Macys

Retail rent prices are soaring in Downtown Brooklyn

Fulton Mall mural at Albee Square

From The Raw Deal, regarding retail rents going up up up in Brooklyn:

Downtown Brooklyn’s Fulton Mall from Boerum Place to Flatbush Avenue remained the most expensive strip with average asking rent of $359 per square foot, up 10 percent from a year earlier.

I doubt anyone is surprised. With the sheer number of chain stores in our zip code, how could the rent not be that ridiculous? Not that I was expecting any mom-and-pop stores in the neighborhood.

A Macy’s Parking Garage No More, Ready for 11 Hoyt

11 Hoyt Construction Site

It can be hard to see from the street, but Macy’s old parking garage is no longer a parking garage. The first step in constructing the next skyscraper being added to Downtown Brooklyn’s skyline, at 11 Hoyt. I shot this photo from our roof on April 14th, 2018, so everyone could get a look at the current progress.