Vacant Lot in Boerum Hill Goes Retail
- Jul 23, 2015
A local real estate development company received financial support to spruce up the neglected corner of Smith and Douglas streets in Brooklyn’s Boerum Hill neighborhood.
“Boerum Hill is an exciting and attractive Brooklyn neighborhood with tremendous foot traffic. Those attributes together with affluent demographics have made it a magnet for retailers, and given that context we believe this project should be successful,“ said Josh Zegen, co-founder and managing principal of MRC.
Second Development Services acquired the asset in a joint venture with Son Claire Realty LLC, the land’s existing owner, and now holds a majority interest in the property. According to Curbed, the site was occupied by a group of single-story buildings until 2006, when the structures were demolished.
Commercial Observer reported that the developer plans to transform 232 Smith St. into a 15,000-square-foot, three-story retail building which has been entirely pre-leased by a single tenant. Construction is expected to start this fall and wrap up by summer 2016.
Image via Google Street View