It's situated adjacent to a Linens N' Things and New York City's first 24 hour drive-thru location for Starbucks. Projected completion is June 2008 and asking rents are $50 per sf. Rhodes NY and Vista Realty, early movers in the neighborhood, developed the Linens N' Things and Starbucks sites in 1999 and 2004, respectively. The property at 3063 Cropsey Ave. is their third collaboration in Brooklyn.
Approximately "38,000 cars drive by this Cropsey Avenue site daily automatically making this location, which was once overrun with auto repair shops, a new and highly sought after retail area," explains Rhodes NY's Sarah Glatt, noting that while proximity to the highway is a major factor in the location's appeal, the neighborhood demographics can support the retail as well.
Glatt further explains that there are more than approximately 500,000 individuals within a three mile radius of the site, and the average yearly income within the same area is over $55,000. "Having Linens N' Things and Starbucks next to this property also ensures unbelievable traffic and a great co-tenancy for any retailer," Glatt adds.
"The desirable population mix of the area will support additional retail which will further enhance Cropsey Avenue," says Marc Esrig, a principal of Vista Realty Partners. "This part of Coney Island is starting to look like Flatbush Avenue."
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Natalie Dolce
Natalie Dolce, editor-in-chief of GlobeSt.com and GlobeSt. Real Estate Forum, is responsible for working with editorial staff, freelancers and senior management to help plan the overarching vision that encompasses GlobeSt.com, including short-term and long-term goals for the website, how content integrates through the company’s other product lines and the overall quality of content. Previously she served as national executive editor and editor of the West Coast region for GlobeSt.com and Real Estate Forum, and was responsible for coverage of news and information pertaining to that vital real estate region. Prior to moving out to the Southern California office, she was Northeast bureau chief, covering New York City for GlobeSt.com. Her background includes a stint at InStyle Magazine, and as managing editor with New York Press, an alternative weekly New York City paper. In her career, she has also covered a variety of beats for M magazine, Arthur Frommer's Budget Travel, FashionLedge.com, and Co-Ed magazine. Dolce has also freelanced for a number of publications, including MSNBC.com and Museums New York magazine.
