A 150,000 s/f small business hub opened on Brooklyn’s Dean Street last week, filling what local officials called a “dire need” for commercial space.
“Brooklyn’s creative and tech sectors are booming, with IT workers in Brooklyn making up nearly a quarter of the City’s tech workforce and manufacturing employment on the rise for the first time in decades,” said Brooklyn Chamber of Commerce president Carlo A. Scissura at the opening of the former Studebaker Service Station, re-named 1000 Dean Street following a $30 million gut renovation designed by Selldorf Architects. “The renovation of the historic Studebaker Service Station at 1000 Dean Street in Crown Heights recognizes that there is a dire need for office and commercial space in Brooklyn. I commend the entire team for building a truly innovative space that suits the needs not just for the Brooklyn of today, but also the Brooklyn of the future.”
The development is a partnership by Brownstoner Media, BFC Partners and the Goldman Sachs Urban Investment Group with assistance from the New Markets Tax Credit program. In all, $25 million in credits were provided by Goldman Sachs Urban Investment Group, Waveland Ventures and United Fund Advisors.
“We’ve worked to transform Crown Heights into a revitalized hub for new businesses, the arts and culture,” said Don Capoccia, a partner with Joseph Ferrara and Brandon Baron at BFC Partners, 1000 Dean’s developer, along with Butler.
“Now, with the establishment of this new business incubator we will witness the emergence of creative and co-working companies in the area, which will further our city’s new innovative economy and continue to build on Brooklyn’s success.”
Jonathan Butler, the founder of Brownstoner, the Brooklyn Flea and Smorgasburg as well as the soon-to-open beer hall on the ground floor of the building called Berg’n, said he was thrilled to be part of a project that transformed “a lifeless storage facility into small business hub with scores of small business and hundreds of workers.ˮ
The designed by Selldorf Architects restored the 1920’s façade and created a new interior, built with state-of-the-art steel, concrete, and masonry systems. New, high-efficiency mechanical and lighting systems are part of a program of green building features.
The upper three floors will be creative office space, with units as small as 500 s/f and lease terms from one to five years.
The office space is currently 40 percent leased to tenants that includes Brooklyn Community Foundation, NC2 Architecture, Jack’s Gourmet Kosher. Christopher Havens of aptsandlofts.com, the leasing agent for 1000 Dean Street, said a 30,000 s/f space is currently available for lease, as well as an 8,000 s/f former loading dock ideal for a theater or a food production user. Rents range from $1,500 to $3,000 per month.