Home Housing & Development NYC Economic Development Corporation Selects Company for Industrial Site in the Bronx

NYC Economic Development Corporation Selects Company for Industrial Site in the Bronx

New York City, Nov. 19, 2007 – New York City Economic Development Corporation (NYCEDC) selected Pearlgreen Corporation to develop an 80,000-square-foot industrial facility on an approximately 108,500-square-foot site at 1734 Bathgate Avenue within the Bathgate Industrial Business Zone in the Bronx. Pearlgreen, a 74-year-old, family-operated business based in West Harlem, will occupy approximately 60,000 square feet of the new facility. Twenty thousand square feet will be leased to other industrial businesses. The project represents a significant investment in the Bronx and is expected to add about 60 new jobs in addition to the 60 workers Pearlgreen currently employs.

“This project is a win-win for all concerned,” said NYCEDC President Robert C. Lieber. “A long-standing New York City company will be able to continue its impressive record of quality service and growth in the City, small industrial companies will have space for startup operations, and the Bronx will become home to another successful industrial operation. I am pleased that EDC was able to play a role in this transaction.”

“The Bronx is booming and every day more and more people are realizing that the Bronx is the place to establish and grow a business,” said Bronx Borough President Adolfo Carrion, Jr. “I welcome Pearlgreen Corporation to the Bronx and applaud EDC for recognizing that the Bronx is a great investment.”

The new facility will be a first-class modern industrial supply warehouse with a 70,000 square foot ground floor and 10,000 square feet on a mezzanine or second floor. Pearlgreen will initially occupy 50,000 square feet on the ground floor and the entire second level, which will be used for administrative offices, conference rooms and storage space. The remaining 20,000 square feet will be rented to other industrial tenants. The leased space will eventually be recaptured to accommodate Pearlgreen’s future expansion requirements.

“The entire family is extremely excited about building Pearlgreen’s new home in the Bronx,” said Pearlgreen President Lawrence Greenberg. “The Bathgate parcel is the ideal site to house our operation and this new facility will provide ample space for both our current and future needs. The site’s location provides superior access to major roadways, keeping Pearlgreen well connected to our customers throughout the NYC metropolitan area. Most importantly, our new home in Bathgate ensures that a fourth generation of the Greenberg family will continue to do business in the City.”

Pearlgreen plans to integrate environmentally sustainable design principles with the construction and management of the project. The building will feature a structural steel frame over reinforced concrete footings with split-faced concrete masonry exterior walls. A 70-foot set-back will create ample room for parking and attractive landscaping. Pearlgreen is selling its current facility in West Harlem to Columbia University who is assisting Pearlgreen with the development of its new facility. Pearlgreen was selected to develop the site based on a response to a Request for Proposals issued by NYCEDC.

A wholesaler of building maintenance and contractors’ supplies and hardware, Pearlgreen provides its customers with products that include building materials, tools and lighting, along with janitorial, electrical, plumbing and painting supplies. Pearlgreen’s customers include some of the top property owners, managers and construction companies in the New York-metro region. PearlWeave Safety Netting Corporation, a subsidiary that designs, manufactures and sells safety netting systems for construction, industrial, maritime and recreational applications, was formed in 1986 and its products are marketed and sold throughout the country.

About Pearlgreen

Pearlgreen was founded in 1934 when Irving Greenberg and his wife Pearl opened Pearlgreen Hardware in the basement of a brownstone on West 83rd Street in Manhattan. The store changed locations several times, but remained on the Upper West Side of Manhattan for the next 50 years. In the early 1980s, Sam Greenberg took the business in a new direction and closed the retail operation and expanded the wholesale building maintenance and contractors’ supply businesses after relocating to West Harlem. The company, now being run by the third generation of the Greenberg family, has expanded twice at its current location, and today has outgrown the building that has housed it for nearly 25 years. The new facility will enable Pearlgreen to operate more efficiently, maintain competitive pricing for its products, and provide space for future growth.

About NYCEDC

New York City Economic Development Corporation is the City’s primary vehicle for promoting economic growth in each of the five boroughs. NYCEDC’s mission is to stimulate growth through expansion and redevelopment programs that encourage investment, generate prosperity and strengthen the City’s competitive position. NYCEDC serves as an advocate to the business community by building relationships with companies that allow them to take advantage of New York City’s many opportunities.