Evergreen has purchased 500 Stagg Street, a 10,000 square foot warehouse building. We used funding from the NYC EDC Industrial Developer Fund program to acquire it. We also have a construction grant from NYS Empire State Development and received a pre-development grant from ANHD through the Citi Community Foundation. We will be renovating the building into a multi-tenant manufacturing facility, which should be ready by late 2020.
It was a tremendous effort that involved a whole team of amazing collaborators. We’d like to thank our funders at EDC in both the IDF and IDA programs, New York State Empire State, ANHD & Citi Community Foundation; our lenders at LISC, our consultants at BJH, our legal team at Seyfarth Shaw, Gary & Allison Goldenstein of Allison Eden Studios for providing testimony on the importance of affordable industrial space, our Council Member Antonio Reynoso, our Board and all the other folks who provided advice and assistance, and the seller-broker team of M&S Levy Realty and Matt Kaplon for working with us to get this deal done.
If you are interested in leasing a space in the building, please contact Stephen Fabian to learn more about the opportunity.