While 5th Avenue Key Food Could Be Lost, Pricey Union Market And Spinning Gym To Open New Locations At 342 Flatbush Avenue

Are you ready for another high-end grocery store where you can get your gourmet cheese fix?

How about a spinning gym that exists upstairs from that cheese which will offer a 45-minute class for about $1.32 per minute?

The building at 342 Flatbush Avenue (between Sterling Place and 8th Avenue) may not look like much now, but Union Market and SoulCycle will both be opening outposts within the next two years, according to Commercial Observer.

Josh Augenbaum of Augenbaum Realty, who represents the two new tenants, says that Union Market will reside on the first floor of the building. A second floor will be constructed, which will house SoulCycle.

Augenbaum would not provide Commercial Observer with the specific terms of the contract, but did say that both leases last for at least a decade.

While this deal was announced months ago, the concern for affordable groceries in the neighborhood has taken on a more pressing tone since it was announced that the 5th Avenue Key Food parcel (120 5th Avenue at Sterling Place) was purchased by Avery Investments. An advocacy group was formed soon after with the goal of “keep[ing]  affordable food for the community in the north Slope.”

While Avery Hall Investments spokesperson Ethan Geto told us that the company is “very seriously considering incorporating a grocery store into the planned development,” it is unclear whether the price of groceries would be similar to those at the current Key Food.

The new Union Market will be the third location in the Park Slope area. The other two stores are at 754-756 Union Street (at 6th Avenue) and 402-404 Seventh Avenue (at 13th Street).

The new SoulCycle location will join 17 other New York City locations, including current Brooklyn studios in Brooklyn Heights and Williamsburg. You can purchase a single class for $34, or a 50-pack of “Hamptons Super Soul” classes for $4000.