NEW YORK CITY-In a sign of the acceleration of Brooklyn's transformation, a joint venture of Brownstoner Development, BFC Partners and Goldman Sachs Urban Investment Group has commenced office leasing at 1000 Dean St. in the borough's Crown Heights neighborhood. The 140,000-square-foot commercial complex began life in the 1920s as a garage for Studebaker Motor Co.
The JV aims to attract creative and technology tenants to both office and light industrial space at the 1000 Dean complex, which will offer spaces varying in size from 500 square feet to 32,000. It will also be home to a 9,000-square-foot food and beer hall from the Brooklyn Flea, founded by Brownstoner's Jonathan Butler, as well as a food business incubator facility created by East Williamsburg's Third Ward. The project marks Butler's first foray into development, a spokeswoman for the JV tells GlobeSt.com.
“As demand for affordable office space continues to ripple out beyond Brooklyn's Tech Triangle, we are excited to be part of the exciting revitalization of the borough of Brooklyn,” says Joseph Ferrara, a partner with Don Capoccia and Brandon Baron at BFC Partners. Ferrara was unavailable for further comment Monday afternoon.
The project seeks to draw on prospective tenants from Brooklyn's burgeoning creative tenant enclaves. Prospect Heights, Clinton Hill, Fort Greene, Bedford-Stuyvesant and Park Slope are all within half a mile of the building. The neighborhood itself has emerged in recent years and now offers a mix of affordable residential rents and a varied menu of restaurant options.
Goldman Sachs' Urban Investment Group has been active in Brooklyn in recent years, financing both mixed-income housing and community space. The 1000 Dean redevelopment, says VP Margaret Anadu, “will play a role in the continued revitalization of Crown Heights by creating jobs, fostering innovation, and enhancing the productive use of the building.” Chris Havens of Aptsandlofts.com is the exclusive leasing agent for the building.
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