Brooklyn Bridge Park Midtown Equities has released more details on its winning bid to redevelop Dumbo’s Empire Stores warehouses.

Partnering with Rockwood Capital and HK Organization, Midtown Equities will restore seven historic warehouses and expand the existing structure at 55 Water Street, near Brooklyn Bridge Park. The $150 million waterfront project will have 380,000 square feet of LEED-certified cultural, commercial and retail space.

Located in Fulton Ferry Historic District, the ancient Empire Stores building used to be a coffee warehouse. Architect Jay Valgora of Studio V Architecture will design the development, which will feature a Brooklyn-centric museum and outdoor public space, including a rooftop terrace with unobstructed views of the Manhattan skyline.

“After the Brooklyn Bridge, the Civil War-era Empire Stores is the most iconic structure on the Brooklyn waterfront,” Valgora said in a statement. “Our design will restore buildings that have sat empty for a half century, adding a rooftop garden, museum, and dramatic glass courtyard addition that reconnects the community to the waterfront.”

Dumbo-based West Elm has just inked a 20-year lease for 150,000 square feet at the property for a new expanded office, as well as retail spaces for West Elm and West Elm Market stores.

The project is slated to begin in early 2014.

Rendering: Brooklyn Bridge Park via NYDN

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