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WeWork to take 90,000 square feet in Dumbo Heights

Key updates on one of the largest expansions of commercial real estate in Brooklyn. And some new confusion about coworking giant WeWork's plans for the borough.

Inside "The Elder Scrolls Online." (Image courtesy of Bethesda Softworks)

From the first announcement of the Kushner Companies’ move to create “Dumbo Heights,” we’ve wondered what sort of space would be afforded in the new buildings for small tech firms.

It turns out that coworking giant WeWork is taking 90,000 square feet of space in the complex, according to The New York Times:

This month, WeWork, the Manhattan co-working company that leases out offices as small as a single desk up to thousands of square feet, reached a deal to open its first Brooklyn outpost in the refurbished complex. WeWork took the entire 90,000 square feet of office space inside 81 Prospect Street, its 11th branch. Given that the developers are focused on larger tenants, WeWork will offer much of the incubator space for Dumbo Heights, as well as networking services and facilities management tools like an app to check in visitors.

One weird thing: it’s not 100 percent clear that this is WeWork’s first Brooklyn deal.

Read the whole story

In May, news came out that the coworking chain would take 40,000 square feet in the Williamsburg building that will house a new Whole Foods, though the story in the Commercial Observer at the time notes that the deal hadn’t been signed yet. No updates have made since.

It’s not clear which of the two projects would open first. They both seem to be on track for 2016, though.

WeWork did pick up some Williamsburg Coffee recently, and it did so within a block or so of its purported Brooklyn home-to-be. It would be strange for the company to do that just because.

Yet, when we asked via Twitter whether the deal had been signed yet or not, we got this non-answer and then this other non-answer.

The NYT report also corroborates what Raul Gutierrez, Tinybop CEO, told us: that it takes more than space to make a building that really works for tech firms. There’s expertise that goes into it.

During our conversation that led to this story, Gutierrez pointed to Two Trees as a company that knows how it is done, In fact, Kushner has brought Asher Abehsera into the deal, the person credited with getting the street-level retail mix right in Dumbo. 

The NYT story also makes it sound like Etsy has already left its old HQ: “As if to prove the point, Etsy, the darling of Dumbo, left its old cobbled-together offices, some 80,000-square-feet inside 55 Washington Street, to move up the hill.” The craft marketplace’s move is slated for 2016. Till then, it will remain on Washington Street.

Companies: WeWork / Etsy

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