The Real Deal New York

Design firm Frog making the jump to Dumbo Heights

Company leaving Hudson Square for 27,000 sf at 55 Prospect Street

June 08, 2015 05:02PM

55 Prospect Street

55 Prospect Street in Dumbo (credit: CoStar) (inset: Jared Kushner)

UPDATED, 10:18 a.m., June 9: Design firm Frog is leaping from its Hudson Square headquarters in Manhattan to Dumbo Heights, where it will take 27,000 square feet at the renovated Brooklyn office complex.

Frog will occupy the entire seventh floor at 55 Prospect Street, a 10-story, 255,000-square-foot building that is part of the complex. The design firm chose the space for its 15-and-a-half-foot “double height” ceilings allowing “maximum flexibility” in the space, according to chief creative officer Hans Neubert.

CBRE’s Keith Caggiano represented Frog in the deal.

The new space is around the same size as Frog’s current location at 325 Hudson Street, according to Crain’s. The company will move about 80 employees into 55 Prospect Street by next summer, with the layout accommodating the firm’s goal of growing to 100 people in the next few years.

The Dumbo Heights complex, owned by a partnership between Kushner Companies, RFR Realty and LIVWRK, is among the highest-profile developments in Brooklyn’s emerging office market boom. The property has attracted the likes of shared office space provider WeWork and high-end jewelry retailer Alexis Bittar, while Etsy is anchoring the complex with up to 200,000 square feet of space.

The partnership acquired the complex from the Jehovah’s Witnesses for $375 million two years ago and set about renovating its roughly 1 million square feet of office space. Construction work at the development is “about 85 percent complete” while leasing is “60 percent done,” according to LIVWRK chief executive Asher Abehsera. [Crain’s]Rey Mashayekhi