, the owner of Lower East Side haunts,including Spitzers Corner, recently signed a 15 year lease for a long-empty 6,000 square foot ground floor space at 33 Nassau Avenue, between Dobbin and Guernsey Streets. Asking rent was about $30.00 a square foot.
"Nassau Avenue is growing as a retail spot", said Grant Dolgin, the Kalmon Dolgin Affiliates broker who represented both Mr. Shamlian and landlord Flour & Sugar.
"Things seem to be making their way from Bedford Avenue to Manhattan Avenue and that retail area in between is growing".
The pace of that growth, however, still leaves much to be desired. A year ago, Mr. Dolgin was asking close to $50 a square foot for the Nassau Avenue space. He slashed the price by 40% after finding no takers.
Like many properties in Greenpoint, a former industrial hub, 33 Nassau Avenue was once a factory. It produced baked goods. Mr. Shamlians as yet unnamed restaurant and bar will include outdoor seating, and will not open for several mnths, following a massive overhaul.
by: Crains New York Business.com |
