By Linda Collins
Brooklyn Daily Eagle

DOWNTOWN BROOKLYN — At 401 feet, and now that the Williamsburgh Savings Bank has been converted to residential, 16 Court St. is considered to be Brooklyn’s tallest commercial building.

Work begins this week to also make it one of Brooklyn’s best commercial buildings, according to Steve Durels, executive vice president and director of leasing for new owner SL Green, who said he was in the building Friday to look at the hallways that will be redone.

“We’re going to take this building to a level its never seen before,� Durels told the Eagle yesterday. That includes replacing the existing elevator cabs and upgrading the elevator mechanicals, creating a new lobby, refurbishing hallways and restrooms and replacing all of the building’s windows as spaces become available. Air conditioning will also be installed in each office that will be layout-specific and tenant-controlled, Durels explained.

And the now-empty office spaces will be pre-built and tenant-ready.

“SL Green’ practice in Manhattan is to do pre-builts so that is what we’ll do here,� said Chris Havens of CRES, who with CB Richard Ellis, is handling leasing onsite.

“The problem for small businesses — and most of the building’s occupants are small businesses like law firms, accounting firms, service firms — is they can’t even keep up with their own work much less have to envision and design an interior, and deal with contractors and paint, etc.,� said Havens, who added that often when a future tenant calls, they need the space in two or three weeks.

“With pre-built space, we can say ‘here’s the space, it’s ready, if you’re interested here’s the lease.’ It’s that simple,� Havens explained.

Havens believes the building, once completely refurbished, will be fully leased and will remain fully leased.

“I think this is the best single office location in Brooklyn. It’s downtown, it’s open on three sides and has large windows allowing in so much light. It has harbor views and it is positioned on top of six subway lines literally right down stairs.�

Currently, 60,000 square feet of the building’s 310,000 total square feet is vacant space of varying sizes, including the following three, which this writer visited on a recent tour.

These included a 4,035-square-foot office on the 26th floor with windows and fantastic views on all four sides; a 1,714-square-foot office on the 20th floor with windows on three sides; and a 6,854-square-foot space on the eighth floor that is all open loft space with 17 windows on three sides. Rents will be in the $45 per square foot range, according to Havens, who estimates that new pre-built spaces will be available beginning in March.

Havens said his goal (and SL Green’s goal) is to not only make 16 Court the best commercial building in Brooklyn but to make it the best pre-war commercial building, the best run building and the best building for small tenants.

© Brooklyn Daily Eagle 2007
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