State explores sale of Fort Greene office tower

TRD New York /
Jan.January 31, 2012 09:30 AM

State officials are considering selling 55 Hanson Place, according to the New York Daily News, as they’ve told local politicians that a private developer has expressed interest in purchasing the property.

The 13-story, 300,000-square-foot office building, between Elliot and Fort Greene places in Fort Greene, is known as the Shirley Building and is home to the Department of Taxation, the Office of Children and Family Services and other state agencies, but officials say the space is underused. As part of a larger plan to cash in on its real estate holdings, the state is exploring the sale.

But city politicians, led by Sen. Velmanette Montgomery, are unhappy with the idea. They say it would limit their direct access to government, and claim that it wouldn’t save the state money as it would end up paying to rent back the space from private developer.

Montgomery is pushing for a plan to fill the vacant space with other state agencies and rent out the remaining room to non-profits. [NYDN]


Related Articles

arrow_forward_ios
Cammeby's International Group founder Rubin Schron and, from top: 194-05 67th Avenue, 189-15 73rd Avenue and 64-05 186th Lane (Credit: Google Maps)

Ruby Schron lands $500M refi for sprawling Queens apartment portfolio

Wendy Silverstein, co-head of WeWork’s real-estate fund, is out

WeWork’s side businesses are fizzling

Compass doesn’t want a jury trial in the Avi Dorfman case

Another WeWork exec is out, Bank OZK’s construction lending is up: Daily digest

Co-living trend of renting bedrooms is back and here to stay: TRD Miami Showcase & Forum

SoftBank rescue plan would bring WeWork’s valuation to $8B

Bank OZK reports uptick in construction lending in Q3

arrow_forward_ios