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New York & Tri-State  + Outer  + Industrial  |  October 13, 2025
Paul Bubny
By: Paul Bubny

Brooklyn Film & TV Studio Developments Close on $552M Financing

New York City Economic Development Corporation (NYCEDC), New York City Industrial Development Agency and Bungalow Projects closed on two transactions totaling $552 million to support the construction of two high-end film and television production studios in Brooklyn. Located at 176 Dikeman St. in Red Hook and 242 Seigel St. in Bushwick and totaling approximately 600,000 square feet, the facilities will be branded as Echelon Studios.

“As the top destination in the country for talent, and leader in innovation, New York City is ripe to grow its presence as a global production destination,” said NYCEDC president & CEO Andrew Kimball. “With workforce development and sustainability at the center of these projects, they will serve the surrounding communities and larger industry and complement our work across Brooklyn.”

The two facilities will seek LEED Gold certification and will be 100% electric, with more than 25% of electric demand expected to be supported by rooftop solar panels.

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About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 16-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 7-10 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).
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  • ◦Development
  • ◦Financing