EXCLUSIVE: Planned Brooklyn Co-Working Space 'The Vault' Is 'Long Dead'

CROWN HEIGHTS, BROOKLYN — Widely hyped plans for a 20,000-square-foot co-working space at 1000 Dean St. in Crown Heights, former wintertime home of the popular Brooklyn Flea and Smorgasburg markets, are "long dead," according to the leasing agent responsible for the property.

The now-defunct project, which received far-reaching media coverage in December 2015, was to be run by The Vault SF. According to a Crain's New York report at the time, the San Francisco-based company signed a 10-year lease for the first floor of the building — originally a Studebaker Service Station and currently home to a growing list of tenants, following a major renovation.

The trio of real-estate firms behind the 1000 Dean St. redevelopment have pitched it as "a historic 150,000-square-foot commercial building reimagined as the 21st century home for Brooklyn's creative community." Berg'n, a massive food and beer hall operated by Brooklyn Flea, is connected to the Dean Street structure on the ground floor (although its entrance is on Bergen Street).

Initial reports said the The Vault's new East Coast co-working space would open in 2016. However, as of late October, it's still empty. A tattered work permit seen on a first-floor window Tuesday expired back in May.

Pictured: The first floor of 1000 Dean St., as seen on Oct. 25, 2016. Photos by John V. Santore

A spokesperson for The Vault did not immediately return a request for comment. But Chris Havens, the leasing agent in charge of the property, said the project was "long dead" after falling through in the spring.

"We tried to do it for a year, and it never happened," Havens said. "It's very challenging. This is not DUMBO. We tried, they tried. Unfortunately it didn't come to pass." Havens wouldn't provide further details concerning the arrangement.

The A&E network, on the other hand, is still planning to move into 1000 Dean, as announced earlier this year, Havens said. The network will be opening an 11,775-square-foot digital film studio in the space called 45th & Dean, according to reports.

Havens is also moving forward with other tenants interested in the space left behind by The Vault, which has now been divided up into five parcels. He said he expects to have three or four of the parcels signed by the end of this year.

The agent said the spaces range in cost from $15 to about $35 per square.

While Havens wouldn't provide details on the clients he's negotiating with, he said they aren't in the film industry.

Editor's Note: This post has been updated to include additional details.