DOWNTOWN BROOKLYN — “There is a ton of retail at this site,� said Amanda Scoblick, a director with Winick Realty. The site she is speaking of is the Myrtle Avenue development of John Catsimatidis and Red Apple Real Estate, where Winick is handling the leasing.

“It is one of the largest retail sites we’re handling and definitely one of Brooklyn’s largest right now,� added Scoblick, who is working as part of a team with CEO Jeff Winick and Frank Terzuli, another director.

As previously reported in the Eagle, the project, at 162-184 Myrtle Ave., between Flatbush Avenue Extension and Ashland Place, is a mixed-use development combining approximately 500 luxury residential units, more than 200,000 square feet of retail space plus underground parking.

It is being built in basically three buildings — low-rise, mid-rise and high-rise — over three city blocks and will have retail along the entire stretch, according to Scoblick, who confirmed that Duane Reade will be the anchor tenant for the lowest rise (east end) building, taking 10,000 square feet. “We just started the marketing of the project, there are no leases out yet,� she said.

The tri-level retail space includes:

• 61,000 square feet at street level with up to 23 foot-high ceilings;
• 79,000 square feet on the lower (below grade) level with 14-foot ceilings; and
• 89,500 square feet on the second floor with 15-foot ceilings.
Noting that the residential units will be high-end, Scoblick said, “I’d say we are looking for moderately priced retailers — some regional chains and some local. But mostly we want to provide core retail services to the residents of the complex and of the neighborhood.�

In addition to the Duane Reade, this includes seeking a supermarket (the Winick team is “talking with one now�), one or more restaurants, possibly an electronics store and a health club that would be open to the public.

The 500 underground parking spaces will also be for the public to use as well as the residents. Dattner Architects, based in Manhattan is designing the complex and is using a combination stone and glass façade to integrate modern and traditional design.

“Brooklyn is booming with new development, and mainstream retailers are finally realizing the importance of the borough as key to their expansion strategy,� commented Winick, adding that the retailers coming to this development will not only benefit from the 500 residential units above, but from the 14,000-plus residential units being developed nearby.

Winick estimates that the project will be completed in mid-2009.

Catsimatidis, whose firm owns the Gristedes market chain, could not be reached by press time Friday, but had told the Eagle in 2006 that he would include a Gristedes.

“We are in the supermarket business and we operate nice stores, so we want to put one there,� he said at the time.

Above all, Catsimatides told the Eagle, he was interested in improving that stretch of Myrtle. “The city wants to improve that area and we want to, too,� he said.

Prior to the start of construction, the commercial strip once had 11 retail tenants serving some large residential complexes like the Ingersoll and Walt Whitman Houses, and the Armory and University Towers.

© Brooklyn Daily Eagle 2007
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