Brooklyn to Get Its First Spec Office Project in Decades

“Location, location, location,” says Rubenstein Partners’ Stu Little about why Williamsburg was the perfect location for 25 Kent, an all-new, ground-up office property. The development is Brooklyn’s first speculative office project in more than 40 years. The project, along with 10 Wythe, another one of the firm’s developments in the neighborhood, are expected to revive Williamsburg’s status as a global manufacturing and creative hub.

“Brooklyn’s true roots are in manufacturing, and as the borough adapts and further transforms, innovative solutions are required to ensure that these economic developments are benefiting the entire community,” Little tells GlobeSt.com. “Brooklyn, as of late, has become a true live-work-play environment, shifting from traditionally being mostly retail and residential-focused and because of that, employers are increasingly looking toward finding office spaces in destinations that are located near where the majority of their workforce resides.

10 Wythe, a $550 million mixed-use development, will also include a new headquarters for ACME Smoked Fish, a fourth-generation family-owned business that employees more than 100 union members. According to Stein, the project will create approximately 2,000 jobs. “We’re very proud that this project, along with 25 Kent, helps to preserve and enhance industrial uses in today’s economy, in addition to serving the rapid growth in Brooklyn’s creative economy,” he says. “With 25 Kent and 10 Wythe, we’re not just activating spaces to become places for a 9-5. Instead, we’re creating vibrant environments that attract today’s talent and bring these live-work-play elements to surrounding communities.”

These are the poised to shake-up the market, and define Brooklyn as a market separate from Manhattan. Over the past 15 years, Brooklyn has continued to differentiate itself as a distinct competitor to Manhattan, transforming into a location hot-bed of tech, innovation and creative activity,” says Stein. “This transition from an “outer borough” to a cultural and economic powerhouse in the region lies at the crux of this opportunity to develop.”

Williamsburg is the natural location for the revival of Brooklyn’s commercial sector. “Williamsburg was one of the first areas in the Brooklyn renaissance over the last ten years, catalyzed by the Williamsburg-Greenpoint rezoning of 2005,” says Stein. “The zoning changes undeniably triggered a massive residential supply response and paved the way for rapid growth. Since then, this submarket has emerged as a dynamic, 24-hour residential-retail-hotel area and now boats high-rise luxury towers and high-end retailers, similar to the Meatpacking District in Manhattan when it first began to emerge.”

Now, the market will have quality office space that will rival the neighboring big city. “Brooklyn’s longtime history involved its place as a bedroom community in relation to Manhattan. It was a hub for traditional manufacturing, but not a center for office work,” says Stein. “Consequently, office stock simply doesn’t exist in Brooklyn to support the new demand spurred by the Brooklyn renaissance.” Tech and creative industries are supporting the growth, which Stein says, “bodes well for the city and bring a strong workforce to the office space within Brooklyn and Williamsburg.”