Brause Realty unveils BridgePlaza TechCentre

Real Estate Weekly, March 29, 2000

Work is underway to transform one of Long Island City's legendary structures the Former Brewster Building at 27-01 Bridge Plaza North - into a state-of-the-art technology center to be known as BridgePlaza TechCentre.

Owned since the early 1980's by Brause Realty Inc., the six-story, 400,000 square-foot building overlooking Queensboro Bridge is strategically located along the new "fiberlink" - the corridor where fiber cable is being routed from Manhattan through Queens and Long Island.

With that kind of highly desirable cable accessibility, the Brause firm has embarked on a sweeping renovation to bring this venerable structure, built in 1911, into the 21st century.

The multi-million dollar upgrade will include a complete exterior facade rehabilitation, new lobby, elevators, windows, 21st century mechanical, electric and electronic systems, and much more. By the end of the summer, David Brause, who is heading his firm's development and leasing efforts, expects to be able to offer immediate occupancy to high tech companies, including telecom and office users.

According to Brause, a number of factors are boosting his company's confidence in the ultimate success of this project. He noted, for example, that Long Island City, just minutes from Manhattan and served by eight separate NYC subway lines, is already a hotbed of dot.com leasing activity; demand from hightech users is surging (he's already had multiple inquiries from such companies needing immediate occupancy); and most important, rents will be as much as half of what's being asked for in comparable space across the bridge in Manhattan.

In addition, Brause has the ability to add over 160,000 square feet of space to the building. "We will enlarge our floor plates from 61,000 square feet to 85,000 square feet when demand warrants it," he says, "thereby accommodating the growth of our expansion-minded tenants."

Yet another bonus for prospective users is that there are few, if any, signage regulations in the area. Thus, tenants could secure significant rooftop image identification if they so desired.

Throughout its history, 27-01 Bridge Plaza North has demonstrated a remarkable ability to adapt to the changing technologies of its time. It moved smoothly from manufacturing horse carriages in the early part of the 20th century to building Rolls-Royce automobiles, and then Brewster Bufalo airplanes, and finally, in the 1970's, to garment manufacturing. Now the building is preparing to meet the newest technologies of our time - the Internet and telecommunications industries.