The recent shift at Court Street Bagels in Cobble Hill has left both the community and the previous owner, Mr. Eulo, in a state of bewilderment. This unexpected change is just one of the many twists in a complex narrative filled with unanswered questions surrounding the beloved local bagel shop.
So, what exactly led to this change at Court Street Bagels?
The core of the Court Street Bagels situation is a complicated mix of real estate dealings and disagreements over the lease. The key event was the property sale at 181 Court Street in July 2020 to Conway Capital, headed by President Abe Cohen. This sale set off a chain of events that ultimately resulted in Mr. Eulo’s departure from Court Street Bagels.
According to sources close to the situation, and confirmed by Mr. Eulo, several factors contributed to this transition. Starting in 2021, Mr. Eulo encountered difficulties in keeping up with rent payments. This issue was then intensified by a significant rent increase reportedly imposed by the new landlord, Conway Capital.
Concurrently, the landlord began discussions with potential new tenants for the Court Street Bagels location. Mr. Adam Alsoora, a partner at Smith Street Bagels, a significant competitor in the Cobble Hill area, finalized a lease agreement in May 2023. This lease was contingent on Mr. Eulo vacating the premises.
Ultimately, Mr. Eulo and the landlord reached an agreement. In exchange for leaving the Court Street Bagels location, Conway Capital would forgive Mr. Eulo’s accumulated debt from unpaid rent. Once Mr. Eulo handed over the keys on Sunday, the space was immediately given to the new operators.
Given that the new management aimed to continue operating a bagel shop at this location, employees were instructed to proceed with running Court Street Bagels as they usually would. This development took Mr. Eulo by surprise, and in turn, Mr. Eulo’s surprise caught Mr. Alsoora off guard, who had expected a smoother transition for his team to take over the bagel shop operations.
Efforts to reach Abe Cohen and Conway Capital for comments were unsuccessful.
In conclusion, it appears Court Street Bagels will remain a fixture in Cobble Hill, albeit under new ownership. For the time being, the bagel scene in Cobble Hill will continue largely unchanged, offering the community their familiar bagels from Court Street Bagels.
