Brooklyn Issue

City Point of No Return

CityPoint

Though controversy has surrounded the City Point development in Brooklyn since its inception, the development’s first residential tower is rising under the radar as the tussles subside, at least temporarily, and the commercial real estate industry readies for a major boost for the Downtown Brooklyn area. 

The residential portion of the project’s second phase has risen Read More

Brooklyn Beats

Downtown Brooklyn Is The Next Midtown South, Says Survey

Barclays Center.

A survey of more than 100 prominent commercial real estate machers states that Downtown Brooklyn is the neighborhood to watch, beating out heavy-hitters including Hudson Yards as the city’s Most Likely to Succeed.

“This could be another ‘prestige’ breakthrough for Brooklyn,” William H. Jennings, partner-in-charge of Marks Paneth & Shron, said in a prepared statement. “Many people already think it’s much ‘cooler’ to live in Brooklyn than Manhattan. It may soon be the ‘hot’ place to office.” Read More

The Sit-Down

Rise of the Machines: Robot Garage Will Be North America’s Largest

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Perry Finkelman at times sounds like he’s describing something from a science-fiction movie. The CEO of Automotion Parking Systems talks of designing machines, manipulating machines—even machines that send text messages. It’s not Rise of the Machines he speaks of … not exactly. But the technology that will control the 697-car underground parking garage that Automation plans to Read More

Atlantic Yards

The BID That Wasn’t: Barclays-Area Effort Dissolves, For Now

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To some, it seemed like a good idea, an effort to take responsibility for the effects of Brooklyn’s biggest audience magnet. To others, it looked like overreach.

Now, plans for a business improvement district (BID) for a zone around the Barclays Center, the Atlantic Center and Atlantic Terminal malls, and Brooklyn Academy of Music cultural district have been aborted without public discussion. Read More

ICSC

Fulton Maul: Culture Clash Ensues in Downtown Brooklyn

Armani Exchange at the City Point Development

With the long-awaited Barclays Center open and new residential and mixed-use development projects popping up across Downtown Brooklyn, a retail conundrum is growing along the 17-block Fulton Mall.

The national and in some cases high-end retailers moving onto the strip paint a stark contrast to the long list of mom-and-pops, local discounters and jewelry shops that once almost exclusively lined the street. Read More

Lease Beat

NYU to Lease 26,000 Square Feet at Brooklyn’s Metrotech Center

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NYU’s Center for Urban Science and Progress will temporarily lease 26,000 square feet of space from Forest City Ratner at Downtown Brooklyn’s Metrotech Center, where it will host its inaugural class of 50 students this fall.

Construction has begun on the space at 1 Metrotech as the school awaits the completion of its new home at nearby 370 Jay Street, slated for completion in 2017.

The Metrotech space will include 83 offices and workstations for faculty and staff; collaborative spaces at the corners of the building; and at least three labs, according to NYU. Read More

Brooklyn

Big Deal Pending at Ratner’s Metrotech

Polytechnic Institute of New York University, the private engineering college in downtown Brooklyn, is nearing a deal for approximately 9,000 square feet of office and administrative space at Metrotech Center, sources familiar with the process told The Observer yesterday.

Currently occupying space at the Forest City Ratner-owned 5 and 6 MetroTech as well as nearby Read More

The Sit-Down

What’s Up in Downtown Brooklyn

As president of the Downtown Brooklyn Partnership, the local development corporation, Joe Chan has overseen an ambitious plan to revive the business district known to many as the land of law firms, courthouses and offices. Mr. Chan, 39, talked about plans for new public space and thousands of square feet of fresh retail-and Read More