City to invest $140M in Brooklyn Navy Yard building

Capital injection designed to add 3,000 jobs and expand manufacturing

New York /
Nov.November 17, 2014 03:05 PM

The city is investing $140 million in the Brooklyn Navy Yard. The capital outlay is aimed at expanding manufacturing and creating 3,000 jobs at a former World War II-era warehouse, according to Crain’s. The city owns the 1 million-square-foot property. Windows will be added to the lower floors of the structure that’s known as Building 77, with plans to open its doors to prospective tenants in the second half of 2016, according to the website.

More than 100 prospective tenants are currently looking to move to the Navy Yard. Existing tenants will get first priority before the building is opened up to others. At the moment, the Navy Yard has a long waiting list and no vacancies.

“This Place is hot as can be,” Mayor Bill de Blasio said, according to Crain’s. “Any space that’s created here will be filled. That’s the reality.”

Shiel Medical Laboratory, the city’s largest clinical lab, which is already located at the Navy Yard, is slated to be the building’s anchor tenant. The lab will occupy 240,000 square feet. [Crain’s] — Claire Moses


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