Two new supermarkets will be opening on Atlantic Avenue in Prospect Heights, Brooklyn. The grocery stores will be located within two recently completed residential projects by EMP Capital Group, situated just two blocks apart: 880 Atlantic Avenue and 1042 Atlantic Avenue.
The largest transaction involves a 20-year lease for CTown Supermarkets for 8,400 square feet on the ground floor of the 19-storey building at 1042 Atlantic Avenue, also known as Prosper Brooklyn. This building, comprising 237 residential units, was completed this year. In parallel, a new grocer called Atlantic Market signed a 20-year lease for 8,000 square feet on the ground floor of the equally 19-storey building at 880 Atlantic Avenue, which contains 257 units and is known as Eight80 BK. Its completion occurred last year.
The leases were signed on 15 August, and both supermarkets are scheduled to open in the third quarter of 2027, according to broker MOD Commercial Realty. The asking rent for both stores was $50 per square foot. Eddie Mamiye, Meyer Dagmy, and Mike Sutton of MOD Commercial Realty represented both parties in both transactions. Spokespersons from EMP Capital and CTown did not respond to requests for comment; a spokesperson from Atlantic Market was unavailable.
Strategic Development through Incentive Programmes
For both developments, EMP Capital Group utilised New York City’s Food Retail Expansion to Support Health (FRESH) programme. This initiative promotes the construction of grocery stores in underserved neighbourhoods by granting zoning benefits and tax incentives, enabling developers to build significantly larger buildings. The Prosper Brooklyn and Eight80 BK projects also emerged under the Atlantic Avenue Mixed-Use Plan, which was approved by the New York City Council in May 2025.
This plan allows for denser residential development along an approximately 21-block stretch of Atlantic Avenue and aims to encourage the development of around 4,600 new homes, including 1,900 income-restricted units. Eddie Mamiye of MOD Commercial Realty commented that the rezoning of Atlantic Avenue will bring thousands of new units into the neighbourhood. He emphasised that the FRESH programme achieves exactly what it is designed to do: create essential local provision for the neighbourhood's new residents.
Market Overview and Significance
The establishment of these independent supermarkets underscores the growing demand for retail space for local provision in densely populated urban areas, particularly in conjunction with new residential developments. The long-term leases signal confidence in the future viability of the location and the purchasing power of the incoming population.
- —1042 Atlantic Avenue (Prosper Brooklyn): 237 residential units, 8,400 sqft CTown Supermarkets
- —880 Atlantic Avenue (Eight80 BK): 257 residential units, 8,000 sqft Atlantic Market
- —Atlantic Avenue Mixed-Use Plan: Aims for 4,600 new homes, 1,900 of which are income-restricted
- —Lease commencement: Planned for Q3 2027
