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Deals & Dealmakers

NYU School of Medicine signs on dotted line at Pencil Factory

Newmark Knight Frank (NKF) completed a lease between the NYU School of Medicine and Caerus Group at 74 Kent Street in Greenpoint, Brooklyn for 16,679 s/f on the ground floor and lower level.

NKF Senior Managing Directors Bernard Weitzman and Eric Cagner and Associate Director Ryan Gessin represented building developer Caerus Group. Paul Wexler and Josef Yadgarov of Wexler Healthcare Properties at The Corcoran Group represented NYU.

Since the Greenpoint waterfront was rezoned, large-scale residential development has drawn numerous residents to the neighborhood.

NYU will use the space to serve Greenpoint’s growing residential population in the neighborhood. The lease term is 15 years.

The top two floors of office space at the building are currently available. They total 15,066 s/f with exposed brick and private outdoor space. The building was gut renovated with new mechanical systems, lobby, windows and bathrooms, and is located next to Kickstarter’s headquarters and over 5,000 brand new residential units.

“Caerus Group displayed both vision and foresight when they meticulously renovated this historic industrial landmark,” said Weitzman. “They were justly rewarded with a top tier credit tenant and a long-term lease.”

“We are very pleased to have had an opportunity to work on this transaction with the wonderful team at NYU Langone,” said Caerus Group’s Leo Tsimmer.

“We believe their growing presence in the neighborhood combined with our efforts to bring new life into the Pencil Factory will be of great service to the growing Greenpoint Community and create numerous jobs.”

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