NEW YORK CITY—Co-working space provider WeWork has leased nearly 77,000 square feet—spanning the top four floors—at 195 Montague St. in Downtown Brooklyn. The property is owned by Treeline and joint venture partner Long Wharf Real Estate Partners.
Kraig Silver, EVP of Treeline, represented the owners in the deal while Jonathan Serko, vice chairman of Cushman & Wakefield, represented the tenant.
"We are happy to meet the needs of WeWork as they continue their New York City expansion with the addition of this second Brooklyn location," says Silver of Treeline. "The property at 195 Montague Street is a prime downtown Brooklyn location convenient to mass transit, the courts and the borough's growing tech sector."
Also known as the Montague Pavilion Condominium, the 14-story office condominium was built in 1960 and renovated and converted to condos in 1994. Current tenants at the property include federal and city agencies as well as medical-related offices.
Located between Clinton and Court streets, 195 Montague Street is adjacent to Brooklyn's courthouse and business districts. The N, R, 3, 4 and 5 subway lines are within walking distance and the property is convenient to the Brooklyn Queens Expressway.
Treeline acquired the condominium floors earlier this year in a joint venture with Long Wharf and KABR Group. Michael Schor from Treeline and John Schonborn from Long Wharf oversaw the acquisition.
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