Closing Bell: Red Hook Landlord Comes up With Unique Lease Terms

Big time Red Hook landlord John Quadrozzi Jr. put together a new lease for future tenants of the Gowanus Bay Terminal and, in addition to the expected clauses, he’s added three new requirements. Crain’s reported that these new requirements include tenants prioritizing local hiring, implementing sustainable practices, and supporting neighborhood and industrial advocacy initiatives. As Quadrozzi told Crain’s, “As I see much of the industrial areas around the city disappear, it’s a lack of connection between the industry and community… We need to operate in a more holistic way and make the community part of our business.” Under this new lease, tenants looking to hire can submit a job request form that will look for qualified candidates in the neighborhood. (Red Hook’s unemployment rate was 23 percent in 2010, according to the census.) Currently Quadrozzi leases to about 30 medium and small tenants at the GBX, many of which are in support of the new leasing initiatives.
Brooklyn Landlord Offers Unusual Lease Terms [Crain’s]

Photo via the Gowanus Bay Terminal