The Real Deal New York

Nothing but Nyet: Prokhorov moves basketball team’s corporate HQ out of Barclays Center

Brooklyn Sports & Entertainment to join Nets training facility in Industry City
August 10, 2017 01:20PM

Industry City and Mikhail Prokhorov (Credit: Getty Images)

Russian billionaire Mikhail Prokhorov is moving the corporate headquarters for the Brooklyn Nets and the Barclays Center way beyond the three-point line: to Industry City.

Prokhorov’s Brooklyn Sports & Entertainment, which also owns Nassau Coliseum and entertainment venues like the Paramount Theatre and Webster Hall, signed a lease for 70,000 square feet at Building 19, which is also the location of the basketball team’s practice facility, Crain’s reported.

The company will be relocating its headquarters from 47,000 square feet at Metrotech Center in Downtown Brooklyn, a move that will allow it to expand its headcount by 350 employees.

“This move affords us the opportunity to create the right work environment and develop the right culture,” company CEO Brett Yormark said. “When you think about the new work environment, it’s in a space like this.”

The company also has a 3,400-square-foot satellite office at 125 Park Avenue in Manhattan.

Bruce Mosler and Joseph Cirone at Cushman & Wakefield represented the tenant in the deal. A leasing team headed by Newmark Knight Frank’s David Falk negotiated on behalf of Industry City owners Jamestown, Belvedere Capital and Angelo Gordon.

Condé Nast recently inked a 6,000-square-foot lease at Industry City, where it plans to open a kitchen and video studio for its Bon Appétit and Epicurious titles. [Crain’s]Rich Bockmann