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"We're going to be the only co-working space in not only Crown Heights, but also in a space that is close to neighborhoods like Bed-Stuy and Park Slope," Mody said. "We think there's a tremendous demand in these neighborhoods for this kind of space that has not been filled."
The Vault rented the Dean Street space for 10 years. The firm will be the building's largest office tenant and brings the property, a former Studebaker automobile repair facility, up to 89% occupancy. Among the other tenants include D'Addario Guitar, Praytell Strategies and the Brooklyn Academy of Music. The building is owned by a partnership between Brooklyn Flea co-founder Jonathan Butler, BFC Partners and Goldman Sachs.
20,000 SF of primarily young, college educated people.