Bungalow Projects and Bain Capital Real Estate have secured $304 million in construction financing to build two large-scale film production campuses in Brooklyn, marking a major step forward for the Echelon Studios development. The combined set will have 600,000 square feet of premium production space aimed at responding to rising demand for soundstages built specifically for production in New York City.
The capital stack includes CounterpointeSRE’s $156 million Commercial Property Assessed Clean Energy (C-PACE) loan, the largest New York State C-PACE transaction and the first for new construction in New York City. The remaining $147 million was supplied by an affiliate of Farallon Capital Management.
Two Modern Production Hubs
The Echelon Studios portfolio will consist of two distinct properties—one in Red Hook and one in Bushwick—each specifically to allow for large-scale episodic and film production.
Echelon Studios Bushwick, situated at 242 Seigel Street, will house six soundstages in total area of 102,000 square feet, along with 86,000 square feet of production support space, 76,000 square feet of office space, and subterranean parking spaces for more than 230 cars.
Echelon Studios Red Hook, located at 176 Dikeman Street, will contain four soundstages totaling 67,000 square feet, 75,000 square feet of support space, 49,000 square feet of offices, and parking for approximately 185 vehicles.
Each is being designed with 40-foot clear heights and column-free structures, featuring cutting-edge electrical, HVAC, and acoustic systems consistent with current production needs.
Sustainability at the Core
Sustainability is the theme of both projects. The structures will be electric-only buildings with solar panels on the roof expected to supply over a quarter of their total energy needs. Both projects aim for LEED Gold certification and are aligned with New York City’s Ultra-Low Energy Building program.
In an extra precaution, both sites fall within the New York State Department of Environmental Conservation’s Brownfield Cleanup Program and have received backing from the New York City Industrial Development Agency.
Increasing New York’s Production Capacity
Through co-founders Travis Feehan and Susi Yu of Bungalow Projects, Echelon Studios aims to correct the widespread shortage of good-quality, purpose-built stages for New York City. The developments will create a total of around 2,400 construction and studio operation jobs.
The studios will also be aided by the increased New York State Film Tax Credit Program, worth $800 million annually until 2036—making the state an even better place to produce TV and film.
The two studios are likely to open in mid-2027, joining significantly in the city’s growing array of production facilities.
Echelon Studios is part of a wider expansion of purpose-built production infrastructure across the New York metropolitan area. Just across the river, Netflix began construction in May on a $900 million studio complex at the former Fort Monmouth site in New Jersey — a 292-acre redevelopment expected to anchor the state’s growing film production industry.
Echelon Studios Brooklyn – Project Factsheet
Project Overview
Two purpose-built film production complexes in Brooklyn (Bushwick and Red Hook)
Combined 600,000 square feet of production facilities
Developers: Bungalow Projects and Bain Capital Real Estate
Total financing: $304 million
Expected completion: Mid-2027
Projected job creation: 2,400 (construction and operations)
Financing Structure
$156 million C-PACE loan from CounterpointeSRE (largest in NY State; first for new construction in NYC)
$147 million from Farallon Capital Management affiliate
Bushwick Site (242 Seigel Street)
Six soundstages: 102,000 sq ft
Production support: 86,000 sq ft
Office space: 76,000 sq ft
Parking: 230+ vehicles (underground)
Red Hook Site (176 Dikeman Street)
Four soundstages: 67,000 sq ft
Production support: 75,000 sq ft
Office space: 49,000 sq ft
Parking: 185 vehicles
Technical Specifications
40-foot clear heights with column-free layouts
Advanced electrical, HVAC, and acoustic systems
Designed for large-scale episodic and film production
Sustainability Features
All-electric buildings
Rooftop solar arrays (25%+ energy generation)
LEED Gold certification target
NYC Ultra-Low Energy Building program compliance
Part of NYS Brownfield Cleanup Program
Incentives and Support
NY State Film Tax Credit: $800 million annually through 2036
NYC Industrial Development Agency backing
Market Context
Addresses shortage of purpose-built soundstages in NYC
Strengthens New York’s competitive position for film and TV production
