Savanna and its joint venture partner Hornig Capital Partners announced the completion of the redevelopment of 95 Evergreen Avenue in Bushwick, Brooklyn.
Savanna and HCP acquired the five-story, 165,000 s/f former Schlitz Brewery in January 2015 and implemented a large-scale capital improvement program to transform the building into high-end office and retail space.
Savanna and HCP’s $30 million project included renovating the façade, windows, roof, generator, elevators, electric and plumbing systems, fire alarms, sprinklers, and HVAC systems.
Fogarty Finger, a downtown New York City architecture and interiors firm that specializes in sophisticated and contemporary commercial projects, designed the upscale and modern space. Chris Fogarty and Harshad Pillai led the design efforts.
Initially built for Schlitz brewing operations, many of 95 Evergreen’s historic qualities, including 15 to 37 foot ceilings and efficient floor plates of up to 37,500 square feet, were preserved, as brand new building systems were installed to modernize the infrastructure and create a unique space for office and retail tenants seeking to expand or establish their presence in Brooklyn.
Other new features of the building include a roof deck with views of the Manhattan skyline and a custom light fixture in the lobby with 8,400 backlit Schlitz bottles.
“95 Evergreen is truly a one-of-a-kind space unlike any other offering in Brooklyn and quite possibly all of New York City,” said Tom Farrell, Managing Director of Savanna.
“We have seen that many of the creative and entrepreneurial companies with offices in New York want to be in locations that are proximate both to their employee base and to public transportation. The rebuilt 95 Evergreen’s grand physical attributes cater to those tenants and its location just a few blocks away from the Myrtle Avenue J, M, Z train station as well as the Morgan Avenue L train station provides them – and their employees – with the multi-point transportation access that they need, especially given the potential for service interruptions related to the MTA’s proposed L train repairs.”
Bushwick has emerged as one of Brooklyn’s most up-and-coming neighborhoods and continues to transform with new office, retail, residential and hospitality developments.
Savanna and HCP are relaunching the newly completed property to the market this summer, with Mitchell Arkin and Joseph Cirone of Cushman & Wakefield heading leasing efforts for the office space and Andrew Clemens of Ripco Real Estate handling leasing for the retail space.