{"id":1004271941,"date":"2018-10-16T02:16:13","date_gmt":"2018-10-16T10:16:13","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004271941"},"modified":"2022-12-06T03:26:26","modified_gmt":"2022-12-06T11:26:26","slug":"newmark-knight-frank-brokers-major-williamsburg-lease","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/newmark-knight-frank-brokers-major-williamsburg-lease\/","title":{"rendered":"Newmark Knight Frank Brokers Major Williamsburg Lease"},"content":{"rendered":"<p>By Keith Loria<\/p>\n<div id=\"attachment_1004271971\" style=\"width: 310px\" class=\"wp-caption alignright\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/10\/75-Metropolitan-Ave..jpg\" target=\"_blank\" rel=\"noopener\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-1004271971\" data-attachment-id=\"1004271971\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/newmark-knight-frank-brokers-major-williamsburg-lease\/75-metropolitan-ave\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/10\/75-Metropolitan-Ave..jpg\" data-orig-size=\"800,620\" data-comments-opened=\"0\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;0&quot;}\" data-image-title=\"75 Metropolitan Ave.\" data-image-description=\"\" data-image-caption=\"&lt;p&gt;75 Metropolitan Ave.&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/10\/75-Metropolitan-Ave..jpg?w=800\" class=\"wp-image-1004271971 size-medium\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/10\/75-Metropolitan-Ave..jpg\" alt=\"75 Metropolitan Ave.\" width=\"300\" height=\"233\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/10\/75-Metropolitan-Ave..jpg 800w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/10\/75-Metropolitan-Ave..jpg?resize=300,233 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/10\/75-Metropolitan-Ave..jpg?resize=768,595 768w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a><p id=\"caption-attachment-1004271971\" class=\"wp-caption-text\">75 Metropolitan Ave.<\/p><\/div>\n<p>Cornell Realty Group&nbsp;has signed a 40,500-square-foot lease at 75 Metropolitan Ave. in Williamsburg, N.Y., with Metropolitan 75 Realty. The deal also included 3,500 square feet of outdoor space.&nbsp;NKF represented the owner in the deal.<\/p>\n<p>Currently, a five-story former industrial building is situated on the site. Under terms of the deal, the property will be redeveloped with planned renovations including upgraded building mechanicals, a new facade,&nbsp;and modernized lobby and elevators.&nbsp;Additionally, it will be rebranded as the Vault at 75 Metropolitan when the work is finished in the summer of 2019.<\/p>\n<p><em>\u201cIdentifying Ownership and Cornell\u2019s synergistic goals was the key to this transaction,\u201d <\/em>Ryan Gessin, NKF\u2019s associate director, said in a prepared release. <em>\u201cAs someone who is deeply entrenched in the Northern Brooklyn submarket, I am beyond excited for both parties and just as importantly the neighborhood.\u201d<\/em><\/p>\n<p>The NKF team also included Alyssa Zahler, Whitten Morris and Joseph Sipala. When the renovations are complete, Gessin and Zahler will lead a team to re-lease the building.<\/p>\n<h2>Brooklyn\u2019s hip neighborhood<\/h2>\n<p>The building is located in the heart of Williamsburg, just a couple of blocks from the waterfront. It\u2019s close by a number of Brooklyn\u2019s homegrown restaurants, bars and boutiques, with an Apple Store and Whole Foods nearby.<\/p>\n<p>Cornell is no stranger to Williamsburg. It\u2019s also developing a nearby ground-up commercial project at 200 Kent Ave.<\/p>\n<p>Williamsburg is a popular destination for businesses. Uanderson Benedetti, managing director with Millbrook Realty Capital, told <em>Commercial Property Executive<\/em>&nbsp;in September that Downtown Brooklyn and Williamsburg are <a href=\"https:\/\/www.commercialsearch.com\/news\/a-good-time-for-bridge-lenders\/\">seeing the most investment activity<\/a> from big-name sponsors, and many lenders prefer to do business there.<\/p>\n<p><em>Images courtesy of&nbsp;Newmark Knight Frank<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Cornell Realty Group signed a 40,500-square-foot lease at a former industrial building. The five-story property will be redeveloped to include a new facade\u00a0and modernized lobby and elevators.<\/p>\n","protected":false},"author":451,"featured_media":1004271971,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21784,21743,21782,21808,1600,21742,10,21747],"tags":[36007],"class_list":["post-1004271941","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-brokerage","category-deals","category-development","category-featured","category-new-york","category-latest","category-northeast","category-office","tag-newmark-knight-frank"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Newmark Knight Frank Brokers Major Williamsburg Lease - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/newmark-knight-frank-brokers-major-williamsburg-lease\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Newmark Knight Frank Brokers Major Williamsburg Lease\" \/>\n<meta property=\"og:description\" content=\"Cornell Realty Group signed a 40,500-square-foot lease at a former industrial building. The five-story property will be redeveloped to include a new facade\u00a0and modernized lobby and elevators.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/newmark-knight-frank-brokers-major-williamsburg-lease\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2018-10-16T10:16:13+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-12-06T11:26:26+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/10\/75-Metropolitan-Ave..jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"800\" \/>\n\t<meta property=\"og:image:height\" content=\"620\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Keith Loria\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/newmark-knight-frank-brokers-major-williamsburg-lease\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/newmark-knight-frank-brokers-major-williamsburg-lease\/\",\"name\":\"Newmark Knight Frank Brokers Major Williamsburg Lease - 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