Tri State Commercial Realty is featured in New York Business Journal article Pharmacy set to open at Coney Island development

 New York City pharmacy has signed a 10-year lease in a new development in Brooklyn’s Coney Island neighborhood.

The pharmacy, which was not identified, will occupy a 2,500-square-foot space at 1601 Surf Ave. and is expected to open within six to eight months.

Asking rent was $8,500 per month.

Tri State Commercial Realty’s Moshe Akiva and Victor Safenia represented the landlord, BFC Partners, and the local operator on the deal.

Akiva said the operator has another pharmacy in Brooklyn and one in Staten Island.

The pharmacy retail deal is part of a three-phase, mixed-use development spearheaded by L+M Development Partners and BFC Partners in Coney Island.

“Phase one is 1921 Surf Avenue with around 400 apartments and 14,000 square feet of retail,” Akiva said. “Phase two is 1601 Surf Avenue, which is 370 apartments and 10,000 square feet of retail. We are not sure yet about phase three.”

Surf Market, a supermarket and home goods store, signed a 10-year lease at 1921 Surf Ave. in December 2022.

“We are reviving the retail here,” Akiva said. “There was no retail here before the supermarket and before the optical store we did on Mermaid Ave. We are slowly changing the neighborhood with everyday essential businesses.”

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