NYC developer makes first foray into Brooklyn

New York

TISHMAN Speyer, one of the city's largest and oldest commercial landlords, is making its first foray into Brooklyn. The developer, which owns such trophy office properties as Rockefeller Center and the Chrysler Building, is constructing a 620,000 square foot office tower on top of the Macy's department store in downtown Brooklyn.

The US$500 million project will integrate the top four storeys of the existing Macy's structure at 422 Fulton St with new construction, to create a 10-storey building. The new tower is being constructed speculatively, or without an anchor tenant, and will be ready for occupancy in mid-2019.