CIM Group Announces Recent Leases at Brooklyn’s Iconic 16 Court Street in Brooklyn Heights

NEW YORK--(BUSINESS WIRE)--CIM Group announced today that it has executed new long-term leases and lease extensions with a diverse group of businesses at 16 Court Street, a 36-story, 317,600-square-foot office building prominently located at the intersection of Brooklyn Heights and Downtown Brooklyn.

The historic 16 Court Street opened in 1928 and with a striking tiered design and Neo-Romanesque architectural style. It is an impressive presence in the neighborhood and on the area skyline, providing occupants of the upper floors with unobstructed views of Brooklyn, Manhattan and New York Harbor. Located at the corner of Court and Montague Streets, the building has been recently updated to providing brand new high-end modern office opportunities for tenants seeking boutique-size floor plates ranging from 4,000 to 12,500 square feet. Located on the border of Brooklyn Heights and Downtown Brooklyn, proximate to diverse and walkable residential, retail and commercial offerings such as Brooklyn Commons and Citypoint, 16 Court Street sits atop the Borough Hall 2, 3, 4, and 5 MTA stops and is just steps away from every other major multiple subway line providing easy connection to Manhattan and other Brooklyn neighborhoods.

A new lease has been executed with Sasaki Associates, a well-known architecture, landscape and design firm, which will occupy 9,500 square feet on the partial 14^th floor. Pineapple Street Studios, a leading podcast production company, will occupy 5,535 square feet on the 15^th floor. New Deal Strategies, a full-service political consulting firm, has taken the entire 4,200-square-foot 34^th floor.

In addition, long time existing law firm tenant Friedman Sanchez, LLP has extended its lease for the 4,400-square-foot on the entire 26^th floor.

“16 Court Street is an appealing business location option for small and mid-size businesses as its design creates smaller full-floor options not generally available in a Class A office property. The building provides a highly-desirable combination of contemporary offices with historic charm and character,” said Shaul Kuba, Co-Founder and Principal, CIM Group.

16 Court Street offers convenient access and a premier location in the hub of Brooklyn Heights that is populated with a mix of shops and restaurants. The building was completely renovated in 2017 and CIM Group has continued to invest in modernizing the building systems and infrastructure. 16 Court Street offers on-site bike storage, coffee shop, security and restricted key card access.

For more than a decade, CIM Group has been an active owner and developer in the New York metropolitan area. CIM has successfully repositioned several office assets in New York City, attracting quality office and retail tenants seeking to improve the surrounding communities.

For more than 25 years, CIM Group has utilized its broad expertise to own, develop, reposition, and operate real estate assets, transforming communities and creating dynamic environments throughout the Americas.

About CIM Group

CIM is a community-focused real estate and infrastructure owner, operator, lender and developer. Since 1994, CIM has sought to create value in projects and positively impact the lives of people in communities across the Americas by delivering more than $60 billion of essential real estate and infrastructure projects. CIM’s diverse team of experts applies its broad knowledge and disciplined approach through hands-on management of real assets from due diligence to operations through disposition. CIM strives to make a meaningful difference in the world by executing key environmental, social and governance (ESG) initiatives and enhancing each community in which it invests. For more information, visit www.cimgroup.com.