REAL ESTATE

A 100% affordable rental opens in Greenpoint

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Photos courtesy of Lester Ali

A fully affordable apartment building officially opened in Greenpoint this week, bringing income-restricted homes to one of Brooklyn’s most expensive neighborhoods. City officials on Wednesday cut the ribbon at 35 Commercial Street, a 22-story tower with 374 affordable apartments, including 57 units for formerly homeless New Yorkers. The building is the 11th completed building in Greenpoint Landing, a 22-acre development with 5,500 new homes and five acres of public open space.

Developed by Park Tower Group, 35 Commercial Street measures over 344,000 square feet, including 7,600 square feet of retail space.

All 374 apartments are income-targeted through the city’s Extremely Low and Low-Income Affordability (ELLA) program. Units set aside for formerly homeless individuals include assistance with furnishing homes. Plus, the nonprofit Breaking Ground will provide ongoing social services.

A housing lottery opened last June for the income-restricted homes. New Yorkers earning 30, 50, 80, and 110 percent of the area median income, or between $17,006 annually for a single person and $158,510 for a household of five, were invited to apply for the apartments. Apartment prices start at $410/month for studios and go up to $2,572/month for two bedrooms.

“I’m thrilled to celebrate the addition of nearly 400 new affordable homes in Greenpoint,” Deputy Mayor for Housing, Economic Development and Workforce Maria Torres-Springer said. “35 Commercial Street, and the larger Greenpoint Landing development, are providing thousands of environmentally-conscious opportunities for families, including formerly homeless households, to call Greenpoint home.”

Designed by Handel Architects, the brick tower pays homage to the neighborhood’s industrial heritage. A dramatic archway entrance situated on Commercial Street leads into one of three landscaped courtyards designed by Greenpoint-based design firm Alive Structures.

The building is all-electric. Apartments feature energy-efficient Variable Refrigerant Flow technology rather than Packaged Terminal Air Conditioners, allowing for oversized windows with expansive views of the Manhattan skyline.

Residents will have access to 11,000 square feet of outdoor space, an indoor and outdoor children’s play area, a fitness center, a communal lounge, an on-site laundry room, bicycle parking, and WiFi.

Greenpoint Landing is a result of the Greenpoint-Williamsburg rezoning, approved in 2005. Greenpoint Landing Associates, an affiliate of Park Tower Group, secured construction financing for 35 Commercial Street in 2021 with the city’s Housing Development Corporation, Department of Housing Preservation and Development, and the Wells Fargo Community Development Corporation.

With today’s ribbon cutting, 11 residential buildings have opened in Greenpoint Landing. The first building, One Blue Slip, opened in August 2018, followed by Two Blue Slip in 2020. Others include The Bellslip and Eagle & West, the latter of which was designed by OMA.

In May 2022, construction began on 16 Dupont Street, a 40-story rental tower with 380 total apartments, 30 percent of which will be affordable. Developed in partnership with the Rockefeller Group, the building is slated for completion in 2025.

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