NEW YORK CITY—An ambitious speculative office project in the popular Williamsburg section of Brooklyn has officially entered the approval process. If approved, the property—which reportedly is geared for the arts and technology sectors—would be the first spec ground-up commercial project in Kings County in 40 years.
The project, located at 25 Kent Ave. and proposed by joint venture partners Heritage Equity Partners and Rubenstein Partners, calls for more than 480,000-square feet of commercial space. The plan is now under review as part of the city's Uniform Land Use Review Procedure process.
Site preparation has already begun and the two development firms are hopeful that construction on the project could begin later this year.
"We designed a building that will accommodate a mix of large, more-established businesses, smaller start-ups, and mid-sized firms that are ready to take the next step in their growth. We'll be able to begin construction quickly, ensuring New York City's fastest growing sectors have the space they need in Brooklyn where the pace of new development has not kept up with the explosive growth of these companies," says Heritage CEO Toby Moskovits.
Rubenstein regional director of New York City Jeremiah Kane adds, "We are excited to develop a project that provides space to both the makers and other light industrial tenants that have fueled Brooklyn's growth and the burgeoning creative class tenants in such dire need of modern office space to grow their businesses."
The Gensler and HWKN-designed building will run a full square block between North 12th and North 13th streets between Wythe and Kent avenues. The building's design will feature a mix of brick and glass coupled with high ceilings to maximize light exposure. The stacked, flexible layout provides modular space for all types of businesses from incubation through the full life cycle of their development, yet also provides larger space for more mature companies, the joint venture states in a press announcement.
A brokerage team led by David Falk of Newmark Grubb Knight Frank has been retained as exclusive leasing agent for the building's office space.
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John Jordan
John Jordan is a veteran journalist with 36 years of print and digital media experience.
