News
British Cosmetics Co's Lease Helps Brooklyn Break $400/SF Mark
Brooklyn leases continue to break records.
Space NK, a UK-based cosmetics retailer, signed a 10-year, 1,350 SF lease at 229 Bedford Ave in Williamsburg. The deal is the first retail lease in the borough to break the $400/SF mark and is, naturally, a borough record.
The previous peak belonged to cosmetics company Rituals Cosmetics, which signed a $325/SF deal at 117 North 6th St.
The recent arrival of trendy, high-end retailers like Apple and Whole Foods has boosted Williamsburg’s rents significantly, the Commercial Observer reports.
Isaacs & Co’s Nick Cowan repped Space NK. Landlord Peter Gillespie was repped by Lee & Associates NYC’s Peter Levitan and Brendan Reichenbacher. [CO]
