pitkin avenue quarterly real estate report fall...
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3 Black Cats
Chinese Restaurant
ZION
TRIANGLE
CHESTER
PLAYGROUND
Pitkin Avenue Quarterly Real Estate Report Fall 2016
Gourmet Deli
1502 Pitkin Avenue 600 SF
Coldwell Banker, 718-921-3100 Available Now
Asking Rent: $2,300
435 Rockaway Avenue Lot Size: 2,500 SF Crossroads Properties, 718-323-1100
For Sale: $999,000
1522 Pitkin Avenue 500 SF
Jesse Gericke (BID), 603-769-0190 Available Now
Asking Rent: $1000
1727 Pitkin Avenue 2,000 SF Contact Property Owner Available Now
Asking Rent: Negotiable
1550 Pitkin Avenue 5,385 SF
Jenel Management, 212-889-6405 x17 Available Now
Asking Rent: $23,000
1744 Pitkin Avenue 1,500 SF
Century 21, Samuel Mizrahi Available Now
718-998-5700, Asking Rent: $3,500
1588 Pitkin Avenue 3,000 SF
Lior Dishi 212-568-2017 Available Now
Asking Rent: Negotiable
1750 Pitkin Avenue 5,000 SF
Century 21, Samuel Mizrahi +Mezzanine
718-998-5700, Asking Rent: $12,000 Available Now
1665 Pitkin Avenue 2,000 SF
Solomon Doeuk, 917-301-7763 + Upper Floor
Asking Rent: Negotiable Available Now
1757 Pitkin Avenue 1,500 SF
Sin Hwa Yang Oh, 917-892-9398 Available Now
Asking Rent: Negotiable
1672 & 1674 Pitkin Avenue 650 SF Pliskin Realty, Mike Dibella Divisible
516-997-0100 Available Now
1761 Pitkin Avenue 1,500 SF Sin Hwa Yang Oh, 917-892-9398 Available Now
Asking Rent: Negotiable
428 Rockaway Avenue 1,200 SF
Solomon Doeuk, 917-301-7763 Available Now
New interior renovation w/ subway tiles!
1764 Pitkin Avenue 3,000 SF Manzoor Patoli, 516-974-3545 Available Now
Asking Rent: $7,000
1764-B Pitkin Avenue 1,500 SF
Manzoor Patoli, 516-974-3545 Available Now
Asking Rent: $4,200
1784 Pitkin Avenue 3,000 SF
Phillip Knoll, 914-260-4867 Available Now
Asking Rent: Negotiable
Questions? Please contact our Business Attraction Director: Jesse Gericke (603)769-0190 / [email protected]
Bring your business to Brownsville’s oldest commercial corridor: Pitkin Avenue! Our district has seen an influx of capital improvements, including: New housing, bike lanes, street furniture, public art installations and community gardens. In the past quarter, the district add-ed three new businesses: De Yi Xuan Chinese Buffet, New Friend’s Gourmet Deli, and 3 Black Cats Café and Cakery.
Bring Your Business to Brownsville!
16 Retail Spaces with over 35,000 SF of available space!
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Pitkin Avenue District Profile
Located in the heart of Brownsville, Brooklyn, the 16 blocks comprising the Pitkin Avenue commercial corridor is filled with both inde-pendently-owned businesses and regional chains that serve Brownsville’s more than 120,000 residents. In the past decade, the vacancy rate has dropped by more than 10% as more businesses are drawn to Pitkin Avenue for it’s affordable commercial rent, growing customer base, and youth culture.
Current Businesses
The Pitkin Avenue corridor resem-bles an outdoor urban mall, dotted with take-out eateries, beauty salons, and discount men’s and ladies apparel. Currently, the most popular business types on Pitkin Avenue are:
23 Take-out & Fast Food
21 Discount Apparel
16 Barber Shops & Salons
12 Shoe Stores
11 Discount & 99 Cent Stores
10 Furniture Stores
Businesses In Demand vs.
Our 2016 BID Consumer Survey found the following business types are in high demand on Pitkin Avenue:
Full Service Restaurants
Gourmet & Healthy Grocery
Banks & Credit Unions
Family Entertainment Centers
Art Gallery & Studio Space
Name Brand Clothing
Pitkin Avenue BID
(718) 922 - 9600
www.pitkinavenue.nyc
Retail Opportunity!
- Full Service Restaurant -
Our consumer survey indicated widespread support (68%) for sit-down restaurants offer-ing Italian Cuisine, Fresh Seafood, Southern Barbeque, and American-style Bar & Grills. We estimate there is $57 million in untapped restaurant sales.
Our 2014 market analysis found that the 1/2 mile Pitkin Avenue trade area is losing $308 million in potential sales to neighboring com-mercial districts.
68%
of residents agree
More Residents, More Customers
Pitkin Avenue population growth rates are strong and projected to continue to grow at a rate of .9% over the next 5 years. New housing construction, includ-
ing the long awaited completion of Prospect Plaza, will add 742 new resi-dential units, housing an estimated 1,800 new residents by 2018. All of these new residents will be within a 1/2 mile of Pitkin Avenue.
In July, former Pitkin BID em-ployee Diana Jimenez and her sisters opened 3 Black Cats Cafe and Cakery on Belmont Avenue. The café offers break-fast pastries, lunch paninis and salads, and custom cakes to order. The sisters share the space with the Dream Big Resource Center, a Brownsville small business mentor and incubator.
In addition to 3 Black Cats Café, we are also excited to announce the opening of these new businesses:
Di Yi Xuan Chinese Buffet
Casa de Reinas Salon and Spa
New Friend’s Gourmet Deli
New Business Spotlight
$308 MILLION
Unmet Retail Demand
Pitkin Avenue Beautification Pitkin Avenue has never been a more attractive place to open a business. Over the course of two years the Transform/Restore: Browns-ville community art project created 5 unique murals on Pitkin Avenue buildings. The project engaged local youth
and business owners and is part of a long term initiative to physi-cally transform the Pitkin Avenue commercial corri-dor into a safe and attractive shopping corridor for residents and visitors alike.
Commercial Rents
The Beacon Prospect Plaza - Phase I Prospect Plaza - Phase II
Pitkin Avenue $35 - $49 SF/year
Gateway Center - East NY $80 - $99 SF/year
Fulton Street - Bed Stuy $50 - $64 SF/year
Franklin Ave - Crown Heights $65 - $79 SF/year
Compared to neighboring commercial districts, retail rent on Pitkin Avenue continues to be one of East Brooklyn’s best bargains: