Sterling Equities, (Sterling), a fully-integrated investment firm with holdings in real estate, media and sports, is demonstrating continued leasing momentum across its Brooklyn retail portfolio, reflecting the demand for high-quality retail space throughout the borough.
Sterling recently closed a new 2,400-square-foot, 15-year lease with JETSET Pilates at its 472 Atlantic Avenue property in Boerum Hill, the studio’s first location in Brooklyn. RIPCO Real Estate’s Alex Beard and Jason Pennington brokered the deal with JETSET Pilates on behalf of Sterling.
JETSET will now be neighbors with The Learning Experience, with 1,846 square feet currently available for lease at the property located on the corner of Atlantic Avenue and Nevins Street. The property is generating strong interest with numerous retail tenants seeking a location within one of Brooklyn’s most coveted neighborhoods and busiest retail hubs.
The property features over 80’ of frontage on Atlantic Avenue, one of New York City’s hottest new throughfares for upscale retail, and offers high foot traffic and excellent visibility, along with close proximity to popular regional destinations such as the Barclays Center.
Sterling is also drawing strong tenant interest in its retail space at 384 Court Street, located within the Carroll Gardens neighborhood of Brooklyn. As second generation restaurant spaces are in high demand in the market, coupled with the prime location, this space is expected to lease very quickly. Carroll Gardens has become one of Brooklyn’s prime shopping districts, home to numerous cafes, trendy restaurants, and chic boutique stores. 384 boasts additional charm with its corner location adjacent to Carroll Park. Alex Beard and Jason Pennington of RIPCO are handling the exclusive listing on behalf of Sterling.
“It’s refreshing to experience an uptick in leasing momentum across our Brooklyn retail portfolio, which reflects both the strength of our high-quality assets and the appeal of the locations,” said Robert Bergman, Sterling. “Interest and tour activity at these properties is the strongest we have seen in several years and we anticipate continued leasing activity in the coming months as the Brooklyn retail market continues to stabilize.”
“As the Carroll Gardens/Boerum Hill markets continues to expand to the south, we are seeing demand on spaces in the part of the market that was not seen just a few years ago,” adds Alex Beard of RIPCO Real Estate. “We look forward to helping establish a new favorite destination for residents and visitors to this this beautiful and historic Brooklyn neighborhood.”
About Sterling Equities
Sterling Equities is an investment firm with holdings in real estate, media and sports. Founded in 1972, Sterling is guided by the values of partnership and civic responsibility. Sterling’s vertically integrated national real estate business encompasses direct ownership of a diverse portfolio including multifamily, industrial, self-storage, retail and office property, in addition to development, investment, lending, asset/property management, and construction management activities. Sterling’s media and sports investments include SportsNet New York, a regional sports network, and its minority ownership position in the New York Mets Baseball Club. For additional information about Sterling Equities, please visit the company’s website at www.sterlingequities.com
About Ripco
Founded in 1991, RIPCO is a full-service firm specializing in retail commercial real estate, combining experience in landlord representation, tenant representation, investment sales, debt and structured finance and property management to advise our clients along every step of their journey. By applying our expertise and a detail-oriented approach to our recommendations, we enable our partners to make wise and educated decisions. Whether urban or suburban, ground up or existing, luxury of off price, the biggest names in retail throughout the US and beyond have turned to us. With over 20 million square feet of retail space leased, RIPCO is a leader in commercial real estate.
