A new movie studio is coming to Bushwick, one of Brooklyn’s trendiest neighborhoods.
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Developer Bungalow Projects, alongside private equity firm Bain Capital, filed plans to build a 300K SF facility at 242 Seigel St., The Real Deal reported.
The assemblage for the studio cost nearly $50M. The project is expected to be completed in the first quarter of 2027, with marketing starting in 2026, a Bungalow spokesperson told TRD.
The partners have another 225K SF production facility in the works at 145 Wolcott St. in Red Hook. Permits for that site were filed earlier this year.
But Bungalow may face more competition in that industrial waterfront neighborhood. Samson Stages is planning to convert a warehouse to 330K SF of studio and soundstage space at nearby 744 Clinton St.
Several other production studio projects are in the pipeline for the Tri-State area.
On Manhattan’s West Side, Vornado Realty Trust Blackstone and Hudson Pacific Properties are investing $350M to build Sunset Pier 94 Studios as a public-private partnership with New York City Economic Development Corp. Developer Adam Gordon and actor Robert De Niro are opening a film and television studio in Queens.
Across the river, Netflix is moving forward on a sprawling 289-acre, $903M production complex in New Jersey.
Meanwhile, Hollywood is recovering from the 2023 strikes, which halted production for months. Changes in media consumption also caused major companies Warner Bros. Discovery and Paramount Global to take multimillion-dollar write-downs as they adjust their business plans.
In Midtown, Paramount is planning to axe 469 jobs in a national effort to save $500M, Crain’s New York reported earlier this month.
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