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Deals & Dealmakers

NGKF unveils Bushwick office space

Newmark Grubb Knight Frank (NGKF) announced today the introduction of 815 Broadway, a newly redeveloped property in border Williamsburg/Bushwick, to the New York City office market. Owned by Transition Acquisitions, the building comprised of 50,000 square feet and 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 has a rich history, originally designed as the Globe Exchange Bank by Louis Mowbray and Justin Uffinger in 1917. Department of Buildings records show that previous owner 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.

The renovated building will reflect both its 20th-Century history and premier modern office design, offering full floors with windows on all four sides, exposed brick, vaulted ceilings and sweeping views of Brooklyn. The renovation plans also embrace the neighboring overhead subway, uniquely incorporating the J and M tracks into the design. The building includes five 10,000-square-foot floors with full building possibility, including naming rights and potential for a private entrance.

“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 plans 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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