Please excuse the headline. I just couldn’t help myself.
KamaSutra at 1717 Sheepshead Bay Road is closed for good after Superstorm Sandy devastated the storefront.
For some in the neighborhood, its closing is Sandy’s silver lining, considering the fierce opposition when it opened.
Source: Wikimedia Commons
Macerich, the mega-sized shopping center real estate company, has just dropped a whopping $751 million dollars in purchasing the Mill Basin based Kings Plaza Mall (5100 Kings Plaza), according a report in the Wall Street Journal.
Compared to some of the more ultra modern and glitzy shopping centers that are currently in vogue across the nation, Kings Plaza falls short, however the prime location and high foot traffic made it an appealing investment.
Because of the difficulty in developing new real estate in a dense city like New York, the threat of competition from new malls is practically nil.
“They’re both in urban or semiurban environments where it would be very difficult to replicate them,” Dan Fasulo, managing director of real estate research company Real Capital Analytics, told the Wall Street Journal. “That creates tremendous scarcity value.”
Kings Plaza also generates $650 per square foot in sales annually, compared to the $370 industry average, a result of New York’s dense population. Even still, Macerich still plans to replace stores with lower revenue streams with higher-end outfits, however no details were given.
In addition to the $751 million spent on Kings Plaza, the Macerich Company also spent $500 million on the Green Acres Mall in Valley Stream, bringing Macerich’s investment total in the area to a staggering $1.25 billion dollars. Both units were owned by Vornado Realty Trust, who intends to leave the mall business altogether.
Photo by Brian Hoo
Sandwiched in between Chinese take-out place New Win Way and the Kiev Bakery, a defunct Coney Island Avenue furniture store has given way to a brand new supermarket, Oasis Mega Market.
The defunct furniture store that has made way for Oasis Mega Market. Source: Google Maps. Click to enlarge
Located at 2828 Coney Island Avenue between Z and Kathleen Court, Oasis appears to still be under construction.
Our tipster and roving photographer, Brian Hoo, speculates that it might be a Middle Eastern market, while the store’s sign indicates that Oasis will be a purveyor of fruits, vegetables, breads, cheeses, meats, dairy… and kebabs.
Hoo also tells us that, around 10 years ago, before the furniture store occupied the space, another small supermarket operated in that space.
The long-shuttered Off Track Betting storefronts at 2901 Avenue U will soon have a new tenant: discount savings store Telco.
That should be good news to those who miss Nostrand Avenue’s Dee & Dee, as the companies follow similar models, selling low-cost clothing, housewares and assorted knick knackery.
The opening will mark Telco’s fifth Brooklyn location, and tenth store overall. According to their website, Telco was established in Bensonhurst in 1972, and we at Sheepshead Bites are happy to welcome the latest location of a growing Brooklyn-born chain.
Thanks to John Hampton for the photo, and to all the other readers who tipped us off to this!
Some local businesses expand faster than others, and Luv My Vision Optique, the high-end eyewear vendor that opened at 1702 Sheepshead Bay Road in April, wasted no time: they opened a second location in Brighton Beach in September.
We got our first glance of it last week when we snapped this photo of their new storefront at 302 Brighton Beach Avenue. The business celebrated its grand opening with a ribbon-cutting on September 14.
Good to see local businesses doing well enough to expand so quickly. Way to go, Luv My Vision, and good luck on the new venture.
Kings Chapel. Source: Google Maps
Find incredible bargains on clothes, furniture, kitchen items and more during a yard sale hosted by the Kings Chapel, October 6 from 9:00 a.m. to 2:00 p.m. at the chapel, corner of Quentin Road and East 27th Street.
Funds raised from the sale of table and lawn spots will be used towards critically needed repairs of Kings Chapel’s roof and foundation.
Vendors: Reserve a seller’s table by October 5 for $15. Lawn spots are $10. In the event of rain, the yard sale will be rescheduled for October 13 from 9:00 a.m. to 2:00 p.m.
For more information, contact Jason at (917) 207-4048 or email firstname.lastname@example.org.
Source: colros / Flickr
More than 20 families will be joining forces to hold a garage sale with “something for everyone,” on two consecutive weekend days — September 22 and 29 — from 9:00 to 6:00 p.m. on Brigham Street between Avenue W and Avenue X.
The multi-family garage sale will feature household items, clothing, hardware, tools, toys, glassware, electronics and “computer stuff.”
So come on down and get your local bargains on!
As the closing nears, shelves are emptying.
After 30 years in business, Brighton Beach’s Met Foods supermarket is closing its doors in just two more weeks, leaving neighborhood seniors distressed about future food-shopping endeavors.
The supermarket, located at at 100-120 Brighton Beach Avenue, is being replaced by a modern two-story office and retail complex. Rather than housing a different convenience store, the new complex will be open to a variety of vendors that will be able to sublet office-sized space, with retail on the ground floor.
But Brighton Beach locals are unenthusiastic about the change. Many Met Foods customers are worried about the inconvenience that this close will cause on the elderly population residing in the community.
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Veronica Design & Alyona Subbotina, a new bridal shop, is now open at 1665 Sheepshead Bay Road.
The business opened sometime in August, but hasn’t yet installed a sign. (See update below)
According to the business’ website, Veronica Design & Alyona Subbotina is a Manhattan-based designer with stores in Manhattan, Philadelphia and Germany (and, now, Brooklyn).
UPDATE (10/9/2012): At the request of the owner, we’ve added a new photo at the top of this post that has the business’ sign, installed days after our report. The original photo is below.
The Kings Highway Business Improvement District is kicking off its second annual Fasion’s Night Out event tomorrow at 6:00 p.m.
Fifteen fashion-related businesses are getting together to offer special promotions, live music and refreshments at locations all along the business strip, tying in with the kickoff of the citywide Fashion Week.
It’s a larger showing than last year, said Kings Highway BID Executive Director Phil Nuzzo. Last year, the event’s inaugural, featured 10 businesses, but the success made it more popular with the business owners.
“Everyone did well last year, so they said ‘Do it again this year!’” Nuzzo said. “It speaks for itself. It’s the fashion [industry's week], and people come to Kings Highway for clothing.”
See the flier above for a list of participating businesses and other details.