One of Greenpoint’s most beloved buildings is up for grabs.
This week, Commercial Observer reported that the former glass factory complex located along on Newtown Creek in the northernmost section of Greenpoint has hit the market. The nine-building assemblage at 93–99 Commercial Street sits on the block between Box Street and Manhattan Avenue.
The address was home to one of the most famous nineteenth century glass factories called 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 being purchased by Martin Kennedy in 1977. Kennedy renovated it for over four decades until he died in 2019, leaving ownership to his family.
The 48,330-square-foot lot has 100 feet of frontage along Newtown Creek. It is 484 feet deep and arranged around a 250-foot-long internal courtyard. The 104,400-square-foot complex holds 22 apartments, including a mix of free-market and rent-regulated units. It is also comprised of two ground-floor retail spaces and several loft, studio and office spaces.
Most notably, the space currently houses Glasserie, a popular Mediterranean restaurant that has operated out of the building at 95 Commercial Street since 2013.
Although the building doesn’t have a formal asking price, the expected sale price is upwards of $40 million, according to brokers at CBRE. The property is priced at $383 a square foot for the 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 section of Greenpoint has flourished recently. Brookfield Properties is constructing an 11-building development next door to the glass factory called Greenpoint Landing. The area is also home to Italian restaurant Milk & Roses, Japanese eatery Ash Box Cafe, and Greenpoint Beer & Ale Company, giving potential residents lots of inviting options right in their backyard.