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Deals & Dealmakers

Newmark launches tech-friendly new Bushwick building

 

 

Newmark Grubb Knight Frank (NGKF) today introduced 815 Broadway, a newly redeveloped property on the border of Williamsburg and Bushwick.

815 Broadway totals 50,000 s/f
815 Broadway totals 50,000 s/f

Owned by Transition Acquisitions, the 50,000 s/f for Globe Exchange Bank building is undergoing a complete renovation.

NGKF’s Ross Perlman, executive managing director, and Ryan Gessin, associate director, serve as the exclusive leasing agents for the property.

815 Broadway was originally designed as  bank by Louis Mowbray and Justin Uffinger in 1917. Department of Buildings records show that previous owne,r Steiner Equities Group filed plans to convert the building into residential units. Thanks to the growth of the Brooklyn office market, the building was bought by Transition Acquisitions in 2015 with a plan to convert to office space.

According to the brokers, the renovated building will reflect both its 20th-Century history and modern office design, offering full floors with windows on all four sides, exposed brick, vaulted ceilings and views of Brooklyn.

The renovation plans also embrace the neighboring overhead subway,  incorporating the J and M tracks into the design. The building includes five 10,000 s/f floors with full building possibility, including naming rights and potential for a private entrance.

Globe Exchange Bank 2
The building was originally the Global Exchange Bank
815 Broadway
815 Broadway rendering

“Competing product in the surrounding Williamsburg-Bushwick office market consists primarily of warehouse conversions, which are atypical office spaces that tend to have irregular layouts and large floor plates that cater exclusively to large tenants,” noted Gessin.

“815 Broadway, with its efficient layout and full floor options is ideal for mid-size tenants. It also has the added benefit of proximity to the J and M subway lines, allowing tenants easy access to the building and to avoid any potential negative impacts of the planned shutdown of the L line.”

“Talent is increasingly choosing to live in Brooklyn, and businesses are moving closer to their employees,” stated Mordy Getz, chief executive officer of Transition Acquisitions. “We saw an opportunity to meet this growing demand for office space in the Williamsburg-Bushwick area, while reviving the history and character of the building.”

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