Last year, the people behind Brooklyn Flea and Smorgasburg announced that they'd signed the lease on a 9,000-square-foot space in Crown Heights, inside a larger 150,000-square-foot space, with plans to open
a "food incubator" as well as a beer hall. Now Bloomberg Businessweek reports that the project will feature five vendors from within the Smorgasburg network (not yet announced). These are obviously coveted slots for the vendors, because they would be able to operate year-round.
Brooklyn Flea co-founder Jonathan Butler put up some of his own money to buy the space, but the project is also being financed by Goldman Sachs. A managing director of Goldman's Urban Investment Group explains: "This is exactly the kind of thing we like to invest in." The company invested $25.6 million in the renovation of the space, which formerly housed a Studabaker service station. The new Brooklyn Flea beer hall/food hall project is slated to open by the end of the year.
UPDATE 12:13: An earlier version of this post misstated the size of the space. Brooklyn Flea co-owner Jonathan Butler purchased a 150,000-square-foot property with Goldman, in which Brooklyn Flea's 9,000-square-foot beer and food hall is located. And while there will be a food incubator in the larger property, Brooklyn Flea is not the entity running it.
· Goldman Sachs Backs Brooklyn Flea's New Food Market [Bloomberg]
· All Coverage of Brooklyn Flea [~ENY~]
· All Coverage of Smorgasburg [~ENY~]