Moving from approximately 20,000 sf in a Midtown South location,the firm becomes the second largest office tenant in the community,where firm officials believe it can "put down roots and grow,"according to Larry Berger, CEO and co-founder of WirelessGeneration. "This entry into our neighborhood is significant tous," says Havens, adding that the company took advantage Relocationand Employment Assistance Plan from the city, which offers largetax credits to tenants relocating all or part of their businessesfrom south of 96th Street in Manhattan to eligible buildings in theouter boroughs and north of 96th Street . The REAP resulted in anet effective rent reduction of approximately $11 per sf forWireless Generation, below market. The leasing range at the site isfrom $19 to 22 per sf.

David Walentas, Jed Walentas and Chris Havens represented TwoTrees in the 10-year lease for part of the building's top twofloors. Rob Lowe and Curtis Brown of Cushman & Wakefieldrepresented Wireless Generation. Lowe says the firm wanted to be in"a creative and fast-growing neighborhood." Built in 1901, 55Washington Street totals about 83,000 sf, and is located betweenWater and Front Streets, near the Manhattan Bridge.

The area has become home to many art galleries and musiccompanies. Sankaranka, Artcore and Flavors of Haiti all will openat 111 Front St. The site is the only multiple art gallery buildingin Brooklyn and home to 14 galleries. Two Trees, which owns both 55Washington and 11 Front St., owns a total of 13 buildings here.