Times Visits Greenpoint

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Greenpoint has a charming old-world European feel, as anyone who has visited its Polish grocery stores knows, but house prices have moved into the stratosphere in the last two years, despite new apartment developments. A look at the area in the Times real estate section yesterday started off with a slightly misleading anecdote about a couple who almost gave up but then found their dream house there – in 2011.

Prices for two and three family row houses, most clad in vinyl siding and often in need of renovation, have risen from $750,000 to $850,000 in 2012 to $1,300,000 to $2,000,000 today, according to the story. The story also described other amenities in the area, including “destination restaurants” — and the ever-popular “destination” donut maker, Peter Pan — as well parks and schools.

The coming of 5,500 new units over 22 acres at Greenpoint Landing was noted briefly in passing without additional comment. Notably, the story did not mention “Girls.”

Living in Greenpoint [NY Times]
Photo by Bridge and Tunnel Club

6 Comment

  • This, less than a week after the Times told us everyone was leaving Brooklyn.
    Make up your mind. And, no, New York Times, $1 million is NOT “affordable” housing.

  • We currently live in Greenpoint near the waterfront and its amazing what has happened here in the last 2 years.
    Franklin Street is filled with lots of cafe’s, shops, and high end restaurants. The water taxi at the end of India is great, but the G is well…. The G…

    All that being said, I think Greenpoint was greatly undervalued for many years. The view of the NYC skyline here trumps the promenade IMHO.

    From a real estate perspective, we were sitting on the sidelines the last two years while prices shot through the roof, then the decision became quite easy for us. Buy a 600SF condo for 600-650k or buy an entire house with rental income in Bed Stuy. I think this is what is happening to Brooklyn as a whole. People love the neighborhoods they are in, but have been out priced, and out priced quickly. Blink twice and prices have increase 100k.

    Now people are learning to discover and love new hoods. We fell in love with Bed Stuy and now like it better then Greenpoint, but I think that goes for a lot of people. The market is absolutely crazy but I do not see an end in sight.

  • I love Greenpoint! Definitely one of my favorite neighborhoods in the borough.
    Who knows what it’ll look like after all of the new developments on the river though, could completely change the fabric of the area.

  • Cate,
    After our reno is done in Bed Stuy we do plan on moving to the hood and are quite excited about it. My best friend lives across the street from me in Greenpoint and after 2 years of living here, he is the only one in the immediate neighborhood I speak with regularly. Bed Stuy has a much different vibe. Everyone says hello to each other and/or nods. People walking the dog in the morning talk about what a nice day it is, and i feel like it is much more of a close nit community. It is quite refreshing