The Real Deal New York

882 Third Avenue in Brooklyn's Sunset Park neighborhood is a waterfront industrial complex completed in 1906 and also known as Industry City. The complex hosts some of the city's largest floor plates, at roughly 160,000 square feet; it is a mixed industrial and manufacturing parcel divided into 42 separate units.

The renovated site is just south of the southern tip of Manhattan, perched between the Gowanus Expressway and New York Harbor.

In August 2013,  Jamestown Properties, Belvedere Capital and Angelo, Gordon & Co. bought a stake in the property. Billionaire Rubin Schron's Cammeby's International, and FBE Limited are also partners. The owners unveiled plans in early 2015 to invest close to $1 billion over 12 years to create a modern manufacturing and technology hub; plans call for upgrading the 6 million-square-foot complex's infrastructure, development of a university-based research facility, an employment office and almost 1 million square feet of retail space.

Tenants include everything from artists to technology firms, and the 3-D printer company MakerBot Industries and flavor maker Virginia Dare Extract Co. lease space there.

The Brooklyn Nets National Basketball Association team, which plays at downtown Brooklyn's Barclays Center, is constructing a practice court on a rooftop at the complex.

The Jamestown group is seeking the city's help to upgrade the area surrounding Industry City.