The Treeline Cos., an owner and manager of office properties throughout the New York metropolitan region, has completed a lease with the NYC Transit Authority which has signed a new lease for 32,135 s/f, encompassing the entire third and fourth floors, at 177 Livingston St.
Kraig Silver, senior vice president of Treeline Cos., was the procuring broker and represented the owners. Ingram Hebron assisted in the deal, and Michael Schor, executive vice president/general counsel for The Treeline Cos., was the attorney.
As part of the long-term lease, NYC Transit will also occupy part of the ground floor, where a separate entrance and lobby will be created for The Agency by The Treeline Cos.
In addition to the new lease at 177 Livingston St., The Treeline Cos. and the Transit Authority also completed the restructuring and extension of their current long-term lease for nearly 124,000 s/f at Treeline's 180 Livingston St., located directly across the street.
"We are extremely pleased to extend our long-term relationship with the NYC Transit Authority with the completion of this new lease," said, Silver. "As the first new class A office space to hit this market in many years, 177 Livingston St. offers unique open floor plans, modern amenities and historic grandeur in a prime Downtown Brooklyn location."
Following a year-long renovation and restoration program, 177 Livingston St. has been transformed from an underutilized former Macy's warehouse into a stunning class A office property offering seven stories of pre-war spaciousness with 15,000 s/f wide-column floor-plates.
"Our new office building at 177 Livingston St. has been extremely well received by the market and has proved a very attractive alternative to Manhattan office users," said Schor. "The Treeline Cos.' unsurpassed reputation for quality office space and hands-on management has made this development a tremendous success."
Other tenants at the new 177 Livingston St., which has reached 80% occupancy in less than one year on the market, include HeartShare Human Services of New York, Legal Services for New York City, and Brooklyn Defenders. Tags: