FRCR did not respond to GlobeSt.com inquiries by deadline. However, rents at the company's nearby MetroTech Center, where advertising agency Uniworld Group signed for 37,000 square feet earlier this month, are in the "mid to high $30s," an FCRC source told GlobeSt.com last week. Additionally, tenants relocating to the outer boroughs can benefit from tax incentives. By comparison, asking rents at 810 Seventh Ave. range from $65 to $95 per square foot, according to the website of building owner SL Green Realty Corp.

In a prepared statement, Bruce Ratner, chairman and CEO of FCRC, says, "We are very pleased, especially in these challenging economic times, that the SSCRC has chosen Brooklyn Heights and Pierrepont Plaza in particular for the location of its new headquarters." He calls the council "an important, influential institution, and they will be a great addition to our complex." SSRC president Craig Calhoun says in a release that "Brooklyn seems like an obvious place to be. [Brooklyn Heights is] a cool, fun neighborhood, which is important for staff morale, adds to the creative feel, and is a great place to invite international guests. Lots of our young, highly educated and creative staff members already live in Brooklyn and we bring hundreds of researchers from all over the world to meetings focused on key social issues."

Over the past two decades, SSRC has launched more than 30 projects on a wide range of topics related to globalization, political and economic development, health, international security, human migration and information technology, the release states. More than 80 employees will occupy the new space.

Continue Reading for Free

Register and gain access to:

  • Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
  • Educational webcasts, white papers, and ebooks from industry thought leaders
  • Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

Paul Bubny

Paul Bubny is managing editor of Real Estate Forum and GlobeSt.com. He has been reporting on business since 1988 and on commercial real estate since 2007. He is based at ALM Real Estate Media Group's offices in New York City.