Brooklyn Navy Yard – Newlab

A NYCRC-managed entity provided a $12 million loan to help fund the construction of an 84,000 square foot high-tech manufacturing complex within the Brooklyn Navy Yard.

The development is part of a broader strategy to revitalize New York City’s high-tech manufacturing base by drawing on its strength as a hub for design schools, universities, and technology companies. The capital was loaned to an affiliate of Macro Sea, the real estate company selected by the Brooklyn Navy Yard Development Corporation to oversee the project. The interdisciplinary manufacturing center, known as Newlab, is providing collaborative work space for digital manufacturers, architects, university researchers, entrepreneurs, and inventors. The facility includes private studios, conference rooms, co-working desks, and a state-of-the-art prototyping workshop. The space also includes a full metal shop, wood shop, and 3-D printing area to allow tenants to take their ideas from concept to prototyping to production all under one roof. The project also involved surrounding infrastructure improvements necessary for this new development.

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. The Navy Yard is home to approximately 550 businesses employing more than 11,000 people and generating over $2.5 billion per year in economic impact for the city. The industrial park was once the nation’s most storied naval shipbuilding facility, and for over 150 years built and launched America’s most famous fighting ships, including the USS Maine, USS Arizona, and USS Missouri.

“Newlab brings together graduate students, designers, and high-tech manufacturers in a unique space that encourages innovation and collaboration. The Navy Yard’s community of manufacturers represents the future of urban industry and this project is seeding the next generation of cutting-edge Navy Yard businesses.”

– David Belt, Founder and Executive Chairman, Newlab