470 Vanderbilt Lands Housing Authority as Tenant

Two years after buying the hulking Telecom building at 470 Vanderbilt Avenue in Fort Greene, GFI has landed its first major tenant. Yesterday Crain’s reported that the New York City Housing Authority had signed a 20-year lease for 62,400 square feet on the second floor of the building. GFI inherited Level 3 Communications as well as a few smaller telecom-related tenants but even with the Housing Authority deal the building remains less than half-full. Meanwhile, GFI is proceeding with its plans to get approval to build a 366-unit residential building on the existing parking lot; CB2 has approved the project and it is now in front of Marty Markowitz.
Housing Authority Finds New Home [Crain’s]
470 Vanderbilt Cleared for ULURP Take-Off [Brownstoner]
Big Plans for 470 Vanderbilt [Brownstoner]