By Hellen Zaboulani
The Williamsburg waterfront property at the former Domino Sugar Refinery site, has signed its first office tenant.
The colossal property, which is now owned and managed by Two Trees Management, has developed into 380,000-square-feet of office space. Development on the giant mixed-use tower was completed last month. As reported by Crain’s NY, the first commercial lease for 12,000 square feet at 10 Grand Street, was signed to Prose , a custom shampoo maker and haircare brand. Prose touts itself as the first personalized hair care brand, its products personalized and freshly made in NYC. The company signed a deal to occupy the building’s entire eighth and ninth floors.
“I’m thrilled to make our first deal this fast, but I’m not surprised, because we have an excellent product,” said Jed Walentas, Two Trees Management’s lead Principal. “I wouldn’t be surprised if all the office floors we’re offering are absorbed in the next six months.”
Two Trees is a family-owned real estate development firm based in Brooklyn. The company, founded in 1968 by David Walentas, boast s a portfolio with 6,000+ residential units and more than 4 million square feet of office and retail space. The newly completed office space on Williamsburg’ waterfront offers full floor modern offices, comprising of 6,000 square feet offices overlooking Domino Park with “sweeping 360-degree panoramic views and exceptional amenities”, as per the management company’s website. The company was originally hoping that one giant company would occupy all of the office space. There are now 18 single occupant floors, with adjacent floors available for connecting. Designed by COOKFOX Architects, the space features 11’-5” height ceilings, floor to ceiling windows, conference rooms with state-of-the-art connectivity and video conference capability, 4 elevators, and communal outdoor deck space.
Earlier this month, Two Trees Management expanded its ownership on the Williamsburg waterfront with the $150 million purchase of a nearby site from Con Edison. As per the Brooklyn Eagle, it plans to create the River Street project, with 1,000 apartments, 250 of which will be affordable units for lower-income residents. The project is slated to include plenty of community amenities including a water-centric park with a public beach and natural habitats such as a salt marsh, freshwater wetland and tidal pools. The land will first need to be approved for rezoning, which will need some community support, and is often difficult to attain. The company, however, does have the experience as it recently designed Domino Park, the 11-acre residential and office complex on the site of the former Domino sugar factory.
