In June 2017, an LLC tied to Investments acquired a small, 25-foot lot at 205 Freeman Street in Greenpoint for $2.339 million. Later that year, plans were filed to build a four-story, 4-unit residential building designed by the International Office of Architects headed by Murat Mutlu. Now construction has started, and the first rendering has emerged depicting a contemporary, sculpted design with rows of full-height windows and an angling roof line. There will be one unit per floor culminating with a penthouse duplex. The project site is located near the approach to the Pulaski Bridge between McGuinness Boulevard and Manhattan Avenue.
Given the custom-nature of the design, it appears condos in store. According to our sales data there are only six studio condos now available in Greenpoint priced at a median of $767,000 or ($1,144 / ft²). There are 26 one-bedrooms available that run a median of $1.16M or ($1,486 / ft²). To help satiate a growing demand for condos in the neighborhood, new developments such as The Greenpoint, 170 West Street and 62 Box Street have unloaded dozens of new apartments on the market. Other Greenpoint projects being undertaken by Investmates include 78 Freeman Street and 155 Green Street.
Given the custom-nature of the design, it appears condos in store. According to our sales data there are only six studio condos now available in Greenpoint priced at a median of $767,000 or ($1,144 / ft²). There are 26 one-bedrooms available that run a median of $1.16M or ($1,486 / ft²). To help satiate a growing demand for condos in the neighborhood, new developments such as The Greenpoint, 170 West Street and 62 Box Street have unloaded dozens of new apartments on the market. Other Greenpoint projects being undertaken by Investmates include 78 Freeman Street and 155 Green Street.
Ongoing construction work as of early May 2018 (CityRealty)
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Closing prices in Greenpoint condos have skyrocketed in recent years (CityRealty)
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