Opening early 2018, 25 Kent will change what it means to work in Brooklyn. See what the press is saying about the borough’s first new workspace in over 40 years.
“Responding to a change in the neighborhood’s aesthetic and the desires of a young workforce, Williamsburg is set to welcome the neighborhood’s first speculative office property in 50 years.”Bisnow
“The eight-story building near the East River waterfront would be the largest commercial property developed in Williamsburg in recent memory.”Wall Street Journal
“With a new speculative office tower planned for the Brooklyn neighborhood....the former industrial area and hipster haven is becoming a hotbed of major league commercial activity.”Commercial Observer
Brooklyn may emerge as an attractive lure in New York City’s long-shot bid to become Amazon.com Inc.’s new home.
The borough’s image as a hip hub for millennials could give it a leg up as the e-commerce giant hunts for the perfect locale for its second U.S. headquarters, according to Ofer Cohen, president of TerraCRG, a Brooklyn-based commercial-property brokerage. Brooklyn is in the midst of a building boom, with about 7 million square feet (650,000 square meters) of offices planned, as developers seek to leverage the area’s popularity with young people who have migrated across the East River to escape Manhattan’s sky-high rents.
Early this month, Amazon kicked off what’s been called “the Olympics of the corporate world” and “the trophy deal of the decade.” Amazon, feeling confined in its home base of Seattle, asked cities across North America to make a case for becoming home to its second headquarters. The winner, Amazon has promised, will be rewarded with a $5 billion investment and as many as 50,000 new jobs with an average salary of more than $100,000.
Real estate execs and business leaders say they are confident New York will be on Amazon's short list after bids for its second headquarters are submitted this week.
After all, the metropolitan area is Amazon's No. 1 sales market, and it's a priority for the company to grow its footprint here. The e-tailer last month leased 360,000 square feet at 5 Manhattan West on top of the 470,000 square feet it already occupies at 7 W. 34th St. In August the company committed to an 855,000-square-foot warehouse on Staten Island to serve as a "last mile" delivery facility. State subsidies in return for job creation helped seal the deal.
Williamsburg’s real estate success story has mostly centered on its residential boom—until now. With a new speculative office tower planned for the Brooklyn neighborhood and high-profile retailers preparing to set up shop, the former industrial area and hipster haven is becoming a hotbed of major league commercial activity.
But in the next few years there should not be any more office shortage troubles in Williamsburg. A plethora of planned office developments will double or even triple the size of the current office market in the hipster neighborhood, and it starts at 25 Kent Avenue.
Rubenstein Partners and Heritage Equity Partners are betting big with the project. When completed, the waterfront building will encompass 500,000 square feet—60,000 square feet of retail, 64,000 square feet of light manufacturing and 376,000 square feet of office space.
It was only last summer that the latest major addition to Williamsburg’s nascent office development boom had received a special permit from the City. Now, construction on 25 Kent Avenue is well underway, with the latest from 5B Films showing the first floor beginning to rise.
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