Tag Archives: Paul Mas

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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JLL completes 57,018-SF lease for AKF Group at One Liberty Plaza in New York

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Engineering firm signs 15-year lease to occupy entire 22nd floor, portion of 23rd floor at Class A, 2.3 MSF commercial office building

JLL recently completed a new, direct lease for AKF Group LLC at One Liberty Plaza in Lower Manhattan. The engineering firm signed a 15-year lease for 57,018 square feet at the Class A, 2.3 million-square-foot commercial office building owned by Brookfield.

The tenant was represented by Paul Mas and Michael Shenot, managing directors; Ruby Hwang, senior vice president; and Roxanne Tehranian, associate, all with JLL.

Brookfield was represented in-house by Jeremiah Larkin, senior vice president and director of leasing, and Duncan McCuaig, vice presidents of leasing, along with Newmark Grubb Knight Frank team of David Falk, principal and president of the New York tri-state region; Peter Shimkin, executive managing director; Hal Stein, managing principal; and Nick Berger, managing director.

“AKF Group is relocating its entire New York operations from the Times Square district to Lower Manhattan,” said Shenot.

“Lower Manhattan continues to attract a diverse range of tenants from outside of the traditional financial services sector. We’ve seen similar commitments this year from media firms, technology groups and across all business service sectors.”

AKF Group inked the 15-year lease and will occupy the entire 44,378-square-foot 22nd floor and a portion of the 23rd floor at One Liberty Plaza, located directly across from the World Trade Center between Liberty and Cortlandt streets in Lower Manhattan. The engineering firm is consolidating its presence Downtown from locations at 1501 Broadway and 330 West 42nd Street in Midtown.… Read More

JLL Relocates ICD to 123 William Street in New York

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Nonprofit organization to occupy entire 5th floor at Class B, 569,160-SF office building; JLL sold original headquarters at 407 First Avenue to fund relocation, establish endowment

JLL has completed the relocation of The Institute of Career Development to 123 William Street. The nearly 100-year-old nonprofit organization signed a 10-year lease for 24,391 square feet at the Class B, 569,160-square-foot commercial office building.

The tenant, ICD, was represented by Paul Mas, managing director, and Ellen Herman, executive vice president, both with JLL. The building owners, East End Capital Partners and GreenOak US, were represented by Howard Fiddle, vice chairman, and Bradley Gerla, executive vice president, both with CBRE Inc.

“JLL advised ICD on property management issues it faced as the owner of its original 77,000-square-foot headquarters at 407 First Avenue, and then arranged the sale of the property this past year,” said Mas. “We were able to find an ideal new home for ICD at 123 William Street and then assisted the organization in building out its new space on the fifth floor of the building.”

ICD, formerly known as the International Center for the Disabled, signed a 10-year lease for 24,391 square feet of space and will occupy the entire fifth floor at 123 William Street, which is located between John and Fulton streets in Lower Manhattan. The institute is relocating to the building from its previous offices at 407 First Avenue.

“ICD was extremely pleased with the competency and professionalism displayed by JLL,” said Les Halpert, executive director, with ICD. “I have worked with three separate divisions of the organization and each group was available, responsible, efficient, knowledgeable and helpful. It was a refreshingly rewarding experience.”

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