NKF Tapped for Brooklyn Tech Hub Assignment
- Aug 17, 2017
The Brooklyn Tech Triangle is among New York City’s leading innovation hubs, and Dumbo Heights is making its latest move to solidify that status. Newmark Knight Frank has been retained as exclusive leasing agent for the remaining 90,000 square feet of office space at the 1.2-million-square-foot office and retail complex.
The Kushner Cos., RFR Realty and LIVWRK acquired the buildings in the trendy Dumbo neighborhood in 2013 and converted them into a high-tech campus. NKF will represent space that is spread among four waterfront buildings.
Tenants include WeWork, Etsy and Frog Design. Earlier this year, the education technology company 2U leased 78,000 square feet at the campus’ 55 Prospect St.
Rising Demand, Tight Supply
“We are seeing substantial demand from small- to mid-sized companies. When you look at the overall marketplace and what is available to lease, there is actually a very limited supply in each individual market,” Whitten Morris, NKF’s managing director, told CPE. He will head the leasing efforts along with NKF associate Joseph Sipala.
“While as a whole, Brooklyn has a fair amount of space coming online over the next few years, right now there is limited inventory and what is available is seeing strong interest,” Morris added.
Of the available space, 75,000 square feet is located at the 225,000-square-foot 77 Sands St., a 55-year-old former industrial property that was converted to office space in 2015. Featuring a typical floor size of 18,800 rentable square feet, the 12-story building offers extra-height ceilings, windows providing natural light on four sides and a brand-new roof deck overlooking the Brooklyn campus.
Most of the other available space is at 55 Prospect, a 10-story, 255,000-square-foot building featuring pre-builts ranging from 1,000 to 5,000 square feet. Tenants share a conference room, newly designed pantries and a common roof deck overlooking the Brooklyn Bridge.
“We have seen a wide range of different tenants express interest,” Morris said. “As we have seen throughout the overall Brooklyn marketplace, companies from a variety of backgrounds are now calling Brooklyn home.”