Is Vinegar Hill the Next DUMBO? A Storage Warehouse Owner is Banking on It
In New York, if there is anything we talk about more than weather, it’s how “____ is the new ____”. Now, the owner of a storage building at 80 Hudson Avenue in Brooklyn is banking on Vinegar Hill becoming the new DUMBO.
Globe Storage and Moving Co. just hired Dan Marks at TerraCRG to get the word out that his seven-story, 80,000-square-foot storage warehouse is a covetable piece of real estate worthy of one ambitious investor willing to refurbish it and rent it out, or use it, as an office space. The owner’s plans come on the heels of DUMBO’s strengthening office leasing market and he hopes this trend will stay strong enough to spill some of that demand for space over his way. Crazy? Probably. But Etsy did make plans to move into the neighborhood, signing up for 200,000 square feet in the Jehovah’s Witness Towers conversion just 10 minutes away from Globe. The towers will soon see a transformation into a high-tech incubator and residences (seen above). Mr. Marks told Crains: “Office tenants will start to see it as a great location.” By association, of course.