Thought to be Ideal for
Residential Conversion
By Linda Collins
Brooklyn Daily Eagle
DOWNTOWN BROOKLYN — The 38-story building at 16 Court St., long a recognizable as a Downtown Brooklyn icon and as a commercial building that is home to numerous law firms, court reporting firms and related offices, is now on the market, according to at least three sources known to the Brooklyn Eagle.

The 275,000-square-foot pre-war building is one of several downtown buildings owned by Court Street Investors and managed and leased by the Joseph P. Day (JPDay) Realty Corp. Robert James Oliver, vice president of JPDay, was out of the office until next Tuesday and could not be reached.

No asking price has been put forth but, according to one reliable source, Darcy Stacom, vice chairman and partner of CB Richard Ellis (CBRE) Investment Properties Group in Manhattan, has the exclusive listing and is accepting bids.

Sources are speculating on the building’s potential for residential conversion, but others believe the owners are the ones who are speculating.

Barry Kamins, whose law firm occupies nearly a full floor in the building and holds a longterm lease, said he was told that the sale would depend on what the bids are and whether they would make it worth selling.

Kamins was also told that the bids are due at the CBRE offices in Manhattan on June 5.

© Brooklyn Daily Eagle 2007
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