Esti's, a high-end women's clothing store known for bridal and formal gowns, has signed a 7,800-square-foot lease at 2263 Nostrand Avenue in Midwood, relocating 2.1 miles north from its longtime home at 2067 Coney Island Avenue in Homecrest. The 10-year lease lands the boutique in a brand-new mixed-use building at the corner of Nostrand Avenue and Avenue I, with brokers saying Esti's ownership plans to take occupancy in the first quarter of 2027.
A Rare Find on a Growing Corridor
The deal was reported by Commercial Observer, which detailed the terms and the parties involved. Esti's was represented in negotiations by Momentum Realty Group's Solomon Betesh, Jonathan Lib and Avi Akiva, while landlord CAVU Property Group was represented by Mod Commercial Realty's Eddie Mamiye, Meyer Dagmy and Isaac Bijou. Betesh told the outlet the nearly 8,000-square-foot space was a rare find for Esti's, noting he had been searching for spaces for the retailer for about four or five months before landing on the Midwood site.
Esti's asking rent at the property came in at $65 per square foot, below the published $100-per-square-foot asking rent for Starbucks' 2,000-square-foot lease at 1520 Avenue J in Midwood, Brooklyn, in August 2023, according to a comparison from Traded. Commercial listings describe the ground-floor retail space at 2263 Nostrand Avenue as brand-new shell space, according to a LoopNet listing.
From Vacant Lot to Seven-Story Development
The building Esti's is moving into has its own origin story. CAVU Property Group, whose name is an acronym for ceiling and visibility unlimited, purchased the development site through the entity Nostrand Land LLC for $12.8 million in May 2023, per PincusCo. The developer, led by Steven Hurwitz, then secured a $41.1 million construction loan from Popular Bank in June 2024 to fund construction, with the bank having previously held a $6.5 million land loan on the property, PincusCo reported.
Commercial Observer reports CAVU completed the 67-unit mixed-use building last year. The concrete building was constructed on a previously vacant lot and designed by S. Wieder Architect, a Brooklyn-based firm that has also worked on other recent rental developments in the borough including 2605 Snyder Avenue.
Plugging Into Flatbush Junction's Retail Density
The nearby Flatbush Avenue–Brooklyn College subway terminal is served by the 2 and 5 subway lines. The surrounding Nostrand Avenue commercial strip connects Midwood's largely residential blocks to Flatbush Junction.
Esti's is a high-end women's clothing store known for bridal and formal gowns. The retailer's Brooklyn storefront is at 2067 Coney Island Avenue in Homecrest. With the Midwood lease signed, 2,700 square feet of retail space remains available at 2263 Nostrand Avenue.
