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Brokerage
Posted: October 10, 2008
O'Brien of M.C. O'Brien brokers 3,800 s/f office space lease to PRFI
Michael O'Brien, III, SIOR, CEO of M.C. O'Brien, Inc., has completed the 10-year lease of 3,800 s/f of office space at 358 Grove St. in the Williamsburg neighborhood. The new tenant is the Puerto Rican Family Institute, Inc. (PRFI). Its operation will house a N.Y.C. agency for children's services program and will bring much needed services to the Bushwick/ Ridgewood section of Brooklyn.
The landlord, 358 Grove St., LLC, purchased the site and planned to erect an eight-story residential condo there. The ownership was able to increase the s/f area of the structure measurably by incorporating community facilities on the lower and grade levels of the building in accordance with applicable zoning. The final height yielded 12 floors.
O'Brien represented the landlord and was the sole broker with an aggregate rent approaching $1.025 million.
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