EMP Capital Secures Grocery Tenants for Two Atlantic Avenue Towers in Brooklyn

EMP Capital Group has secured long-term retail leases with two independent grocers at newly completed multifamily buildings in Brooklyn's Prospect Heights neighborhood. Both transactions closed on August 15 with asking rents of $50 per square foot, brokered by MOD Commercial Realty.

CTown Supermarkets took 8,400 square feet under a 20-year lease at 1042 Atlantic Avenue, a 19-story, 237-unit tower finished this year under the name Prosper Brooklyn. Two blocks away, Atlantic Market signed a 20-year, 8,000-square-foot lease at 880 Atlantic Avenue, a 19-story, 257-unit building completed in 2025 known as Eight80 BK. Both retail spaces are scheduled to open in the third quarter of 2027.

The developer utilized New York City's Food Retail Expansion to Support Health (FRESH) program to secure additional floor area and tax benefits in exchange for incorporating qualifying grocery spaces. Both properties are situated within the 21-block Atlantic Avenue Mixed-Use Plan, which the City Council approved in May 2025 to enable roughly 4,600 new residential units.

For urban builders, these deals demonstrate how municipal grocery incentive programs can unlock additional residential density while activating ground-floor retail in rezoned transit corridors.