Williamsburg-based Rabsky Group will soon ink a deal to pay roughly $48,000,000 for a potential-laden warehouse in the Bushwick loft area. Can you guess what they have in store for the site? Not condos!
Rabsky is jumping on the creative-Bushwick bandwagon, joining developers like Bushwack Capital and All Year Management to build commercial space (offices with a dash of retail) in the formerly industrial ‘hood, reported The Real Deal.
With property values continuing to skyrocket, this year saw a number of real estate records broken — but not in the retail market. (more…)
It’s a done deal: Downtown Brooklyn’s neo-Classical Dime Savings Bank has officially sold to developers Joe Chetrit and Michael Stern for $90,000,000. (more…)
Just what Brooklyn needs: Another T-Mobile.
An additional outpost of the cell phone and communications company has signed a lease at 93 Court Street — a once-glorious Tudor-style architecture office — for $200 a square foot, a CPEX spokesperson told Brownstoner, in what may well be a new high for the area’s retail rents.
Based on a rendering from CPEX, which brokered the deal, the facade of the building will be repaired for the better, but sadly not restored. Trust us, you want to see it in its original glory:
The Jehovah’s Witnesses will have sold upwards of $1,000,000,000 worth of Brooklyn property by the time they complete their move upstate. But the plan to sell one site in particular — 85 Jay Street in Dumbo — has some locals fuming over profits on allegedly broken promises. (more…)
As Brooklyn scrambles to meet demand for office space, another of the landmarked Eberhard Faber Pencil Factory buildings in Greenpoint is getting fixed up and turned into modern offices.
Crown Heights already has a co-living building. Now it’s getting some mega-sized coworking space.
The Vault — a tech-oriented coworking company based in San Francisco — just signed a lease for a new outpost in 1000 Dean, the neighborhood’s creative office hive established by Brownstoner founder Jonathan Butler. (more…)
Bed Stuy’s historic Slave Theater — a bastion of Afro-centric culture and activism since the 1980s — and two adjacent lots were sold to developer Eli Hemway for $18,500,000, according to The Real Deal. Permits have yet to be filed for development or renovation at any of the three sites: 1215 Fulton Street, 10 Halsey Street, and 16 Halsey Street.
Given the theater’s embattled history (more on that below), a kerfuffle is likely. (more…)
One of the world’s biggest companies, e-commerce behemoth Amazon, is coming to Brooklyn. The tech giant, which has a bigger market cap than Wal-mart and is No. 35 on the Fortune 500 list, is opening a distribution center in Sunset Park.
When finished, Building 77 will add 1,000,000 square feet of workspace and an estimated 3,000 jobs — expanding the Navy Yard’s workforce by over 40 percent. (more…)
Manhattan-based private real estate firm Westbrook Partners has signed a contract to buy an enormous commercial property south of the Brooklyn Navy Yard in Wallabout, in Brooklyn’s Tech Triangle.