The 35-story white monolithic Verizon Building that towers over the downtown skyline at 375 Pearl St. could soon get a new vista to Brooklyn.

Seattle-based Sabey Data Center Properties, which operates the 1 million square-foot tower as Intergate Manhattan, is now readying its top 15 stories with 500,000 square feet for office use, and it will install new floor-to-ceiling glass windows.

“You have high ceilings, and the views are outstanding,” said David Falk of Newmark Grubb Knight Frank, who is leading the leasing team that includes Danny Levine, Josh Gosin and Jason Greenstein. NGKF’s Michael Morris leads the data center leasing team.

John Sabey, president of Sabey Data Centers, said, “We have enough space to meet both goals — to build out the best data center and make it a great tech office building.”

The highly secure building next to One Police Plaza can also provide a welcome center, branding and dedicated elevators for a large tenant.

“Companies can put their office space with the great views at the top, and then have the data-center component below,” Sabey said.

Full backup generating capabilities are also available, while electrical costs are submetered at Sabey’s better rates.

The 14th floor is already being prepared for small offices. The full, 35,000 square-foot floors at the top will have asking rents in the low $50 per square foot.

Work is expected to start this summer to open existing windows on the west and add the dramatic glass on the other facades.


The City Council will vote on the final 3.5 million-square-foot Domino Sugar plant redevelopment on Wednesday.

Speaking to the Young Men’s/Women’s Real Estate Association luncheon on Tuesday, developer Jed Walentas of Two Trees said the plan now has taller buildings on fewer sites. The center building of a trio will be a commercial office tower.

The iconic Domino Sugar plant in Brooklyn.Paul Martinka

“We tried to integrate the new development into the surrounding community,” Walentas noted. The street grid will be brought through the site to a new extended River Street that will run north-south and separate the buildings from the riverfront park and esplanade.

The 80/20 project, which was supposed to have just 20 percent affordable units, will now have an extra 40,000 square feet. The total of 538,000 square feet of affordable apartments will be spread over the entire site, as they worked out with the de Blasio administration. “The process was difficult and at times unpleasant,” he added.

Walentas says a “reasonable assumption” for market rents at the first residential building will be in the high $50s per square foot. “When we build the first building it will be nowhere, and it will be more of a somewhere when we build the last building,” he explained, expecting the latter to “be more profitable.

“When completed, it will have an impact not just on Brooklyn but the entire city,” Walentas added.


Blackstone has renewed and expanded its lease to 489,495 square feet at Rudin Management’s 345 Park Ave. Neil Goldmacher and Mark Weiss of Newmark Grubb Knight Frank represented the firm in the deal that brings the occupancy term to 2027.

The deal adds the 27th floor of 38,846 square feet, and the firm has expansion rights.

Tom Keating represented Rudin in-house.