BROOKLYN, NY The Treeline Companieshas commenced the exterior restoration and interior renovation of an unused portion of Macy’s location in downtown Brooklyn. Treeline is converting the property to produce approximately 110,000 square feet of new Class-A office space. The property, which offers 15,000 square-foot wide-column floorplates and abundant natural light, has been renamed 177 Livingston Street.

“We are proud to add this property to the growing Treeline Companies’ portfolio, and delighted for the opportunity to continue creating outstanding office space in Downtown Brooklyn,” said Frances Schor, President of The Treeline Companies. She noted that 177 Livingston Street will join the companies existing Downtown Brooklyn properties, including 180 Livingston Street, 175 Remsen Street, and 188, 189 and 205 Montague Street.

The Treeline Companies’ Brooklyn office building portfolio is fully occupied, and increased demand for quality office space in Downtown Brooklyn is driving the company’s creation of this additional inventory. This latest project reinforces the company’s long-time commitment to the neighborhood.

The redevelopment of this underutilized property won’t affect the operation of the existing Macy’s store, which will remain a strong retail force in Downtown Brooklyn.

The Treeline Companies took possession of the nine-story, high-ceilinged, ornate brick building last April and began the redevelopment to separate the properties, and install all new mechanical, electrical, elevator, heating, wiring and HVAC systems.

With the interior demolition and property separation now complete, Treeline is currently restoring the classic façade of the building and creating a new entrance for the converted office property on Livingston Street. The building is expected to be ready for occupancy by late winter 2007. In addition to the new office space, an approximate 6,000 square–foot ground floor retail space with separate street entrance will also be created, perfect for users such as a bank, medical offices or a national credit retailer. Considerable basement space is also available for tenants seeking a larger multi-level retail space or additional storage area.

The property at 177 Livingston Street offers convenient access to 11 subway lines and the Long Island Railroad within a five minute walk, as well as close proximity the federal, state and municipal courts.

In addition to the new entrance, attended lobby, HVAC and elevator systems, 177 Livingston Street will also feature state-of-the-art telecommunications access, cutting edge security systems, 24/7 card access and expansive floorplates that can be customized for a variety of tenant uses.

“Downtown Brooklyn is undergoing its latest and most profound renaissance, and this opportunity will allow us to save and incorporate existing, historic architecture into the commercial revitalization,” Ms. Schor said. “This redevelopment will also be a lightning rod for new retail opportunities and the further enhancement of the area.”