The historic Polonaise Terrace site has new ownership.
Double U Development recently purchased the property for nearly $9 million. The real estate developer has expanded its Greenpoint and Williamsburg portfolio over the past few years, scooping up properties on Lorimer Street, Wythe Avenue, and North 9th Street.
144 Point Break LLC initially purchased the property in 2021, with plans to turn it into a mixed-use office and retail space. The site, located in the Greenpoint Historic District, needs oversight from the city’s Landmarks Preservation Commission for further development. The LPC approved construction plans in 2023, to the dismay of some locals who felt like the proposed design was too generic and plain for a historic site.
No word yet on the next steps under Double U’s ownership, though a real estate agent involved with the deal speculated to Greenpointers that the site would turn into condos. Updated plans would be subject to LPC approval.
Double U’s record as a landlord has sparked concern from some locals. After the developer recently purchased a mixed-use loft building at 135 Kent Avenue, tenants told Greenpointers that management that the building’s quality of life decreased after Double U took over, with frequently ignored maintenance requests, overflowing garbage, and plumbing issues. These issues inspired little confidence in Double U’s plans to submit the site to a lengthy remediation process (the building sits on a Brownfield site); tenants said that they felt like they were getting “smoked out” to make way for a luxury ground floor tenant.
Double U did not respond to our request for comment.
Wasn’t there an issue of a MTA sub station there they prevented the property to be developed the way RE buyers wanted to and thus it was left an eyesore?