A radical new ploy to lure Google and other firms to Brooklyn
When apartment landlords have empty units, they lure prospective tenants with cheaper rents and free perks. Office landlords haven’t historically offered such grand concessions to fill vacant square footage — until now. The New York City real-estate developer Rubenstein Partners is willing to offer a nearly 50% discount on rent and more flexible terms than… Read more »
Chicago ramen restaurant Urbanbelly coming to new Williamsburg Market
Chicago-based Cornerstone Restaurant Group, best known for Michael Jordan’s Steak Houses, is set to bring its beloved ramen restaurant Urbanbelly to Williamsburg next month. The new restaurant — an expansion for Urbanbelly, at home in Wicker Park — will be located in the new Williamsburg Market, coming soon to 103 N. Third Street. The Kings… Read more »
Commercial Real Estate Is Slowing Down in Q3 2022
After the strong rebound for the U.S. economy in 2021, growth in 2022 has slowed in the face of rising inflation, the household income squeeze, and geopolitical events. While the economy continues to deal with elevated inflation, data shows a slowdown in the growth of commercial real estate. Demand for apartments and office spaces is… Read more »
Innovation QNS Development Gets Nod From City Planning Commission
The New York City Planning Commission approved plans for a 2.7 million-square-foot mixed-use development in Astoria, Queens, dubbed Innovation QNS, even after the project was shot down by the borough president and local community board. City Planning approved the plan by a vote of 10 to 3 on Wednesday morning, with City Planning Commission chair… Read more »
Affordable grocery chain Lidl to expand into Brooklyn at site of former Park Slope Key Foods
Lidl, a budget-friendly grocery store, is scheduled to arrive in Park Slope in 2024— as the center of a mixed-use development in place of the former Key Food on Fifth Avenue. The German grocer signed a lease with developers William Macklowe Company and Senlac Ridge Partners for its first Brooklyn outpost at 120 Fifth Avenue,… Read more »
The Commercial Real Estate Market: Crash, Train Wreck, Or Apocalypse?
Dire warnings about commercial real estate appear almost daily these days. While office markets are stressed due to increased working from home, some real estate professionals see an increasingly bifurcated market, divided “into haves and have-nots.” Investors, renters, and cities—especially those with older, declining buildings— will need to pay close attention in the coming months… Read more »
After Slowdown in Property Sales, ‘Repricing’ Becomes This Summer’s Dreaded Word
Summer lulls are nothing new in commercial real estate, but this year’s slowdown in deals is more pronounced because of one word that has defined the season: repricing. Rising interest rates, inflation and worries of a recession have caused a reset on prices, prompting sellers to accept a less satisfying price or pull properties from… Read more »
The Coffee Bean & Tea Leaf Expands to New York Area, Starting With Store in Fort Greene
The Los Angeles-based specialty beverage brand The Coffee Bean & Tea Leaf is expanding to New York, with the first store having opened Aug. 28 in the Brooklyn neighborhood of Fort Greene. Franchisee Hudson River Coffee & Tea plans to open a number of stores across the New York metro area, including a second Brooklyn… Read more »
This Brooklyn Pizza Is the 2nd Best In The Country
Nine Brooklyn spots and 22 NYC eateries made this year’s list of the 101 best slices across the U.S., but only one took the runner-up rank. Lucali, a Brooklyn pizza joint on Henry Street in Carroll Gardens, has nearly dethroned Connecticut’s long-reigning pizza champ, jumping ranks to land in second place in The Daily Meal’s… Read more »