180 Livingston St. almost redeveloped

Real Estate Weekly, March 19, 2003

The Treeline Companies is putting the final touches on one of the remarkable real estate achievements of 2002 -- the redevelopment and total lease-up of the 270,000-SF office building at 180 Livingston St. in downtown Brooklyn.

In the aftermath of the impressive nine-month lease-up of the former warehouse facility, Treeline president Fran Schor reports that:

* Acquisition/construction financing in the amount of $32 million has been finalized with Freemont Investment and Loan.

* Churchill's, a full service restaurant located on the building's ground floor, is expected to open during the first week in March.

* New York City Transit (NYCT), an agency of the Metropolitan Transportation Authority (MTA), is on schedule to move into its 124,000 SF of space beginning around May 1.

The beneficiary of a dramatic $6 million upgrading that includes a distinctive new entranceway and lobby, new passenger elevators, new bathrooms, and the latest state of the art technology and telecommunications systems, 180 Livingston St. was originally built as a warehouse for A & S Department Stores. It later served Macy's in the same capacity before being converted to headquarters space for the city's Workman's Compensation Board. The building was vacant when Treeline acquired it late last year from Federated Department Stores.