Two prominent retail tenants have leased almost 13,000 square feet of space at the Alloy Block in Downtown Brooklyn, a project by Alloy Development. This signals further revitalisation of the retail sector in this dynamic metropolitan area.
The Japanese lifestyle brand Muji, known for homewares and apparel, is the larger of the two new additions. Muji has signed a ten-year lease for 10,000 square feet of space at 100 Flatbush Avenue. This address is part of the broader, five-building, mixed-use Alloy Block complex, as stated by the owner.
Rental Prices and Market View
The offered retail rents in this development are $225 per square foot for ground floor space and $75 per square foot for basement space, according to Alloy Development. Richard Rappaport, President of Muji USA, commented on the choice of location: “Every new Muji store is an investment in the communities we serve. Downtown Brooklyn’s continued growth, diversity, and energy make it an ideal place for us to expand our presence and reach even more customers.”
Negotiations for the landlord, Alloy Development, were led by Chris DeCrosta, Hank O’Donnell, and Madeleine Naro of Goodspace NYC. Muji was represented by Jason Greenstone, Mike O’Neill, Taylor Reynolds, and Lilly Craver of Cushman & Wakefield. Muji plans to open in 2027. Cushman & Wakefield declined to comment on the transaction, while the GoodSpace NYC team did not respond to an immediate request.
Other Prominent Tenants
Additionally, a café and bakery called Winner, run by Michelin-starred chef Daniel Eddy, has signed a ten-year lease for 2,726 square feet of space at the Alloy Block. This is the second location for the concept, which will offer a mix of Parisian and Nicaraguan baked goods. According to Alloy, Winner did not use brokers in the negotiations and will open in the autumn.
As early as March, sports card and collectibles retailer CardVault, co-founded by Tom Brady, opened a 973-square-foot branch at 80 Flatbush Avenue, also part of the Alloy Block. The entire Alloy complex further includes the all-electric tower 505 State Street and One Third Avenue.
