Monday, August 15, 2011

Bloomberg to Announce Developer for Brooklyn's Municipal Building Today

Mayor Michael Bloomberg will announce Al Laboz as the developer for Downtown Brooklyn's Municipal Building on Monday, according to NY1.

Laboz is chairman of the Fulton Street Mall Improvement Association and is currently building an H&M clothing store nearby.

The Municipal Building is located at 210 Joralemon Street at Court Street in Downtown Brooklyn.

Laboz is one of the principals of United American Land LLC, a family-owned real estate development, investment and management company based in Soho, along with his brother Jason and Jody Laboz.

The city's Economic Development Corp. issued a request for proposals from developers in December.

As McBrooklyn has previously reported, the original plan called for the conversion of the bottom two floors of the building to retail space. About 37,000 square feet of space on the ground floor and second floor is on the market -- about the same size as Manhattan's Bed Bath & Beyond, says Racked.

City offices have been moving to higher floors. The Post Office on the ground floor is one of five on the chopping block in Brooklyn.

UAL has assembled a group of properties by Fulton Street, Bridge Street and Willoughby Street in Downtown Brooklyn, adjacent to Metrotech. According to United American Land's website, this assemblage has over 1.3 million buildable square feet of air rights, which UAL will develop into a complex of mixed retail, residential and office use.

Top photo by MK Metz
Rendering Courtesy of Studio AMD

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