Transition Acquisitions is planning to transform the five-story, 58k SF Globe Exchange Bank building at 815 Broadway in Bushwick into office space.
The property, currently vacant, will feature roughly 42k SF of office space as well as 16k SF of retail and space for medical offices below ground when it's finished, NY Yimby reports.
The move follows a broader trend of developers acquiring vacant buildings in the nearby Morgantown area and converting them into hip office projects aimed at creative tenants.
The project also joins a slew of other office repositions underway in Brooklyn and Manhattan.
Transition acquired the building for $15.1M in 2015 and plans to wrap up the reposition in spring 2017. [NYY]
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