Leases  ·  Office

NYC Department of Probation Renews Brooklyn Lease at 148 39th Street

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The New York City Department of Probation (DOP) has renewed its lease at 148 39th Street in Brooklyn’s Industry City, according to public records.

The city agency has occupied the mezzanine and ground floor of the Sunset Park, Brooklyn, building since 1997 for use as a warehouse, according to the New York City Department of Citywide Administrative Services (DCAS), which handles leasing for the city.

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The renewed lease would be for a term of 20 years. Annual rent will be $271,640 for the first five years with increases of $300,775 for the next five and ultimately reaching $368,096 by the last five years of the lease, according to a notice in The City Record.

After 10 years, the city can terminate the lease at any time, provided that it gives the landlord a full year’s notice.

The property is Building 19 in the 16-building Industry City campus on Sunset Park’s waterfront, and is owned by Belvedere Capital, Jamestown and Angelo Gordon & Company.

Industry City representatives and the DCAS did not immediately respond to requests for comment. It’s unclear who brokered the deal.

Mark Hallum can be reached at mhallum@commercialobserver.com.