With a fresh perspective on workplace community and a new model for commercial development, Greenpoint Lofts, Brooklyn's first office condominium building, has become an exciting address for creative entrepreneurs.
The five-story buildings at 231 Norman Ave. in Greenpoint developed by Manhattan-based Vision Group, offer 68 small to mid-size lofts ranging from 600 to 1,150 s/f, making them the perfect investment opportunity for smaller businesses and entrepreneurs looking for modern and affordable offices that they can own rather than rent.
Individual sales are moving at a steady pace and occupancy is expected to take place the first quarter of 2008. A rare investor package of 15 units is now offered in The Annex @ Greenpoint lofts at an attractive bulk sale discount. "Savvy investors have noticed the demand for finished office space in Greenpoint because it just does not exist, we are the only game in town," said Ralph Trionfo president of Upside Ventures, the exclusive marketing and sales agent for the $22 million sellout.
Among those who have already signed contracts are an audio producer, fashion designer, modeling agency, catering service, printing business and a renowned architectural firm. The lofts are suitable for almost any business and its location is easily accessible to Manhattan, Brooklyn and Queens which is very appealing to business owners as a wise alternative to Manhattan's surging rental rates.
More than an office building, Greenpoint Lofts (www.greenpointlofts.com) is a flagship development and a new model of work space for the business owner's 24-7 lifestyle. In a unique twist to the standard office building, Greenpoint Lofts offers buyers amenities more common to residential buildings, such as a fitness center, modern lobby, bamboo hardwood floors, tiled bathrooms, high-speed fiber optics, high ceilings, individual storage spaces, and great natural air and light. All owners will have access to a finished roof deck with landscaped gardens and panoramic views, while two penthouse suites feature outdoor patios and sweeping Manhattan views. "The office condo is the innovative idea for savvy developers to consider when facing zoning challenges. The demand is strong from companies that want to be in a creative environment and control their future," said Trionfo.
Upside Ventures has other office condo projects in the works in Brooklyn and Manhattan. Trionfo, who specializes in investment sales and development has been converting loft spaces for the past decade and has a pulse on the market, says developers are showing strong interest in the office condominium concept throughout New York.
"There's value in having like-minded people occupying and owning in the building," said Louis Puopolo, director of strategic development for Greenpoint Lofts. Tags: