Tuesday, March 1, 2011

BK Eagle: Tight, Family-Based Ownership Still Rules Fulton Mall

There an interesting article on the new Downtown Brooklyn. Here's a bit from Tight, Family-Based Ownership Still Rules Fulton Mall:

Michael Chera and his Allied Property Group, which owns 523 Fulton, told The Real Deal that he sees Fulton Mall as a “34th Street and Times Square hybrid,” where national chains within reach of the middle class can prosper.

Stanley and Isaac Chera of Crown Acquisitions, who in partnership with Eli Gindi own 490 Fulton and were responsible for bringing Syms/Filene’s Basement to the mall, still have 38,000 square feet of street-level retail to lease.

“In the last 60 to 90 days, interest in the property has intensified immensely,” Isaac told The Real Deal. “I’m on the street at least three times a week with different tenants. They’re doing their homework.”

d more here.