BNYDC Building 127

About the project

The Brooklyn Navy Yard Development Corporation (“BNYDC”), a not-for-profit corporation that serves as the real estate developer and property manager of the Brooklyn Navy Yard on behalf of its owner, the City of New York. The Brooklyn Navy Yard is a mission-driven industrial park that is a nationally acclaimed model of the viability and positive impact of modern, urban industrial development. Their mission is to fuel New York City’s economic vitality by creating and preserving quality jobs, growing the City’s modern industrial sector and its businesses, and connecting the local community with the economic opportunity and resources of the Yard.

The Yard is now home to over 330 businesses employing more than 7,000 people and generating over $2 billion per year in economic impact for New York City.  Building on the Yard’s history as the economic heart of Brooklyn, the 300- acre, waterfront asset offers a critical pathway to the middle class for many New Yorkers. The Yard is currently undergoing its largest growth phase since World War II, and BNYDC oversaw the development of approximately 2 million square feet of new commercial space through 2020, which almost doubled daily employment. 

BNYDC is located in Brooklyn, New York. 

LISC provided a $5.06 million bridge loan to BNYDC for the rehabilitation and renovation of the historic Building 127 at the Brooklyn Navy Yard, restoring the approximately 100,000 square foot building to active manufacturing use that supports the Brooklyn Navy Yard’s job creation and economic development mission. Building 127 is in one of the densest areas of the Brooklyn Navy Yard, and its thoughtful renovation and return to a job-dense use supports the Navy Yard’s existing, planned growth. BNYDC expects that approximately 300 jobs will be created at the new Building 127 manufacturing and technology center, and BNYDC will actively work with the Brooklyn Navy Yard’s Employment Center to link local residents to high-quality jobs. 

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