Warehouse Conversion Bushwick

Aerial view of 101 Varick Avenue. Photo via Pinnacle Realty

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.

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Dime Savings Bank Brooklyn Sold -- Chetrit and Stern Close the Deal

Joe Chetrit of Chetrit Group (left) and Michael Stern of JDS Development (right). Chetrit photo via DNA, Stern photo via JDS Development

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…)

Downtown Brooklyn Retail Rent 93 Court Street

Rendering via CPEX

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:
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brooklyn-heights-development-watchtower-jehovas-witness-8

Photo of 85 Jay Street via Watchtower

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…)

Clockwise from top left: Vault co-Founder Kevin Smith, Vault's future Crown Heights location in 1000 Dean, Vault's current space in San Francisco, and Vault co-Founder Sanjay Mody.

Clockwise from top left: The Vault CEO and co-founder Kevin Smith, The Vault’s future Crown Heights location in 1000 Dean, a view of The Vault’s current space in San Francisco, and The Vault COO and co-founder Sanjay Mody.

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…)

Slave Theater Brooklyn Bed Stuy Icon Sold

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…)