Madison Capital and Salmar Properties are pleased to announce the lease expansion of Prime Clerk at Liberty Bklyn in Sunset Park. Prime Clerk, a division of Duff & Phelps, is a fast-growing company that provides third-party legal administrative services and expanded from its current 18,940-SF space on the fourth floor to an additional and adjacent 11,761-SF unit on the same floor and 21,000 SF on the third floor, which will be used for commercial printing and mailing.
“As our business continues to grow, Liberty Bklyn will be an instrumental step in expanding our service footprint,” said Michael J. Frishberg, President and Chief Operating Officer, Prime Clerk. “We will greatly benefit from having more of our operations in one place, upgrading our efficiency and our ability to best serve our clients.”
The move represents continued leasing momentum, despite Covid-19, at the 1.3-million-square-foot, mixed-use facility (formerly known as Liberty View industrial Plaza) on the Sunset Park waterfront. In addition to the large, flexible spaces, the building offers three separate lobbies and 18 elevators to minimize interaction with others if desired.
“We have remained safely open throughout the pandemic due to the robust infrastructure and safety capabilities of the building,” said Jonathan Ratner, Managing Director, Madison Capital. “Liberty Bklyn’s exceptional characteristicsprovide our dynamic tenants with bespoke workplace solutions that continue to facilitate growth, even in the current environment.”
A Strategic Workplace for the Post-Covid-19 Era
While the floorplates allow for proper distancing and space-planning measures, common areas are also optimized for distancing, with three entry lobbies (including a potential private lobby), 18 elevators and 20loading docks that provide spacious options for an array of businesses. Liberty Bklynalso features operable windows and state-of-the-art, tenant-controlled HVAC designed forclean airflow. With multiple transit, driving and biking options, the building is a strategicalternativefor, among others, Manhattan-based firms looking atspacesin Brooklyn, where many employees may live.
Liberty Bklynwas recently redeveloped for industrial and office use, new features also include a 3.2-acre BrooklynGrange rooftop farm, a 386-spot parking lot, a 60,000-square-foot ground-floor loading zone,on-site dining, reinforcedfloor loads ranging from 200 to 500 pounds per square foot, new energy-efficient windows, new electrical andHVAC systems, a backup generator and superior and redundant fiber optic infrastructure. The building alsooffers one of the largest floorplates in New York City at 180,000 square feet.
With extensiveamenities, robust in-place infrastructure and a prime waterfront location in Sunset Park, a neighborhood that has become a major hub for technology, logistics and other industrial and commercial uses, the building provides tangible benefits to companiesseeking high-quality space at a competitive price-point. Economic incentives include a PILOT (Payment inLieu of Taxes) program to reduce tax exposure significantly, credits from the NYC Relocation andEmployment Assistance Program (REAP), the Industrial & Commercial Abatement Program (ICAP), the Industrial Business Zone (IBZ) Relocation Tax Credit and energy management programs, all of which reduce occupancycosts and empower business growth. In offering aggressive market economics and tenant improvementallowances, Madison Capital stands to attract a diverse tenant base to the building and further the story ofthis exceptional property.
About Madison Capital
Madison Capital is a leading real estate investment and operating company focused on creating exceptional opportunities in evolving markets. Targeting income-producing, opportunistic and value-add opportunities in New York, Chicago, San Francisco, Miami and other gateway cities, the firm employs a focused and disciplined approach to its investments. Madison has grown its portfolio organically since the firm’s inception in 2002 to over $3.1 billion of current assets under management. For more information, please visit the firm’s website at mcapny.com.
