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The condo bust of the mid-aughts had come and gone, apartments were moving briskly again, and most people had resigned themselves to a future in which the Williamsburg waterfront became a string of residential towers like the Edge, boring and expensive, fronted by an uninspired strip of parkland. The previous developers had worked out a deal with the city to build condos and rentals - just under 30 percent of the rentals would be affordable - with a waterfront esplanade. When Two Trees bought the Domino site in 2012, it had already been rezoned for residential development after years of land-use wrangling, and it seemed likely that the development would be largely luxury apartments. Maybe it could just be, well, pleasant: a place near home that employees go for camaraderie, collaboration, or, if nothing else, to escape their vaguely depressing work-from-home setups a few times a week.
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Maybe going back doesn’t have to be agonizing and antagonistic, spurred either by threats of layoffs or desperate incentives like free lunch and Lizzo concerts. Two Trees, however, is banking not so much on work space as it was in 2019 - a bench desk in a Greater Midtown building filled with bad fluorescent light and half-eaten Sweetgreen salads - but on the office as it never really was. At a time when so many return-to-office efforts have failed, Domino presents an alternative vision of what office life might look like.
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Domino is being built on spec - meaning, without an anchor tenant in place - with floors as large as a midtown office building and rents of $60 to $90 per square foot, which one commercial broker I spoke to described as “very aggressive for that market.” (That’s $1.8 to $2.7 million a year for a full floor.) The developer is hoping to rent the penthouse for even more. Vacancy in Manhattan is at almost 19 percent and it’s anyone’s guess if employers’ latest attempt to lure workers back to the office will take this time around.
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Since the start of the pandemic, office attendance on any given weekday in New York City hasn’t cracked 50 percent.ĭomino is a big bet on office space at a time when the future of the office is very much up in the air.
Two Trees started leasing late this summer, right before employers attempted to call workers back yet again, after numerous COVID waves, employee rebellions, poorly implemented hybrid schedules, and, most recently, summer, foiled earlier attempts. The refinery is in the midst of being converted into a 460,000-square-foot Class A office building (that is, the nicest category of office building with the most up-to-date building systems and amenities), slated to open next fall. But unlike most new Brooklyn penthouses, this will be an office space rather than some celebrity’s showplace home. It was there that, on a recent morning, workers were installing the first of the steel arcs that will form the ribs of the refinery’s glass penthouse, a 27,000-square-foot spread with 30-foot ceilings and sweeping views of the Manhattan waterfront. The dogs and joggers and bicyclists multiply, moving up and down Kent Avenue and looping around the perimeter of Domino Park, a lush little oasis at the heart of Two Trees’ $3 billion Domino Sugar complex, a cluster of gleaming towers anchored by the landmarked 19th-century brick factory that gives the waterfront development its name. Cool air perfumed with leather and sandalwood and polished people flow out of the front doors of well-decorated lobbies. But as you move toward the river, the breeze picks up.
On a hot summer day, the base of the Williamsburg Bridge is all direct sun and concrete: bus terminal, traffic ramps, parking lots, the industrial neighborhood that Williamsburg once was still palpable beneath the dusting of coffee shops and salons that have opened in recent years.
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