Gothamist
A non-profit newsroom, powered by WNYC.
Gothamist
Listen Live
News
Greenpoint Landing Bringing Huge High-Rise Rental Towers To Brooklyn Waterfront
By
Jen Chung
Published Oct 27, 2015
Modified Oct 27, 2015
Share
FacebookTwitterRedditEmail
Never miss a story
Email address
By submitting your information, you're agreeing to receive communications from New York Public Radio in accordance with our Terms .
Brookfield Properties
View all 4
By
Jen Chung
Published Oct 27, 2015
Modified Oct 27, 2015
Share
FacebookTwitterRedditEmail
We rely on your support to make local news available to all
Make your contribution now and help Gothamist thrive in 2026. Donate today
Gothamist is funded by sponsors and member donations
Real estate developer Brookfield Property Partners announced today that it will partner with Park Tower Group to build two high-rise rental properties along the East River in Greenpoint. One building will be 30 stories, and the other will be 40 stories.
The Park Tower Group's Greenpoint Landing project was announced over the summer—in total, it's a 10 building complex covering 22 acres with 5,500 housing units. Of the 5,500 units, 1,400 will be "affordable" housing, or 25.45% of the total number of units.
According to Brookfield, "Construction is expected to commence in the first half of 2016 with an estimated completion in 2019. The first tower is 30 stories with 365 units; the second is 40 stories with 415 units. Total project costs are estimated to be $600 million." The company's CEO Ric Clark said, "It is compelling to be part of a large development in a vibrant community that will provide housing choices for many New Yorkers."
As for the other buildings, 21 Commercial Street is expected to be completed in the summer of 2016; 5 Blue Slip is due to be finished in summer of 2017; and 33 Eagle Street as a completion date of December 2016. At 21 Commercial Street and 5 Blue Slip, the affordable housing units will be open to families earning 30 to 60 percent of the area median income [AMI]; 33 Eagle Street's affordable housing units will be for families earning 30 to 120 percent of the area median income. (The AMI for NYC in 2015 is $86,300 for a family of four.)
The lack of park space that was promised when the Greenpoint and Williamsburg waterfront was rezoned for residential development during the Bloomberg administration has been a source of great contention among local residents. Greenpoint Landing developers say the project will bring "four acres of dedicated open space; including a waterfront esplanade, public parks, a Great Lawn and a reconstructed public pier."
Tagged
brooklyn
greenpoint
greenpoint landing
real estate
Jen Chung
Jen Chung is a former WNYC and Gothamist editor.
Read more
Gothamist is funded by sponsors and member donations
Gothamist is funded by sponsors and member donations
MORE news
NY Gov. Kathy Hochul, Bruce Blakeman spar over immigration, cost of living in debate
The Democratic incumbent repeatedly invoked President Donald Trump. The Republican challenger largely avoided bringing up New York City Mayor Zohran Mamdani.
By
Jon Campbell
Published Oct 13, 2026 at 9:05 p.m. ET
Manhattan neurologist charged with sexually abusing 2 patients, DA says
Prosecutors say Dr. Tariq Lamki abused two patients during appointments at a medical practice near Stuyvesant Town.
By
Giulia Heyward
News
Manhattan neurologist charged with sexually abusing 2 patients, DA says
Prosecutors say Dr. Tariq Lamki abused two patients during appointments at a medical practice near Stuyvesant Town.
By
Giulia Heyward
Years of bus headaches start Thursday as Port Authority advances Midtown terminal work
By
Ramsey Khalifeh
and
Carol Chen
ICE admits to using Roxbury, NJ warehouse site to process immigrants
By
Mike Hayes
Dolan's offer: Donations to Blakeman for Knicks tickets
By
Walter Wuthmann
Never miss a story
Catch up on the most important headlines with a roundup of essential NYC stories, delivered to your inbox daily.
Sign upEmail address
By submitting your information, you're agreeing to receive communications from New York Public Radio in accordance with our Terms .