NEW YORK CITY-The developers undertaking the rehabilitation of the Civil-War era Empire Stores warehouse building are looking for $90 a square-foot for rooftop office space.
The $150-milion project at 55 Water St. in the Dumbo section is being developed by the Cayre family's Midtown Equities, in partnership with Rockwood Capital of White Plains and Brooklyn-based the HK Organization. The owners are looking for approximately $65 a square-foot for office space at the building, according to The Real Deal.
The developers plan to add the 70,000-square-foot rooftop addition to the building, bringing available office space at the property to a total of 360,000 square feet. The building will also feature approximately 75,000 square feet of retail space. Construction is expected to start next year with project completion in 2015. See story in The Real Deal.
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