At 98 percent occupancy, the Brooklyn Navy Yard is booming, according to an article in the Daily News. Space at the industrial zone is in such high demand that a portion of it near Sands Street will be offered to private developers. The Navy Yard is seeking developers to construct a four-story, 135,000-square-foot building on the site of an NYPD tow lot. (The photo of the Sands Street entrance above, from the Navy Yard’s archives, was taken in the early 1900′s.) The police lot will be reduced in size, and the developer will get a 40-year lease. The news of the new development follows recent announcements that Steiner Studios is undertaking a massive expansion at the yard and B&H Photo is also in the midst of a huge, $50 million expansion there. “I think the significance here is that we’re so confident in the quality of space at the Navy Yard now that if we build it they will come,” says Navy Yard Development Corp. President Andrew Kimball. “We couldn’t have said that 15 years ago.”
Navy Yard Renaissance in Full Swing [NY Daily News]
Naval Hospital to Go Hollywood (East) [Brownstoner] GMAP
Boom Times at the Navy Yard [Brownstoner]
Boom Times at the Navy Yard [Brownstoner]
Video: Inside the Brooklyn Navy Yard [Brownstoner]
Photo courtesy of the Brooklyn Navy Yard Development Corp.