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September 28, 2012

Post: many more food and beverage spots moving near arena

Atlantic Yards Report

Anyone walking around and near the Barclays Center, especially on the Flatbush Avenue side, can see there are empty retail spaces--or non-consumer ones--that are surely to be transformed. The New York Post reports, in Eateries in mad dash to Barclays ’hood:

With rap mogul/Nets co-owner Jay-Z christening the venue with an eight-night concert run starting tonight, Danny Meyer burgers-and-fries joint Shake Shack plans to soon move into prime Flatbush Avenue real estate across the street from the 18,200-seat arena, sources said.

Landlord Michael Pintchik refused to comment on the deal but confirmed two other restaurants were coming to nearby Flatbush Avenue property he owns by Dean Street that should also have foodies salivating.

The owners of super-trendy Delicatessen and Macbar in Manhattan are opening an offshoot eatery called Elbow Room a block away on Flatbush Avenue that also specializes in gourmet mac-and-cheese dishes.

Moving in next door will be a Texas-style barbecue joint “featuring a top pitmaster from Austin, Texas,” Pintchik said.

More than a dozen other new eateries are also in the works within three square blocks of the arena.

That's a little confusing, because there's a place called Elbow Room in the arena, on Atlantic Avenue.

See the Post for more, including reports of a tripling of retail rents.

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NY Post, Eateries in mad dash to Barclays ’hood

Yearly leasing rates on commercial space near Barclays Center ran about $55 to $65 a square foot when the arena broke ground in 2010, but now runs roughly $160 to $200, local brokers and property owners said.

“Every landlord was of the firm belief that the Messiah was coming and [Barclays Center] would drive up property values,” recalled Timothy King, a managing partner at CPEX Real Estate Services.

NoLandGrab: They were expecting the Messiah and all we got was Bruce Ratner?

Posted by eric at September 28, 2012 11:03 AM