When GFP Real Estate acquired this century-old warehouse building, they were making a bet that creative companies would want office space in Williamsburg, Brooklyn. Over the past 20 years, Williamsburg has transformed from an industrial and immigrant area to one of the city’s hottest destinations for young people, with apartments, trendy boutiques, restaurants, music and art, but no office buildings until recently.
GFP completely transformed the industrial building into a stateof-the-art workplace for tech-savvy tenants. It offers full-floor boutique lofts that enable flexibility and efficiency while retaining the architecture’s historic character. GFP selected View Dynamic Glass to maximize daylight in the space, which has relatively small window openings but high ceilings. It will also save energy and improve the comfort and wellness of occupants.
Most importantly, this ultra-modern amenity has helped attract forward-thinking tenants. The building is asking $11 higher rent than other office conversions in the neighborhood, many of which have views of Manhattan and are closer to retail and restaurants. Tenants began leasing space before renovations were complete. The anchor tenant, AGW, is a fast-growing marketing and communications agency that had outgrown their co-working space.
GFP Real Estate is a vertically integrated real estate owner and manager. With more than 44 buildings totaling roughly 13 million square feet of space, GFP is recognized for its diverse portfolio of properties. The firm is now one of the top private owners of commercial real estate, serving as a landlord to more than 2,700 tenants throughout every Manhattan office market, Brooklyn, the Bronx and Long Island City.