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A Wave of Development in Greenpoint, Brooklyn

Real Estate Developments

Greenpoint, Brooklyn has seen a wave of residential development over the past years, which has quickly transformed the neighborhood. Formerly home to farm land and industrial factories, Greenpoint is now attracting innovative developers as they move away from Williamsburg. As levels of pollution subside and industrial activity decreases, developers are eager to construct residential buildings against Newtown Creek and the East River, with views overlooking the Manhattan skyline. Brookfield Property Partners and Park Tower Group have joined together to transform Greenpoint Landing. The 22-acres will eventually house 10 mixed-use buildings, featuring 5,500 residential units.

The first market-rate development on Greenpoint Landing is One Blue Slip, located on the Newton Creek waterfront at 37 Blue Slip.[1] The residential building was developed by Brookfield Properties, designed by Handel Architects, with interiors by Gachot Studios. The 30-story building features 359 luxury rental units, each with 9 foot ceilings and large bay windows. The space was carefully designed to provide 180-degree views of the waterfront and Manhattan skyline for over 90 percent of the units.

Gachot Studios designed the lobby and space for the building’s amenities, which include large outdoor spaces and grills, media and game rooms, co-working space, a bar, lounge, fitness center and yoga room. One Blue Slip offers studios (520 square-feet, starting at $2,6000) to three-bedrooms (1,350 square-feet, starting at $7,950). As these units have just been put on the market, the development company is offering prospective renters a free month’s rent for certain units.[2]

Greenpoint Landing will eventually have four similar developments on the project site. Construction on the second building, Two Blue Slip, has already begun. This development will offer 421 units. The third and fourth buildings will have a total of 1,240 units, 30% of which will be affordable housing.[3] As the neighborhood continues to evolve, a new school will be built to help accommodate the growing population. There are also plans for Greenpoint Landing to take 4 acres for parks and public spaces.

Future development plans for Greenpoint, Brooklyn are ambitious, particularly as Newtown Creek is still badly polluted from oil spills. The New York Times reports that over 30 million gallons of oil have polluted the water, and in 2010 the Environmental Protection Agency declared it a “Superfund site”, which means it has been heavily contaminated by hazardous waste.[4] In 2010, Exxon Mobil agreed to contribute $25 million to the cleanup, which is still ongoing.[5] However, despite the pollution, the area is transforming and developers are positive that there will be a growing market in Greenpoint.


[1] See One Blue Slip. Available at: https://oneblueslip.com. Accessed on August 15, 2018.

[2] Hughes, C.J. (Aug. 10, 2018) “Luxury Apartments Rise in Industrial Greenpoint.” The New York Times. Available at: https://www.nytimes.com/2018/08/10/realestate/luxury-apartments-rise-in-industrial-greenpoint.html?rref=collection%2Fsectioncollection%2Frealestate. Accessed on August 15, 2018.

[3] Young, M. (Aug. 15, 2018) “One Blue Slip Opens For Leasing In Brooklyn’s Greenpoint Landing.” New York YIMBY. Available at: https://newyorkyimby.com/2018/08/one-blue-slip-opens-for-leasing-in-brooklyns-greenpoint-landing.html. Accessed on August 15, 2018.

[4] Op. Cit. n2.

[5] Navarro, M. (Nov. 17, 2010) “Exxon Mobil Settles State Suit on Newtown Creek Cleanup.” The New York Times. Available at: https://www.nytimes.com/2010/11/18/nyregion/18newtown.html. Accessed on August 15, 2018.

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