Construction is progressing on 240 Broadway, a five-story commercial conversion in South Williamsburg, Brooklyn. Designed by Mancini Duffy and developed by ZB Capital Group, which acquired the property for $20.1 million, the project involves the renovation of the 36,254-square-foot 19th century cast iron building’s façade and conversion of its 24 loft units into three stories of coworking space and a two-story restaurant and rooftop bar operated by Freehold Brooklyn. Spring Rock, LLC is the general contractor for the property, which is located on an interior lot between Roebling and Havemeyer Streets, directly across from the elevated Marcy Avenue subway station servicing the J, M, and Z trains.
240 Broadway’s northern elevation facing Broadway is currently shrouded in scaffolding and construction netting as work gets underway. Renderings show the rusted cast iron façade restored to its original condition and painted bright white.
The below renderings preview the office space and outdoor terraces.
240 Broadway’s residential units were vacated in 2019. The property was added to the National Register of Historic Places two years later, allowing the developer to use tax credits to restore the property under the following preservation guidelines: Inside, the mechanical infrastructure will be modernized and upgraded with the two new elevators, and the interiors will be reconfigured along with the addition of a penthouse office space and room for amenities. The building will have a total capacity of 450 people. Ripco Real Estate is in charge of leasing the retail portion, which measures 13,803 square feet with 7,748 square feet in the cellar level and 6,055 square feet on the ground floor.
240 Broadway’s anticipated completion date is slated for November 24, 2024, as noted on site.