Brooklyn, NY One Boerum Development Partners, led by Avery Hall, has completed a lease at One Boerum Place to Chopt.
One Boerum Place is a mixed-use new development at the nexus of Brooklyn Heights, Cobble Hill and Boerum Hill. Chopt will occupy 2,148 s/f on the ground floor at the corner of Boerum Pl. and Fulton St., the gateway to the Fulton Mall.
This is the first Chopt location in Brooklyn.
“We are thrilled to welcome Chopt to One Boerum Place!” said Brian Ezra, founding principal at Avery Hall. “Bringing a popular, national food chain to Brooklyn is further proof that interest in quality retail space in a high-end, fully-amenitized building remains strong.”
Esquire Properties represented Chopt in the transaction, while One Boerum Development Partners was represented by Newmark. Ian Lester, Esq. of full-service real estate law firm Lester Shaw & Levy LLC was legal representation for the landlord while the tenant was represented by Robyn Abbate, Esq. of Wiggin and Dana LLP.
Chopt at One Boerum Place is expected to open fall 2024.
New York tri-state multifamily investors are increasingly reallocating capital to less-regulated markets across the U.S. as rent control and legislative risk erode returns at home. With over 60% of New York City’s rental housing stock classified as rent-stabilized, the traditional value-add model — buying under-performing buildings,