Pardo of Two Trees Management brokers four leases totaling 21,385 s/f in DUMBO
According to Two Trees Management Co., four non-profit organizations, New York Foundation for the Arts, Inc., Oasis Children's Services, LLC, Jewish Funds for Justice, Inc., and Equal Justice USA, Inc., have all signed leases at 20 Jay St. Located in DUMBO, 20 Jay has a new lobby with a touch-screen tenant directory, hardwood floors, tenant controlled air-conditioning, and multiple broadband providers.
Signing the largest of all the new leases, the New York Foundation for the Arts signed a 10-year lease for 11,835 s/f. George Comfort & Sons, Inc. represented the tenant. Â Moving from 45 Main St. in DUMBO to a larger space, Oasis Children's Service signed a five-year lease for 6,458 s/f. Â
Also signing at 20 Jay St. are The Jewish Funds for Justice and Equal Justice USA who signed a five-year lease for 1,956 s/f. Cast Iron Real Estate represented the tenant and Pardo represented the landlord. Equal Justice USA signed a three-year lease for 1,136 s/f. Pardo represented both the landlord and tenant.
"We are delighted to welcome these nonprofit organizations and the strong community they cultivate," said Caroline Pardo, director of leasing for Two Trees. "20 Jay St.'s spacious offices and reasonable rents make own Under the Manhattan Bridge Overpass (DUMBO) a smart choice for these organizations."
Two Trees owns most of the neighborhood of DUMBO as well as significant properties in the downtown Brooklyn, Brooklyn Heights, Cobble Hill, Boerum Hill area. The company's holdings include 13 buildings and the second largest portfolio of commercial space on the Brooklyn waterfront, which spans 3 million s/f.
Brooklyn, NY Marcus & Millichap brokered the sale of 733 Dekalb Ave., a fully free-market multifamily and retail property in the Bed-Stuy neighborhood. The asset sold for $2.8 million.
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