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Marx Realty, a New York-based owner, developer and manager of office, retail and multifamily property across the United States, announced it has signed a 20-year, 6,000-square-foot ground lease with Atlanta-based Chick-fil-A. The existing three-story office building at 1573 Flatbush Ave. in the Midwood section of Brooklyn will be demolished for the fast food restaurant to build its first ground-up, stand-alone New York City outpost.
“The site proved to be a more attractive long-term option for a retail food use and we’re excited to partner with this very popular restaurant group,” said Craig Deitelzweig, president and CEO of Marx Realty in a statement. “The Chick-fil-A store will bring a renewed energy to this bustling neighborhood with this first ground-up New York City location.”
Marx Realty was represented in-house by Henry Henderson and Michael Friedman of Inline Realty and Jeremy Ezra of Newmark represented Chick-fil-A. Rents in the area range from $90-125 per square foot.