Greenpoint's development boom is set to get a new player. Simon Baron Development has scooped up 12 Franklin Street, between Meserole Avenue and North 15th Street, for $24 million, The Real Deal reports. What will be done with the current two-story building, home to popular neighborhood bars Northern Territory and Dirck the Norseman? "I think we're going to, in the short term, wait to see how the area develops," developer Matthew Baron told TRD. The site could hold a 55,000-square-foot office and/or retail building, or a 133,320-square-foot building if community facility space was included.
Greenpoint has been a major site of new development, with literally hundreds of new residential units coming to both converted and newly constructed buildings. That includes the conversion of nearby 79 Quay Street, which will have apartments ranging from studio to three-bedroom and five townhouses. In addition to that and nearly a dozen other developments, the fate of the former CitiStorage site is up in the air, with Related now looking at the site that had been proposed for Bushwick Inlet Park. What happens there will surely have an impact on the rest of the neighborhood.
· Anticipating development boom, Simon Baron buys $24M Greenpoint site [TRD]
· Mapping Hundreds of Greenpoint Apartments Now On the Rise [Curbed]
· All CitiStorage coverage [Curbed]