The renowned women's fashion store Esti’s, a long-standing retailer, is moving its operations to a newly developed mixed-use property in Midwood, Brooklyn. The lease for the 7,800 square foot (approx. 725 sq m) space at 2263 Nostrand Avenue was signed on Tuesday. It is a 10-year agreement with an asking rent of $65 per square foot.
The new retail unit, located on the corner of Nostrand Avenue and Avenue I, occupies a significant portion of the retail area within the recently completed property. This leaves only 2,700 square feet available for lease. The building, which features 67 residential units, was completed last year by CAVU Property Group, led by developer Steven Hurwitz.
Strategic Relocation
The planned relocation will see Esti’s move approximately 2.1 miles (approx. 3.4 km) further north from its previous location at 2067 Coney Island Avenue in Brooklyn's Homecrest neighbourhood. The ownership team plans to occupy the new premises at 2263 Nostrand Avenue in the first quarter of 2027, according to the landlord's brokers.
CAVU Property Group, whose name is an acronym for “Ceiling and Visibility Unlimited”, was represented by Eddie Mamiye, Meyer Dagmy, and Isaac Bijou of MOD Commercial Realty. For Esti’s, Solomon Betesh, Jonathan Lib, and Avi Akiva of Momentum Realty Group led the negotiations.
Solomon Betesh stated that he had been searching for suitable space for Esti’s for around four or five months and finally found the perfect solution at this address. The nearly 8,000 square foot space was a rare find for the retailer, especially in the predominantly residential Midwood neighbourhood of South Brooklyn. Esti’s owners declined to comment on the deal.
Parties Involved
- —**Tenant:** Esti’s (Women's fashion store)
- —**Landlord/Developer:** CAVU Property Group (Steven Hurwitz)
- —**Tenant Representatives:** Momentum Realty Group (Solomon Betesh, Jonathan Lib, Avi Akiva)
- —**Landlord Representatives:** MOD Commercial Realty (Eddie Mamiye, Meyer Dagmy, Isaac Bijou)
