Long Island City-based production company Silvercup Studios will be expanding into the Bronx. The film and television production company has invested in a 120,000-square-foot space at 295 Locust Avenue in Port Morris, which they'll run in addition to their Long Island City operation. The company paid $15 million for the warehouse on a site that's just a stone's throw from the East River, and has plans to invest an additional $20 million into the building to turn it into four independent production studios. The Wall Street Journal didn't include an update to Silvercup's Community Board-approved Long Island City expansion when announcing their move into the Bronx.
The buy comes just a week after big-time developer Chetrit Group and Somerset Partners rehashed plans to develop a two-tower mixed use project in nearby Mott Haven, and just four months after production company York Studios snatched up a 10 acre lot with plans to build a 300,000-square-foot production studio, Welcome2theBronx reports.
· Silvercup Studios Buys Bronx Site [WSJ]
· Community Board Approves $1B Silvercup Studios Expansion [Curbed]
· Developer Wants to Rename South Bronx The Piano District [Curbed]