Capital One Signs a Lease at Franklin and Eastern Parkway

Capital One Bank plans to set up shop in the ground-floor retail space at 341 Eastern Parkway, the big new apartment building under construction on the corner of Franklin Avenue in Crown Heights. Crain’s reports that the bank signed a 10-year lease for $100 a square foot, a surprisingly high price for retail on the Franklin Avenue corridor.

Capital One will occupy 3,000 square feet of the development’s 7,533 square feet of retail space, and a second unnamed business is in negotiations for the rest of it. Designed by the Meshberg Group, the eight-story development will have 65 apartments when construction wraps this summer. The building will be rentals and should be finished by May or June, according to Adam Meshberg.