Firm has purchased sites at 2251 Nostrand Avenue and 2927 Avenue U
South Brooklyn is going to get a pair of new retail buildings.
Elliott and Ike Chehebar’s Jackson Group has purchased a pair of sites at 2251 Nostrand Avenue in Midwood and 2927 Avenue U in Sheepshead Bay, and they are planning to build retail projects on both sites, according to the firm.
They bought the Nostrand Avenue site by Brooklyn College and Target for $19 million from Alex Adjmi’s A&H Acquisitions and bought the Avenue U site from Harvey Heino’s Heino Realty for about $8.4 million, according to property records.
The Jackson Group plans to build a 50,000-square-foot retail development on Nostrand Avenue and a 40,000-square-foot retail development on Avenue U, which they purchased together with A&H Acquisitions.
“The demand for South Brooklyn has been very strong,” Elliott Chehebar said, “and we anticipate a very swift lease up and value add to both of these special block front sites.”
Construction should start on the developments in a few months, Chehebar said.
Adjmi declined to comment on the projects.
His A&H Acquisitions and its partners Meral Property Group and Joyland Group previously filed plans for a mixed-use project at the Nostrand Avenue site with 38 residential units across 62,000 square feet. However, Jackson Group’s plan has since supplanted that.