Lights, Camera, Action in the Bronx!
- Jul 07, 2015
New York City’s thriving film and television production industry is poised to get some additional accommodations, as Long Island City-based Silvercup Studios announces its plan to open a new studio complex in the Bronx. The project, Silvercup North, will add 115,000 square feet to Silvercup’s offerings.
This isn’t just growth for growth’s sake; timing is everything and Silvercup sees demand in the market. “The film and TV industry is growing so much that we see an excellent opportunity to create more business and more jobs in New York City and New York State,” Stuart Suna, president of Silvercup, told Commercial Property Executive. Those new jobs will include approximately 400 production-industry positions and as many as 100 construction jobs.
Thirty-two-year-old Silvercup is the leading independent film and television production studio facility in New York City, with a combined 18 soundstages at its 235,000-square-foot main lot and 200,000-square-foot east lot, both of which are located in Long Island City. The new studio will open its doors at 295 Locust Ave., a site that is currently home to a 13-year-old, 90,000 square-foot industrial property. Silvercup, having acquired the property from Simone Development Cos. for $15 million earlier this year, will redevelop the former clean technology manufacturing facility at a cost of $20 million. Silvercup North will offer four studios, as well as 5,000 square feet of shops, offices and other relevant support space. It will also feature an amenity that cannot be found at other film/TV production studios in any of the other boroughs: 50-foot ceilings, marking the highest in New York City.
The timing is right for Silvercup’s new project, and so is the location. After all, there were other boroughs to consider. “The Bronx is better priced than Queens and Brooklyn, with excellent transportation,” Suna added. “Many people don’t realize, but the Bronx is undergoing a Renaissance. It’s remarkable. The Bronx also provides TV shows and filmmakers easy access to locations north of New York City, including Westchester and beyond.”
Silvercup has already kicked off redevelopment activity at the Locust Ave. site, and expects to complete the project in June 2016. Silvercup North, however, is just one of the expansion endeavors the studio has on its plate. Within the next year, Silvercup plans to commence the brownfields cleanup process for Silvercup West, an approximately 2 million-square-foot mixed-use development carrying a $1 billion price tag.