Greenpoint glass factory hits market

One of Greenpoint’s most beloved buildings is up for grabs.

This week, Commercial Observer reported that the old glass factory complex located along Newtown Creek in the northernmost section of Greenpoint hit the market. The assembly of nine buildings at 93-99 Commercial Street is on the block between Box Street and Manhattan Avenue.

The address housed one of the most famous glassworks of the 19th century, the Greenpoint Glass Works. It was founded around 1852 by Christian Dorflinger, an immigrant from Alsace, France. Ownership of the building changed hands several times until it was purchased by Martin Kennedy in 1977. Kennedy renovated it for over four decades until his death in 2019, leaving the property to his family.

Part of the Commercial St. Complex, courtesy of CBRE.

The 48,330 square foot lot has 100 feet of frontage along Newtown Creek. It is 120 meters deep and revolves around an interior courtyard 250 meters long. The 104,400 square foot complex contains 22 apartments, including a mix of open market and regulated rent units. It is also composed of two commercial spaces on the ground floor and several lofts, studios and offices.

Most notably, the space is currently home to Glasserie, a popular Mediterranean restaurant that has been operating in the 95 Commercial Street building since 2013.

The outside seating area of ​​the Glasserie.

Although the building does not have a formal asking price, the expected selling price is over $ 40 million, according to CBRE brokers. The property is priced at $ 383 per square foot for existing buildings, and it has an additional 28,000 square feet of unused development rights that could be used to build new residential units.

The northern part of Greenpoint has flourished recently. Brookfield Properties is constructing an 11-building development next to the glass factory called Greenpoint Landing. The area is also home to the Italian restaurant Milk & Roses, the Japanese restaurant Ash Box Cafe, and the Greenpoint Beer & Ale Company, providing potential residents with plenty of inviting options in their backyard.

About Dwayne Wakefield

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