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Brooklyn Navy Yard

Background

Established in 1801 and owned by the United States Federal Government, the Brooklyn Navy Yard ("Navy Yard") served as one of the premier ship-building facilities in the United States for more than 150 years. In 1967, the City of New York purchased the Navy Yard from the Federal Government and reopened it as an industrial park.

It is a vibrant industrial complex spread out over 300 acres (1,821 mu) on the scenic Brooklyn waterfront and encompasses 44 buildings, 3 fully functioning dry docks and 4 active piers. It has 4,000,000 square feet (371,609 square meters) of leasable space, all fully occupied. And it houses more than 230 companies that generate a workforce of more than 5,000 permanent employees.

The Brooklyn Navy Yard is managed by the Brooklyn Navy Yard Development Corporation ("BNYDC"). The BNYDC is a not-for-profit corporation, pursuant to the not-for-profit laws of the State of New York. It operates under a lease with the City of New York that expires in 2069. The BNYDC's Board of Directors is appointed by the Mayor of New York City and is comprised of leaders of Brooklyn's economic development community. It's President and CEO is appointed by the Board, subject to approval of the Mayor. Consequently, the BNYDC is considered a component of the City of New York and is included in the City of New York Comprehensive Annual Financial Report.

The redevelopment of the Navy Yard is a key element of New York Mayor Bloomberg's plan to create more jobs. As such, the City of New York has allocated $200 million in City Capital funding to these redevelopment efforts.

Project Details

This redevelopment project includes two new industrial buildings and a broad range of infrastructure improvements. Your investment dollars will be combined with US $58,500,000 in City, State, and Federal government funding, bringing the total project budget to over US $118,500,000. The project will bring in over 2,100 jobs which allows for 120 EB-5 investors.

  • Sands Street Building
    BNYDC has completed substantial design on an 89,000 square foot (8,268 square meters) multi-story multi-tenanted LEED Silver certified industrial building, known as the Sands Building. The Sands Building will be located on the western side of the Navy Yard, across from the recently completed Perry Building. It will be modeled on the three-story Perry Building that was fully leased upon completion. Like many other buildings in the Brooklyn Navy Yard, the Sands Building will target a proven market of industrial tenants needing less than 10,000 square feet (929 square meters) of space. Along with the building's rooftop solar panels, wind turbines will provide electricity for the building's lobby and other common areas. The facility incorporates other green features such as reflective roofing and pavement to reduce surface temperatures, the use of recycled rain water in toilets, recycled building materials, high-efficiency lighting fixtures, natural ventilation systems and special accommodation for bicyclists and low-emission vehicles.
  • Green Manufacturing Center – Building 128
    BNYDC will adaptively reuse this massive 215,000 square foot (19,974 square meters) steel structure that was a United States Navy machine shop to create a new 330,000 square foot (30,658 square meters) Green Manufacturing industrial complex. The design for the building will incorporate the steel frames and concrete foundations of the existing buildings. Like the Sands Building, the Center will be multi-tenanted and be LEED Silver certified.

Lion's Analysis | Project Benefits

U.S. law does not permit guarantees to be made to you that you will receive a Green Card and have your investment sum returned; the law stipulates that the investment sum must be "at risk." It is the role of Lion's to help you find projects with very minimal risk, so that you can have as close to a guarantee as possible without violating the law.

Will you get your Green Card (Will 10 jobs be created)?

  • The project is slated to generate significant job creation.
  • The Brooklyn Navy Yard Development Cooperation has a strong history of creating jobs and the expertise and experience to responsibly report jobs to USCIS.

Will your investment be returned to you (Is it a sound investment)?

  • The project is owned by a government agency--BNYDC.
  • All immigrant investor capital will be invested alongside funding by the government, in this case, the City of New York.
  • The project has a clear exit strategy in that the BNYDC intends to repay the Loan with the proceeds of long-term financing.

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