Dock 72 is a 675,000-square-foot glass office building developed by the Rudin family and Boston Properties on a former dry-dock in the Brooklyn Navy Yard.
The 16-story Dock 72 is the first ground-up office development in decades at the 200-acre Brooklyn Navy Yard — a former shipbuilding facility on the bank of the East River — and started construction in 2016. The developers nabbed WeWork as an anchor when the coworking giant took 220,000 square feet.
Dock 72 opened in 2019 to much fanfare, but the development has become an albatross for Rudin and Boston Properties. Boston Properties has said leasing was slower than expected at the property — with no new deals signed since WeWork’s — and announced in January 2021 that it took a $60.5 million impairment charge at the property.
The developers’ previously blamed the delays for Dock 72’s amenity spaces as to reasons for the slowdown, which only got worse once the coronavirus pandemic tanked office leasing around the city.
WeWork also reportedly had trouble finding companies to take space in the Dock 72 location and, in September 2020, announced that it will use nearly half of its space as its headquarters for New York City employees.