
Brooklyn, NY According to Verada Retail, Baker Pediatrics has signed a new long-term lease for 4,000 s/f at 510 Driggs Ave. The space was listed at $165 on grade and $65 subgrade. The landlord, Northlink Capital, was represented by Nathaniel Mallon and Brendan Thrappe, managing partners at Verada Retail.
Northlink Capital is a privately-held real estate investment and development company that builds and acquires in all areas of real estate. Headquartered in New York City, Northlink’s portfolio includes office, retail, and luxury residential properties across Brooklyn and Manhattan.
Baker Pediatrics provides residents with a holistic wellness center focused on offering unparalleled resources, including state-of-the-art technology and on-site testing, as well as concierge service and comprehensive care coordination.
Baker Pediatrics will join two existing tenants – The Learning Experience, an academy for early education, and Boris & Horton, a dog-friendly café.
Mallon said, “This is a fantastic co-tenancy. We sought out an operator with experience and skill, and I think it could not have worked out better. Adding Baker Pediatrics next door to a top-notch early education provider like The Learning Experience just makes sense. This is a great win for the neighborhood, ownership, and operators. We wish them the best of luck.”
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,