Brooklyn business incubator opens at 1000 Dean Street

Available spaces range from 500 to 40,000 square feet
June 04, 2014 08:00AM

Brownstoner’s mixed-use commercial space in Crown Heights opened for business Tuesday.

The former storage facility at 1000 Dean Street started its new life as a business incubator with 29 tenants and room for about 70 more, the New York Observer reported. Available workspaces range from 500-square-foot spots to the 40,000-square-foot area that was intended for 3rd Ward’s food incubator before the organization went bust last October. The average price per square foot runs in the mid $20s.

Brownstoner founder Jonathan Butler and his backers purchased the building for $11 million in March 2012, and began leasing offices for $1,500 to $3,000 per month about a year ago. Goldman Sachs, Waveland Ventures and United Fund Advisors financed the project, according to the Observer. The Economic Development Corporation helped the venture secure a $25 million federal tax credit. [NYO]Tom DiChristopher