25 Kent, a joint development by Rubenstein Partners and Heritage Equity Partners, took a huge step forward this week after being approved by the New York City Council and its subcommittees this week. The 480,000+ square foot, mixed use development in Williamsburg is the first of its kind to be built in Brooklyn in over 40 years.
Bloomberg’s David Levitt covered the news:
Two New York City Council committees approved a zoning change that would clear the way for what developers say will be the first primarily office project to be built in Brooklyn in more than a generation.
Toby Moskovits’s 25 Kent Ave. won approval Tuesday from the New York City Council Subcommittee on Zoning and Franchises as well as the Committee on Land Use, with the full council scheduled to vote on the project Thursday. The council generally follows its committees’ guidance.
The 480,000-square-foot (45,000-square-meter) office and light-industrial development, to be built on a site near the Williamsburg waterfront, is expected to tap into demand from creative and technology companies that have proliferated in northern Brooklyn in recent years. Moskovits’s Heritage Equity Partners is co-developing the building with Rubenstein Partners, a Philadelphia-based real estate investment firm.
The project will be “Brooklyn’s first truly mixed-use building for manufacturing, creative and tech-based sectors,” Moskovits said in an e-mailed statement. “The building will soon move from vision to reality.”
The full article can be found here.