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Gemini Rosemont Commercial Real Estate has acquired 167 North 1st St., a mixed-use development site situated midblock between Bedford and Driggs avenues in Williamsburg, Brooklyn, for $18.2 million.
The new space will house Imperial Dade's executive team as well as office operations, including finance, human resources and customer service. The firm's current Jersey City facility will serve as its largest distribution center.
The order also mandated specific protections and policies for all essential retail, manufacturing, and warehousing businesses, as well as businesses engaged in essential construction projects.
Prior commitments are still being honored, however, new loans are effectively not available to all, only a few preferred customers and the private lending market is active, but pricing has increased substantially.
Manhattan office leasing experienced a healthy start to the year in January and February with a drop in availability and rise in rents. However, that was soon over when coronavirus arrived in March.
Thor Equities acquired the property last month to add to the firm's dedicated life sciences platform and meet the demand for laboratory and research and development space in the region.