East Williamsburg Gets A New Office, Retail And Restaurant Complex
A former commercial printer will make way for a 130,000-square-foot commercial complex in East Williamsburg.
A glitzy office complex with a restaurant, retail space and community garden is coming to East Williamsburg. Developers, Normandy Real Estate Partners paid the princely sum of $26.75 million for the land and plan a 130,000-square-foot complex to sprawl and soar where a commercial printing company once stood.
The designers of the complex, which is located at 333 Johnson Ave, are A+1 whose portfolio includes work for Vera Wang, HBO, Tumblr and SquareSpace. Their plans shows a light colored concrete construction with plenty of green space, spacious meeting areas and roof top terraces.
The printers, run by Alvin J. Bart and Sons, closed their business in 2015 after downsizing from 300 to 100 employees, according to DNAInfo. They have since located to Dallas with a small satellite office in Glendale Queens.
Recently, East Williamsburg has seen a slew of warehouse to office conversions take place. One, the Paper Mill Loft Offices at 456 Johnson Avenue is located a few doors away from the new office complex planned at 333 Johnson. They mark a trend in tech and creative type businesses (TAMI) with investment capital either converting or rebuilding office space that was once used for older manufacturing industry.
The developers of 333 Johnson Ave have a portfolio of office buildings in Needham Massachusetts, the Tri-State NY/NJ and the Washington DC Metro area. The company was founded in 2002. It currently has over 100 employees who managed $1.5 billion of equity capital.
They also have a residential arm which focuses of rehabbing properties newly gentrified areas. Unlike their office space, the units are spread out. According to their website, they have “approximately 2500 units in hundreds of buildings located primarily throughout the New York/Tri-State area”. Their strategy “is to target properties that have been under managed or are in disrepair. After renovating the properties, we strive to provide a better quality product at attractive price points.”
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