The New Coney Island - Brooklyn's Times Square by the Sea

Tuesday, July 12, 2016

Sheepshead Bay - Here Come The Chains!

Bay News excerpts -

The way is paved for chain stores.

Landlords along a boarded-up section of Sheepshead Bay Road are intentionally keeping storefronts empty while they wait for big-name retailers to come knocking, a real estate watcher said. The area is in the midst of a massive residential development boom that includes a 28-story condo on nearby Voorhies Avenue, and it’s only a matter of time before nationally known coffee houses and faux-Mexican joints move in, an expert said.

“The supply of residential pushes the demand for commercial — banks, pharmacies, food chains, Starbucks, Chipotle,” said Aliaksandr Svetlakou of Cushman and Wakefield. “Some of the people they are waiting to secure that kind of thing … something with a lease guaranteed by a corporation with a minimum 10 years. That area is very hot right now — they want to play the cards right.”

Dozens of multi-family apartments are under construction in the neighborhood, including four projects six stories or higher within a five-minute walk of the half-shuttered main street, an investigation by this paper showed earlier this year.

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