Category: Brooklyn (page 2 of 2)

Dutch Startup Incubator Set to Open Location in Brooklyn Navy Yards

Kevin Brunnock, NYC, Brooklyn Navy Yards The Dutch startup incubator B. Amsterdam is set to open a location at Brooklyn Navy Yards. The Netherlands-based business incubator will introduce new jobs to the area as well as attract an increased number of global technology tenants. In addition to agreeing to occupy 100,000 square feet of the property’s space, they’ll create approximately 500 living-wage jobs.

The company, which provides business and real estate services, made the announcement on Wednesday, September 7th. At the new location, they will share their knowledge, with regards to tax planning, legal, real estate, and human resource, with about 300 early and growth-stage startups. According to a statement, Brooklyn Navy Yard Chief Executive Officer David Ehrenberg stated, “B. Amsterdam will connect the Brooklyn and greater New York business communities with dynamic product design and tech companies across Europe.”

“Cities like Amsterdam, Paris, and Stockholm are teeming with entrepreneurs looking to conquer the world with a new product or service. And they are all looking for ways to scale up,” said Kajsa Ollongren, the deputy mayor of Amsterdam, according to the Real Deal. “With the creation of B.NY, these startups will be able to enter the US market faster and easier.”

Once a shipbuilding site for the U.S. Navy, The Navy Yard later became a city-owned industrial park. During the peak of World War II, the Yards employed 70,000 people, and it currently houses 7,000 workers. That number is expected to double over the next five years as Navy Yard projects unfurl.

The commercial development plans grew from a partnership that began with Alicia Glen, New York’s deputy mayor for housing and economic development, and Amsterdam Deputy Mayor Kajsa Ollongren. B. Amsterdam will dedicate about 15 percent of their space to businesses centered on technology, hardware, and product design companies. 

The development of the facility will begin during the early months of 2017. After it’s completion, it’ll be a homestead for European markets looking to expand into U.S. markets, and it will also enable local entrepreneurs to develop relationships  with European clients. The incubator will occupy Building 127 at the complex. They’ll be joining the ranks of companies, such as Brooklyn Brewery, which signed a lease to take 75,000 square feet at the Navy Yard’s Building 77. Also, 1776, a tech incubator and seed fund, signed a 30,000-square-foot lease.

 

Is the Upper East Side moving to Brooklyn?

kevin brunnockThe luxury real estate market in Brooklyn, NY has been booming. Old properties that are on sale, in addition to newly constructed rental buildings, are all hitting the market priced at millions of dollars. This might sound strange to some. When most people think of million dollar homes in NYC they typically imagine decadent Manhattan Penthouses owned by the few, not modest family homes in Brooklyn. However, the trend of multi-million dollar Brooklyn homes has been on the rise as of late.

Industrial-style homes on Pacific Street, between Fourth Avenue and Henry Street, in Brooklyn are the new cash cows for investors in the city’s hippest borough. Douglas Elliman recently sold a $15.5 million mansion on that street. There has also been a string of mega-million deals on residential homes that have put a spotlight on a stretch of Pacific Street, which runs through Cobble HIll and Boerum Hill, areas near the Barclays Center. Noted celebrities have been buying homes in this area – another factor that has caused the boom. Singer Norah Jones even owns two houses in the area that are around the corner from each other.

Recently, investors have not only been re-selling homes but building new, cool, amenity-laden homes in vacant patches on the strip that are impossible to build in nearby neighborhoods such as Brooklyn Heights or even in the West Village. One of these new houses is about to hit the market for $12.5 million, which equates to over $2,000 a foot. New carriage-style homes are also making an appearance in the area. Located at 323 Pacific Street, the first home is a massive 6,000-square-foot, 25-foot-wide mansion. It features five bedrooms, an elevator, on-site parking, and custom Americana finishes. It is supposed to hit the market in late October 2015 for $12.5 million. While this is of course a sizable price tag, this house would list for around $40 million in Manhattan. Another home on Pacific Street, for example, was built with a 20-seat movie theater, a gym, a children’s playroom, a bar and wine cellar, a roof deck and parking facility.

Not only are houses being priced extremely high, but condos are as well. A new 30-unit condo development at 465 Pacific Street, designed by architect Morris Adjmi, is about to be listed at about 40% more than the neighborhood average, which is more than $1,4000 a foot. The diversity of the houses, from condos to brownstones to carriage houses to three-bedroom homes, is what is really luring wealthy individuals and celebrities to the area. Moreover, Pacific offers these high-profile individuals a low-key vibe, one which doesn’t attract the high tourist traffic of areas such as Brooklyn Heights. There are many factors that play into the boom of the luxury real estate market in Brooklyn, a trend that doesn’t seem to be slowing down any time soon.

To learn more about Brooklyn, see the message from Brooklyn Borough President, Eric Adams below.

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