An Italian bakery owned by Starbucks just signed an 18K sf lease in Red Hook

Princi joins Tesla at LIVWRK's 160 Van Brunt

TRD New York /
Jul.July 05, 2017 09:45 AM

Rocco Princi and rendering of 160 Van Brunt (Credit: Getty Images and LIVWRK)

An Italian bakery owned by Starbucks signed an 18,000-square-foot lease at LIVWRK and FirstMarket Capital’s 160 Van Brunt Street in Red Hook.

Princi, which was purchased by Starbucks last year, is joining Tesla at the office conversion. The electric car manufacturer signed a 40,000-square-foot lease for a showroom and earlier this year and later added another 6,500 square feet.

Asking rents at the building check in at $44 per square foot, the New York Post reported.

The Italian bakery’s products will feature in some of Starbucks’ locations. SCG Retail represented the tenant in the lease deal.

Red Hook has seen a surge in new development recently. Joe Sitt’s Thor Equities is planning a 623,000-square-foot office and retail complex in the neighborhood.

Last month, Sitex Group paid Italian developer Est4e Four $110 million for a five-property site on the Red Hook waterfront. Est4e had planned a $400 million megacomplex on the site but was unable to lock down financing. Sitex is planning a “last mile” distribution center at the site.

LIVWRK, run by Asher Abehsera, is one of three firms redeveloping the former Jehovah’s Witnesses Watchtower complex at 25-30 Columbia Heights. The partnership, which includes Kushner Companies and CIM Group, released renderings of the 670,000-square-foot mixed-use complex last month. [NYP] Konrad Putzier

(To view more of LIVWRK’s retail leasing transactions, click here)


Related Articles

arrow_forward_ios
As widespread protests sweep the country, the real estate industry reflects on its decades-long support of the NYPD (Photo illustration by Alexis Manrodt for The Real Deal, Getty, iStock)

As Black Lives Matter protests rage on, NY real estate bleeds blue

As Black Lives Matter protests rage on, NY real estate bleeds blue
Mayor Bill de Blasio and Gov. Andrew Cuomo (Getty, Paul Dilakian)

Despite looting, NYC reopening on track: Cuomo

Despite looting, NYC reopening on track: Cuomo
(Photos by Sylvia Varnham O'Regan, Getty)

After looting, BIDs reverse guidance on boarding up stores

After looting, BIDs reverse guidance on boarding up stores
“5 years ago, people would say, what’s a TikTok?” Bill Rudin on why NYC’s office market may be more resilient than you think

“5 years ago, people would say, what’s a TikTok?” Bill Rudin on why NYC’s office market may be more resilient than you think

“5 years ago, people would say, what’s a TikTok?” Bill Rudin on why NYC’s office market may be more resilient than you think
Clockwise from bottom left: Robert Reffkin of Compass, John Gomes, Scott Rechler of RXR Realty, Rich Barton of Zillow, Gary Keller of Keller Williams and Don Peebles of The Peebles Corporation (Getty)

“America is in crisis:” Real estate leaders address George Floyd protests

“America is in crisis:” Real estate leaders address George Floyd protests
A mass timber project in Cleveland is now under construction and could be the nation’s tallest when completed. Harbor Bay Real Estate Advisors’ Intro development will rise nine stories with 298 residential units (Credit: Harbor Bay Real Estate Advisors)

Mass timber project in Cleveland could be nation’s tallest

Mass timber project in Cleveland could be nation’s tallest
Joy Construction’s Eli Weiss (left), Maddd Equities’ Jorge Madruga (top), and Drew Katz with 20 Bruckner Boulevard in the Bronx (Getty; Google Maps)

“Dream” comes true for long-vacant Bronx ice house

“Dream” comes true for long-vacant Bronx ice house
“We’re not in the business of land-grabbing:” Hana CEO on the future of flex space

“We’re not in the business of land-grabbing:” Hana CEO on the future of flex space

“We’re not in the business of land-grabbing:” Hana CEO on the future of flex space
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...