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Apple inks new lease in Brooklyn

41 Flatbush Ave, Pioneer Building (Credit: Quinlan)

Apple has signed a 14-year lease for 2,766 square feet of retail space at 41 Flatbush Avenue, CO first reported. The ground-floor space is currently being used as a private lounge for employees at the Apple Store down the block at 123 Flatbush Avenue. 

  • Worth Noting: Building and Land Technology and Quinlan Development Group own the 270,000-square-foot office and retail property.
  • Worth Noting: Apple had previously leased the space on a month-to-month basis, but with this deal have made a long-term commitment.  A second tenant, Shady Grove Fertility, signed a 10-year lease for 7,000 SF on the fourth floor of the building for its fertility clinic, CO reported.
  • Flashback: The developers paid $89.4 million for former self-storage buildings in 2015, and subsequently converted it into an office asset (AKA Pioneer Building). Gimlet Media, which was later acquired by Spotify, signed the first lease for the seventh floor (27,000 SF) of the 10-story property in 2017.
  • Landlord’s brokers: JLL’s George Danut and Ryan Condren represented the developers in the retail deals, while Cushman & Wakefield’s Joseph Cirone, Ron Lo Russo, Remy Liebersohn, and Anthony Cugini worked the office deals. 
  • Tenant brokers: GoodSpace NYC’s Hank O’Donnell represented Apple; Shady Grove Fertility was represented by Nicholas Zuppas of Gittleson Zuppas Medical Realty, CO noted. [CO]

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