Greenpoint's first skyscraper has just topped out at 21 India Street. This 39-story tower will measure 400 feet and will be the neighborhood's tallest building. This residential building will be home to 95 high-end condos and 287 rental apartments.
Judging by the influx of high-end residential developments in Brooklyn, it is safe to say that the neighborhood is still very much on the rise. Check out some of the most intriguing developments coming to Brooklyn:
Simon Dushinsky, who operates the real estate investment firm Rabsky Group,has acquired an undisclosed stake in the major real estate project located in Bushwick, a property that was once home to Rheingold Beer’s brewing operations. Dushinsky has ambitious plans for the Rheingold Brewery site: a rental building containing nearly 400 units and spanning almost 400,000 square feet.
Chinese investors pumped more than $3 billion into New York real estate last year, nearly 43 percent more than 2013. This only seems to be the tip of the iceberg as foreign investors dominate Manhattan’s condo and townhouse market – accounting for 30 to 40 percent of institutional and individual buyers. Chinese investors are particularly interesting due to their propensity for “central city/urban” real estate, the increasingly powerful yuan, and the overall slowing of Chinese economy. The combination of factors has created the perfect incentive for Chinese investors to expand their assets.
Brooklyn’s growth in popularity has been well-documented over the past few years, and over the decade or so that neighborhoods like Williamsburg have been growing, young families are starting to emerge who still appreciate the neighborhood-centric, and vaguely suburban, pace of life that’s still present in the outer borough.
Williamsburg is continuing a run of totally new constructions, particularly in condos and hotels, which may ultimately be attributed to the neighborhood’s individual branding over the past years and its consequently shifting demographics.