Spectrum Renews 200K SF at Greenpoint Warehouse
By Isabelle Durso July 15, 2025 2:05 pm
reprints
Cable operator and internet provider Spectrum is keeping its warehouse in Greenpoint, Brooklyn, for another 10 years.
Spectrum, a division of Charter Communications, has renewed its 200,000-square-foot industrial space at Steel Equities’ 59 Paidge Avenue, according to a spokesperson for Spectrum.
The cable company first moved into the four-story warehouse overlooking Newtown Creek in 2011 and occupies the entire building, the spokesperson said.
The brokers involved in the deal and the asking rent were unclear, but a report from Cushman & Wakefield found industrial rents in Brooklyn averaged $26.59 per square foot during the first quarter of 2025.
A spokesperson for Steel Equities could not be reached for comment.
Spectrum uses the industrial property at the intersection of Paidge Avenue and Provost Street as office and warehouse space, as well as for a depot for its trucks, according to the New York Business Journal, which first reported news of the renewal.
News of the deal comes after New York’s industrial availability hit a 10-year high in April as new construction surged and leasing slowed, as Commercial Observer previously reported.
By the end of the first quarter of 2025, New York City and the surrounding area’s industrial availability rate rose for the 11th consecutive quarter to 10.2 percent, CO reported, citing data from CoStar.
A lot of that rising vacancy rate was due to a massive pipeline of new industrial construction in the works. A record-breaking 14.9 million square feet of space was completed in New York in 2024 alone, according to CoStar.
But some of that space has been filled up with other recent industrial leases, including the New York City Department of Transportation’s deal for 212,094 square feet at 47-25 34th Street in Long Island City, Queens, in June.
Isabelle Durso can be reached at idurso@commercialobserver.com.
