Category Archives: Brooklyn

5 key trends shape mid-year Skyline update

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Last week, JLL launched a mid-year update to the 2016 Skyline Report, which provides online access to current market intelligence for the most iconic offices across our skyline. JLL’s Skyline provides insights on office supply, demand, rents and leverage for the top-tier office market within CBDs and urban cores. Five key trends shape this update, and below see how they impact our City.

  1. Gone today, here tomorrow

Many markets are expected to enter… Read More

New York is most liquid hotel market in the world

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According to a new special research report from the JLL New York Research and Hotels teams, New York is the most liquid hotel market in the world.  2015 marked the city’s highest volume of transactions and highest-priced transaction on a per-room basis. Hotel performance will be under pressure in 2016 and 2017, given the city’s elevated supply pipeline, economic volatility in major source markets and the impact of home-sharing sites, but… Read More

JLL Selected by Brooklyn Navy Yard to Lease Building 77 on Brooklyn Waterfront

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JLL will be leasing agent for the upper floors of the extraordinary 16-floor, 1 MSF building undergoing redevelopment for industrial, research and development uses

JLL has been selected by the Brooklyn Navy Yard Development Corp. as the leasing agent for Building 77, a 1 million-square-foot building located on Flushing Avenue in the Brooklyn Navy Yard between Brooklyn’s DUMBO and Williamsburg neighborhoods. JLL will provide marketing and transaction services for the 16-story facility, which is currently undergoing a complete retrofit to accommodate industrial, research and technology uses.

The building, originally constructed as a warehouse that also housed offices for the U.S. Navy Central Command, offers 80,000-square-foot floorplates and extraordinary, unobstructed views of Manhattan, the East River, and Brooklyn waterfront. An anchor tenant will have the ability to incorporate a 20,000-square-foot roof deck with 360-degree panoramic views for its exclusive tenant use.

On November 17, New York Mayor Bill de Blasio announced a $140 million investment to transform Building 77 into a modern facility, anticipated to generate more than 3,000 jobs. The investment by the city, the BNYDC, and the Brooklyn Borough president and City Council, will be used to renovate and reposition the currently vacant industrial building. The renovation program significantly expands upon a larger initiative begun under the previous administration, now doubling the overall number of jobs at the site. It is anticipated that, when completed, Building 77 alone will increase overall employment at the Navy Yard by more than 40 percent.

The comprehensive redevelopment of the building is now underway with delivery for tenant fit-out anticipated by third-quarter 2016. The building will feature a new exterior and new window wall system, and it will be outfitted with fully modernized systems, state-of-the-art information technology systems, and redundant power and building services. The renovation will also feature new, double-height entrances and lobbies at both the north side of the building within the Navy Yard and at the south side of the building on Flushing Avenue. The building’s large floorplates will enable prospective tenants to create highly efficient and customized layouts.

JLL will focus on the upper floors of Building 77. The JLL team handling the leasing assignment includes Michael Shenot and Paul Mas, managing directors; Michael Berg, Edward DiTolla and Ruby Hwang, senior vice presidents; and Darren Ferguson, associate. The JLL team will work closely with the Brooklyn Navy Yard leasing team.

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