L3 Capital, a Chicago-based private equity firm, welcomes two new retail flagship stores to Williamsburg, Brooklyn. Men's fashion brand Bylt Basics has chosen 108 North Sixth Street, between Berry Street and Wythe Avenue, to open its first permanent New York store. This decision underscores the growing importance of Williamsburg's retail corridor.
Fast-fashion retailer Zara also plans to open a branch in L3 Capital's nearby development at 184-192 Bedford Avenue. Bylt Basics is leasing a 2,085 square foot space at 108 North Sixth Street. Zara's new premises at 184-192 Bedford Avenue will span 22,060 square feet across three floors. There, Zara will join existing tenants such as Intuit TurboTax.
Brokers and Terms
L3 Capital was represented in both transactions by a Newmark team comprising Ariel Schuster, Tyler King, and Michael Paster. MCD Retail with Mitchell Dearman acted on behalf of Zara and Bylt. Representatives for Bylt and Zara did not immediately comment on the enquiries. The asking rent for Bylt's long-term lease was not disclosed. However, retail rents in the nearby 184 Bedford Avenue vary from approximately $550 per square foot on the ground floor to $150 per square foot on the second floor.
Strategic New Developments in Williamsburg
L3 Capital completed the redevelopment of 184-192 Bedford Avenue last year. The previously vacant buildings located there were demolished in 2022. L3 followed a similar approach at 108-112 North Sixth Street, where in 2024 three separate plots were transformed into a two-storey commercial building. Shoe retailer Rothy’s opened there in 2025, and a store for sports fashion retailer Vuori is currently under construction, according to L3’s website.
These properties are part of a strategic portfolio investment by L3. Over the past decade, Williamsburg's retail corridor has attracted a variety of trendy shops and high-end brands once reserved for Manhattan's high streets. Examples include luxury perfumer Le Labo, as well as the combination of Whole Foods and Equinox.
- —Even luxury brand Hermès is opening its permanent Brooklyn flagship store at 111 North Sixth Street in September – a former L3 property acquired by Empire State Realty Trust (ESRT) as part of its recent shopping spree in Williamsburg.
- —L3 has a history of transactions in this Brooklyn borough, a key component of its portfolio of high-quality retail spaces in emerging urban submarkets.
- —The company also acquired the nearby 127 Kent Avenue, which was sold for development to a joint venture of Joyland Group in 2024, and which ESRT acquired as a completed project for $46 million earlier this year.
