Exploring New Commercial Space in NYC

Exploring New Commercial Space in NYC

From small office buildings to mega commercial developments, here is a look at some of the new commercial spaces coming to New York City.

Williamsburg Waterfront Office Complex Under Development

Developed by Rubenstein Partners and Heritage Equity Partners, a massive waterfront office complex is underway in Williamsburg. The first ground-up office to be developed in the area in over a decade, the eight-story structure will be located at 25 Kent Avenue. Once complete, it will boast 500,000 square feet of space and will essentially cover one city block bordered by Kent and Wythe Avenues and North 13th and North 12th Streets.

Designed by Gensler, the massive structure will feature 350,000 square feet of office space, 80,000 square feet of light manufacturing space and 70,000 square feet of retail space. Plans for the ground-floor level include a public plaza, several shops and eateries, and an art space. Tenants of the office building will also be able to enjoy a roof deck and private balconies on each floor.

Brooklyn Factory Transforms to Manufacturing Hub

The 1 million-square-foot block of concrete that is considered to be the heart of the Brooklyn Navy Yard redevelopment is getting new life. Known as Building 77, the World War II-era factory is expected to bring 17,000 new jobs to the area by 2020.

In its heyday, Building 77 served as a Navy storage warehouse while also providing offices for the naval high command for the North Atlantic fleet. At the time, the building provided jobs to around 70,000 people, which was approximately .02 percent of the American workforce. As part of the renovation of the Navy Yard, 3 million pounds of concrete are being removed from the building in order to install 50,000 square feet of windows. This act alone has transformed the building from a warehouse to an active manufacturing facility.

Once the $185 million rehab project is complete, Building 77 is expected to mostly house light manufacturing companies along with food purveyors and retail space on the ground floor. Russ & Daughters will serve as the anchor tenant, while Brooklyn-based salsa company Jalapa Jar, Transmitter Brewery and Rustik Tavern are also planning to move into the space.

The upper floors of the building will offer spaces ranging from 2,000 square feet to up to 15,000 square feet, with tenants including furniture maker Armada NYC, metal fabrication firm Situ Studio and jeweler Catbird. The top floors will house office-based tenants, including fashion brand Lafayette 148. Altogether, the building is already 85 percent occupied.

East Village Bar to Become “Boutique” Office Building

Continental Bar, which is located on Third Avenue near St. Mark’s Place, will close next summer to make way for a boutique office building. Shortly after the bar announced that it will be closing, Real Estate Equities Corporation announced that it had assumed the lease for the building along with two others for $150 million. The building that holds Continental along with the other two buildings – located at 23 Third Avenue and 3 St. Mark’s Place – will be demolished in order to erect a seven-story office building.