In October, Shapeways, the 3D printing company announced their plans to bring manufacturing back to New York City with their "Factory of the Future," a new 3D Printing facility being built in Long Island City, Queens.
According to Crain's, Shapeways signs up for 25,000 square feet of manufacturing space in Long Island City and 6,000 square feet of office space on Park Avenue South. Steven Blair Strati, a broker at Cushman & Wakefield who represented Shapeways in both leases, said Shapeways signed a 10-years contract and successfully negotiated rents of about $15 per square foot. Besides that, Shapeways is also eligible for a property tax credit for relocating, according to city's Relocation and Employment Assistance Program (REAP), Shapeways is eligible for city tax deduction of $3,000 for every employee it brings to the new location.
"Long Island City is where they feel they need to have their production center," Mr. Strati said. "Even if you're on the fringes of Manhattan, you're still paying a lot more than the deal they got (in Long Island City)."
Mr. Strati said the company is fast growing and would likely expand into the remainder of the eighth floor at 419 Park Avenue South, which is 12,000 square feet in total, sometime next year.
Watch the video below, Andy Greenberg of Forbes spoke with Shapeways' designer evangelist Duann Scott and took a tour of Shapeways's Queens factory.
Posted in 3D Printing Services
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