DOWNTOWN BROOKLYN — STEINER, A COMPANY DATING BACK 118 YEARS, has bought out Hub, JPMorgan’s Brooklyn skyscraper stake, in a $420 million deal, Crain’s New York Business reported on Thursday, March 13. The equity buyout of Steiner’s partner, JPMorgan Asset Management, makes Steiner NYC the sole owner of this luxury rental building at 333 Schermerhorn St. Steiner purchased the site in 2011 for $23.5 million; upon its completion six years later, Hub had become the tallest building in Brooklyn by its completion in 2017. Although the JDS and SHoP Architects’ 93-story luxury condo building on Fleet Street, named the Brooklyn Tower, has since risen taller. Dattner Architects, who designed Hub, said it had won the 2018 Building Brooklyn Residential High-Rise Award.
Citing a website for Hub, Crain’s reported that rents there range from $3,480 for a studio to $5,437 for a one-bedroom, with eight apartments available as of press time. Steiner has indicated that no major changes to the building will be made as a result of this deal.
Steiner, which was established in 1907, is famous for its namesake Steiner Studios, which makes its home at the Brooklyn Navy Yard and is the largest such film producer outside Hollywood.
✰✰✰
