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Old Posted Feb 12, 2016, 8:17 PM
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Report: Brooklyn in midst of high-end office building boom

February 12, 2015

Brooklyn is no longer Manhattan’s back office!

Developers are erecting high-end office buildings across the borough, and real estate experts say big companies are now rushing to relocate inside them so they can tap into the local talent pool — bucking Kings County’s image as a place to stash away support staff in cheap digs

.....Demand is so high, some developers are ditching their plans for luxury residential towers to create swanky office complexes instead.

In October, Glacier Global Partners abandoned a condominium project inside a Dumbo waterfront warehouse to fit it out for businesses. And the next month, Jemb Realty announced it was scrapping a planned apartment building Downtown — which boasts some of the lowest vacancy rates in the city — to create a 40-story commercial building.

Jemb claims businesses are now beating down its door to snag space in its Albee Square West building — the first new office tower to rise Downtown in more than a decade — when it opens in 2018.

“They want us to build faster and they’re very excited to get in there,” said president Jacob Jerome.

Jerome says around 80 percent of the businesses looking at the building are creative companies hoping to move out of the overcrowded Manhattan market to the borough many of their employees call home.

“People want to live and work in Brooklyn,” he said.
NEW YORK is Back!

“Office buildings are our factories – whether for tech, creative or traditional industries we must continue to grow our modern factories to create new jobs,” said United States Senator Chuck Schumer.