Liberty Bklyn

Opportunity:

In January 2020, Madison Capital recapitalized 850 3rd Avenue, known as Liberty Bklyn, a 1.3 million-square-foot, mixed-use facility in the rapidly redeveloping Sunset Park neighborhood of Brooklyn, New York. The waterfront building, a former U.S. Naval storage facility adjacent to Industry City, was redeveloped for industrial and office use through a $130 million development program and features a 3.2 acre Brooklyn Grange rooftop farm, a 386-spot parking lot, a 60,000 square foot ground floor loading zone, 17 loading docks and 3 additional full drive-in doors, 18 brand-new elevators, 3 office lobbies, on-site dining, reinforced floor loads ranging from 200-500 pounds per square foot, new energy-efficient windows, new electrical and HVAC systems, a backup generator, and superior and redundant fiber optic infrastructure. The building offers one of the largest floorplates in New York City at 183,000 square feet.

Madison plans an active repositioning and marketing effort to re-brand and lease the property. With vast amenities, robust in-place infrastructure, and assorted economic incentives, in addition to a prime location in an ascendant economic and industrial crossroads in Sunset Park, the building provides tangible benefits to companies seeking high-quality space at a competitive price-point. In offering aggressive market economics and tenant improvement allowances, Madison stands to attract a diverse tenant base to the building.

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