NEW YORK CITY—Staten Island development firm the Nicotra Group has commenced construction on its largest project to date—a new 330,000-square-foot office building in its home borough.
The Nicotra Group and the New York City Economic Development Corp. held a ceremonial groundbreaking ceremony earlier this week on the eight-story project at the Teleport Campus on Staten Island. The development is projected to create 2,500 jobs at the campus once completed and about 400 construction jobs during development.
Owners Richard and Lois Nicotra tell Globest.com that site-clearing work began at the project site a month ago and that the foundation should be poured in the next several weeks. Work on the new LEED-certified Class A office building is expected to take approximately 18 months to complete.
The firm did not divulge the development cost for the project, but did say that the new office building will be the largest to date for the more than 40-year-old firm. NYCEDC and the Nicotra Group closed on the sale of the 8.5-acre parcel, known as Site A, earlier this summer. The Nicotra Group was selected to develop the innovative office complex after responding to a competitive request for expressions of interest in 2013.
The new building—Corporate Commons Three at the Teleport—will complement the Nicotra Group-owned existing fully-leased Corporate Commons One (120,000 square feet) and Corporate Commons Two (180,000 square feet) properties at the campus. A total of 20% of the new office building will be dedicated for medical use. The building will also create space for a charter school, continuing adult education, a 40,000-square-foot organic rooftop farm that will feature include beehives for the production of honey and a new on-site vineyard. Also planned is a new Italian restaurant, Pienza, Pizza, Pasta & Porchetta, which will donate 100% of its profits to Staten Island charities.
“This is the fifth project we have worked on with the EDC in the last 25 years, and each project exceeded expectations. Today is a literal groundbreaking, but we’re confident that this is a groundbreaking moment for our borough as we encourage businesses, medical practices and schools to ‘Outsmart Manhattan’ and look to Staten Island for more amenities while paying less rent,” say the Nicotras in a joint statement.
“New commercial districts are emerging across the city, from Downtown Brooklyn to the West Shore of Staten Island,” said NYCEDC President and CEO James Patchett. “Corporate Commons Three will create more space for Staten Island businesses to expand and more opportunities for Staten Island residents to get good jobs.”
Richard Nicotra says a lease has been signed with existing tenant the John W. Lavelle Preparatory Charter School, which will expand its operations at the campus and occupy 100,000 square feet of space at Corporate Commons Three. The charter school will retain its operations at Corporate Commons One and Two where it currently occupies a total of approximately 60,000 square feet.
Richard adds that the firm is in discussions with a number of medical providers and hospitals for the approximately 66,000 square feet of available medical space at the property and has some letters of intent out for signature with multiple tenants that would encompass all of the available medical space if finalized.
He adds that the new office building will “be filled with flowers and art” as are all of the firm’s other office and hotel properties in its portfolio. In fact, Lois says that the firm plans to continue that tradition “on a much grander scale” at Corporate Commons Three.
In addition to the Nicotra properties, the Teleport Campus also features two data centers.
The Nicotra business was founded in 1976 as an international fast-food franchise by Lois and Richard Nicotra, The Nicotra Group, LLC has since developed into Staten Island’s largest real estate development company with properties in Staten Island and Manhattan. The firm owns, manages and leases more than 1 million square feet of commercial space. Its more notable holdings include eight Class A office buildings, the 198-room Hilton Garden Inn, the adjacent Nicotra’s Ballroom and Conference Center, Above and Above Rooftop, the popular Lorenzo’s Restaurant, Bar & Cabaret and a 107-room Hampton Inn & Suites.