750,000 s/f factory to get wired for Internet tenants.

Carlyle Group and Chase Capital Partners are planning to convert a building designed for old commerce into a site for e-commerce.

The Scovil Factory in Brooklyn, located at 470 Vanderbilt Ave., will be completely renovated, furnished with the necessary power back-ups and equipment, and leased to web-related telecommunications companies such as include long-distance carriers, data centers, application service providers and similar enterprises. Together, these businesses will form the Atlantic Telecom Center--a network of telecom companies which will provide business to each other by sharing traffic. Carlyle has already developed several similar projects in other areas of the country, including the highly successful Lakeside Technology Center in Chicago and the Market Post Tower in San Jose.

According to Gabe L. Finke, a principal at the Carlyle Group Realty, the reason the firm is going through all that trouble is to attract a new brand of clients.

"As we redevelop more and more of these facilities, the telecom tenant base will continue to see that Carlyle understands their specific technical needs and has the financial resources to perform," he said.

These specific technical needs include a large amount of space to support the infrastructure necessary for fiber-optic, high-speed operations and high floors to provide room for power and fiber cable trays.

The 750,000 square feet building certainly has these, as well as another key advantage: its proximity to Manhattan. "We got this space for about half of what it would cost in the City," Finke boasted. "And at the same time, Manhattan is just a half an hour away. There are just no buildings like 470 Vanderbilt Ave. in the City for the same price."

At the present moment, Carlyle has already named Insignia/ESG as the property manager for the future Center and has several well-established web-hosting companies on its list as prospective tenants. According to Finke, Insignia was Carlyle's first choice because of their experience in managing high-tech properties in the past, as well as their good working relationship with Carlyle.

Gary Kamenetsky of Insignia/ESG, the leasing agent for the New York property, is enthusiastic about the project. "We believe that the Atlantic Telecom Center's attractive pricing, outstanding infrastructure and master-planned 90,000 square foot floors, coupled with Carlyle's and Insignia/ESG's experience addressing the specific needs of telecommunication tenants, will set this property apart from its competitors.