The Brooklyn Paper reports several new restaurants to open in the New Year, The NY Times profiles Jed Walentas of Two Trees Management, and the Observer notes actress Amy Ryan is moving to the Heights.
Category Archives: DUMBO
Pete’s Downtown Helped Revitalize Historic Area
By Raanan Geberer
FULTON FERRY — Regular visitors to, and residents of, the Fulton Ferry area were surprised that Pete’s Downtown restaurant at 2 Water Street, a fixture in the neighborhood since the 1980s, was not only closed but empty.
An employee of this newspaper yesterday called owner Pete Thristino, who said he wasn’t able to renew his lease with the building owner. According to Property Shark, the building, also known as 1 Old Fulton St., is owned by “Danube LLC” at 45 Main St., Suite 602.
By Dennis Holt
DUMBO — For far too long, there has been a chorus of “Where are all the jobs?” But another question is being asked in DUMBO: “Where are all the workers?”
Reports have been intensifying that DUMBO is becoming a major new tech center. The Wall Street Journal last week ran a major story with this lead:
“Tech startups and digital advertising companies have flocked to DUMBO throughout the past decade, drawn to the neighborhood’s industrial lofts that eschew Midtown’s buttoned-down culture. Now DUMBO’s tech scene is about to get bigger.”
But there is a damper on the good news — too many chairs remain empty. Jerry Hultin, president of New York University-Polytechnic Institute, has said, “If there is one common hurdle putting a damper on growth for many DUMBO startups, it is finding qualified programmers and engineers.”
DUMBO — “The Brooklyn retail market has accelerated this year, trending upward in both price and velocity,” said Chris Havens of the Creative Real Estate Group.
Havens reports that in what he calls the Greater DUMBO Area — Fulton Ferry Landing, DUMBO and Vinegar Hill — there are 129 storefronts with 309,000 square feet currently utilized as retail, restaurant, office and studio space.
Spaces range from 50 square feet to 6,000 square feet, with most availability above 3,000 square feet, according to Havens’ report.
DUMBO — In a joint effort between the city’s Economic Development Corp. (EDC), Polytechnic Institute of New York University (NYU-Poly) and Two Trees Management Co., a new DUMBO Business Incubator to Support Technology Entrepreneurs has opened in DUMBO.
The new incubator, supported by an EDC grant of $250,000 and to be managed by NYU-Poly, will support the development of technology startup businesses in Brooklyn over the next three years. Located at 20 Jay St., a Two Trees-owned building, it is expected to be fully operational as soon as January.
By Dennis Holt
BROOKLYN — Brooklyn, and especially the greater downtown area, has dodged a bullet that should never have been fired in the first place.
St. Ann’s Warehouse, as reported yesterday, has found a new home in DUMBO at 29 Jay St. at the Plymouth Street corner. It is being forced to move because its current space, at Water and Dock streets, is being torn down for a mixed-use building that will include a public middle school. Groundbreaking for that building is expected next summer. An earlier plan, conceived by the city and the Brooklyn Bridge Park Corporation, would have converted the old Tobacco Warehouse within the park into an arts and culture center with an auditorium for use by St. Ann’s. The Brooklyn Heights Association (BHA) filed suit, claiming that the transfer of property rights from the state to the city was irregular and therefore illegal. This view has been supported by the courts.
The BHA decision to go to court caused a furor within the association, leading to several resignations by former officers and leaders.
Many people feared that St. Ann’s would not be able to find a new home in Brooklyn and would have to move to Manhattan.