Madison Cap., Salmar Props. expand Prime Clerk lease

November 03, 2020 - Front Section

Brooklyn, NY Madison Capital and Salmar Properties completed the lease expansion of Prime Clerk at Liberty Bklyn in Sunset Park. Prime Clerk, a division of Duff & Phelps, provides third-party legal administrative services and expanded from its current 18,940 s/f space on the fourth floor to an additional and adjacent 11,761 s/f unit on the same floor and 21,000 s/f on the third floor, which will be used for commercial printing and mailing. 

“As our business continues to grow, Liberty Bklyn will be an instrumental step in expanding our service footprint,” said Michael Frishberg, president and COO, Prime Clerk. “We will greatly benefit from having more of our operations in one place, upgrading our efficiency and our ability to best serve our clients.”  

The move represents continued leasing momentum, despite COVID-19, at the 1.3 million s/f, mixed-use facility (formerly known as Liberty View Industrial Plaza) on the Sunset Park waterfront. In addition to the large, flexible spaces, the building offers three separate lobbies and 18 elevators to minimize interaction with others if desired.

“We have remained safely open throughout the pandemic due to the robust infrastructure and safety capabilities of the building,” said Jonathan Ratner, managing director, Madison Capital. “Liberty Bklyn’s exceptional characteristics provide our dynamic tenants with bespoke workplace solutions that continue to facilitate growth, even in the current environment.”

A Strategic Workplace for the Post-COVID-19 Era

While the floorplates allow for proper distancing and space-planning measures, common areas are also optimized for distancing, with three entry lobbies (including a potential private lobby), 18 elevators and 20 loading docks that provide spacious options for an array of businesses. Liberty Bklyn also features operable windows and state-of-the-art, tenant-controlled HVAC designed for clean airflow. With multiple transit, driving and biking options, the building is a strategic alternative for, among others, Manhattan-based firms looking at spaces in Brooklyn, where many employees may live. 

Liberty Bklyn was redeveloped for industrial and office use, new features also include a 3.2-acre Brooklyn Grange rooftop farm, a 386-spot parking lot, a 60,000 s/f ground-floor loading zone, on-site dining, reinforced floor loads ranging from 200 to 500 pounds per s/f, new energy-efficient windows, new electrical and HVAC systems, a backup generator and superior and redundant fiber optic infrastructure. The building also offers one of the largest floorplates in New York City at 180,000 s/f.

With extensive amenities, robust in-place infrastructure and a prime waterfront location in Sunset Park, a neighborhood that has become a major hub for technology, logistics and other industrial and commercial uses, the building provides tangible benefits to companies seeking high-quality space at a competitive price-point. Economic incentives include a PILOT (Payment in Lieu of Taxes) program to reduce tax exposure significantly, credits from the NYC Relocation and Employment Assistance Program (REAP), the Industrial & Commercial Abatement Program (ICAP), the Industrial Business Zone (IBZ) Relocation Tax Credit and energy management programs, all of which reduce occupancy costs and empower business growth. In offering aggressive market economics and tenant improvement allowances, Madison Capital stands to attract a diverse tenant base to the building and further the story of this exceptional property.

Tags:

Comments

Add Comment


More from the New York Real Estate Journal