HK Organization Unveils Capital Improvement Plan For 333 Washington Street in Jersey City

JERSEY CITY, N.J., Jan. 25, 2021 /PRNewswire/ -- HK Organization, an investor and developer of exceptional properties, unveiled plans for a comprehensive capital improvement plan at 333 Washington Street, a loft office building in Jersey City. The multi-million-dollar restoration includes a new lobby and upgrades to all common areas and building systems that will deliver a fully modern office opportunity within a loft building in the heart of the Powerhouse Arts District.

"We've cultivated a COVID-friendly boutique office environment with high ceilings, oversized operable windows, outdoor space and many original details for companies that want the convenience and amenities of Jersey City. In a market full of anonymous glass towers, we're able to give companies a unique and personal office setting," said David Dobkin, HK's Director of Investments. "333 Washington is truly one of a kind and even before COVID-19, there was a growing demand for business districts outside of Manhattan. In a post-COVID world, the trend of people wanting to live near where they work will continue. Workers will also crave direct access to open space during the workday that will have manageable density. There is no place that includes all of these ingredients better than Jersey City."

Constructed in 1900 and first renovated in 2002, 333 Washington Street is a 45,000-sq.ft., four-story property with a current combined office and retail availability of 31,464 square feet. The property features a private rooftop terrace, and is the perfect fit for larger companies looking for a hub in a dense urban market, as well as for smaller startups currently crammed into coworking spaces searching for socially-distanced private office suites in the middle of a vibrant 15-minute city. In addition, HK is embarking on a campaign to upgrade the building common areas including a renovated lobby with modern industrial finishes, updated elevator cabs, and new HVAC systems.

The team of Daniel Reider and John Crawford of Newmark recently secured two new tenants for 333 Washington Street. They announced that PuppySpot, an online marketplace committed to helping responsible breeders place their puppies with caring individuals and families throughout the U.S., leased 11,349 square feet on the third floor and will move in the first quarter of 2021. In addition, a notable e-commerce haircare company leased 2,061 square feet on the second floor and has recently moved in. HK is also in discussions with several creative technology, fashion, and media companies seeking bespoke office space in the heart of a thriving live-work-play neighborhood.

"We're proud to offer 333 Washington, a true stand-out in a crowded market, as the option for tenants that want a radically different environment than the cookie-cutter workspaces lining Jersey City's waterfront," Newmark's Dan Reider said. "We know there is an appetite for the turn of the century loft spaces, and as we continue the transformative and comprehensive modernization campaign, including fresh air intake and UV purifiers, and common area design, 333 Washington provides just that."

Designed in partnership by noted firms Studio 1200 and Bednark, the new design of 333 Washington in Jersey City draws on the history of the building, featuring selected materials such as polished steel and wooden columns. The lobby will include a renovated reception area, modern updates to the existing floors and the introduction of new signage.

In addition to the office opportunity, 333 Washington also offers an 8,139-square-foot first-floor retail space with 200 feet of frontage on Washington and Morgan Streets. HK Organization has hired Neil Seth of Cushman & Wakefield as Exclusive Retail Leasing Agent.

"We have more than 5,000 apartments and a thriving entertainment, dining and retail experience within a 10-block radius, so our location really has a commanding seat to serve thousands of those living and working in this area," Mr. Seth said, noting that a flagship Whole Foods will open just down the block.

333 Washington offers proximity to all forms of public transportation, walking distance from the Grove Street, Newport and Exchange Place PATH stations, the Hudson Bergen Light Rail stops, and the Harborside and Paulus Hook ferry stops.

For information about 333 Washington, and to experience virtual tours of the building, visit www.333wash.com

About HK Organization

HK Organization is a real estate owner and developer focused on the innovative transformation of underutilized buildings. HK Organization has built several million square feet of residential, commercial and industrial space, focusing on emerging markets and identifying pioneering projects that revitalize and enhance neighborhoods and communities with enduring value.

Contact:
Great Ink Communications
212-741-2977
Tom Nolan ([email protected])  
Eric Nizguretsky ([email protected])

SOURCE HK Organization