“We’re deeply grateful to our partners at the City, HPD and HDC as we continue to develop Greenpoint Landing and build more much-needed, high-quality, affordable housing in New York City,” Klein said.

Greenpoint Landing is a 22-acre site situated along a half-mile of East River waterfront, being master-planned and developed by Park Tower Group. In 2005, the City of New York designated the site for residential use under the Greenpoint-Williamsburg rezoning. In its entirety, Greenpoint Landing will include an estimated 5,500 residential units — including affordable housing — as well as five acres of public open space. Greenpoint Landing Associates closed on the construction financing for 35 Commercial Street in June of 2021 with HPD, HDC and Wells Fargo Community Development Corporation.

All 374 residences are income-targeted through the ELLA program, with 57 units set aside for formerly homeless applicants. The units are available to New Yorkers earning between 30 and 110 percent of the area median income (AMI). Rents for studios at the 30 percent AMI level start at just over $400 per month.

“I’m thrilled to celebrate the addition of nearly 400 new affordable homes in Greenpoint,” said Deputy Mayor for Housing, Economic Development and Workforce Maria Torres-Springer. “35 Commercial Street and the larger Greenpoint Landing development are providing thousands of environmentally-conscious opportunities for families, including formerly homeless households, to call Greenpoint home. I’m grateful for the partnerships that have driven this project forward, particularly at a time when the housing vacancy rate is so low. It’s critical to work together to create more affordable homes for New Yorkers across all neighborhoods in New York City.”

“It’s exciting to see 35 Commercial Street ready to welcome 374 households to the neighborhood at Greenpoint Landing,” said Executive Director for Housing Leila Bozorg. “This project delivers everything New Yorkers deserve as we work together to tackle our city’s housing crises: high-quality amenities, beautiful design, deep affordability, access to great neighborhood amenities, and services through a thoughtful partnership with Breaking Ground. A huge congratulations to the whole team!”

“Today, we start the latest chapter for this fantastic site and a new beginning for 374 families, amongst them 57 New York families and individuals who’ve known the struggle of homelessness and will now get the incalculable comfort and stability of a permanent home,” said HPD Commissioner Adolfo Carrión Jr. “This moment is but one more milestone in the grand vision for this transformative development. The lush tree-covered Greenpoint Landing will eventually open its doors to 5,500 families — and with that, a promise of stability and affordability for Brooklynites and all New Yorkers who get to live at this great place.”

“With construction now complete, 35 Commercial Street is providing hundreds of high-quality, affordable homes to New Yorkers while helping to advance New York City’s climate and building decarbonization goals,” said HDC President Eric Enderlin. “HDC is proud to be a part of this critical development and the broader transformation of the Greenpoint waterfront.”

“With hundreds of new permanently affordable homes — including apartments for formerly homeless New Yorkers — 35 Commercial Street is a model development,” said NYC Council Member Lincoln Restler. “Too many Greenpointers have been displaced or are severely rent-burdened. 35 Commercial Street will help more working-class families afford to call Greenpoint home.” 

“This beautiful new building is a testament to what is possible when private and public investment are aligned,” said Amie Pospisil, Chief Operating Officer of Breaking Ground. “We congratulate Park Tower Group and the many New York City agencies and partners who are bringing nearly 400 affordable units to Greenpoint. Breaking Ground is proud to provide social services here at 35 Commercial Street for people who are entering a new home from a shelter with a focus on helping families get and stay stable for the long term.”

35 Commercial Street, designed by Handel Architects, spans approximately 344,463 square feet, including 7,600 square feet of retail space. Bound by Bell Slip to the west, Commercial Street to the south and the future Box Street Park to the north, the project’s design relates to the industrial heritage of the neighborhood. This includes its dramatic brick arched threshold entryway along Commercial Street, leading to one of three private landscaped courtyards for residents designed by local Greenpoint landscape design/build firm Alive Structures.

35 Commercial is an all-electric building featuring apartments with electric appliances. The use of Variable Refrigerant Flow (VRF) technology instead of Packaged Terminal Air Conditioner (PTAC) allows for oversized windows within the units that offer sweeping views of the Manhattan skyline. Additional amenities include nearly 11,000 square feet of outdoor space, an indoor and outdoor children’s play area, a fitness center, a communal lounge, WiFi for all residents, an onsite laundry room and bicycle parking.

Eleven residential buildings, including 35 Commercial Street, have opened to date within Greenpoint Landing. This also includes 300 permanently affordable apartments completed in 2016 in a joint venture between Park Tower Group and L&M Development Partners across three development sites. Six additional buildings are all 30 percent income-targeted through the Affordable New York Housing Program, as well as a 40-story rental tower at 16 Dupont Street, developed in partnership with Rockefeller Group, anticipated to be completed in 2025.