In north Greenpoint, a few blocks from the waterfront and Box Street Park, a 14-story building with 68 homes is going up at 19 to 29 Clay Street. The developer, Investmates, has twelve completed Williamsburg and Greenpoint buildings that are all recorded condos, plus 820 Classon Avenue in Crown Heights, and every one of them was 3 to 10 units. This is by far its biggest project.
Where Things Stand
Investmates assembled the site starting with a $15.1 million purchase on June 16, 2022, and later folded in 60 Commercial Street. The new building job was filed with the Department of Buildings on September 17, 2025, the general construction permit was issued on June 5, 2026, and a city inspection on August 5, 2026 found work at the 9th floor, so the building is well underway. A construction loan recorded in November 2025. No offering plan has been filed with the Attorney General yet, so nothing is for sale and there's no pricing. Based on Investmates' past projects, these are likely to be condos, but nothing is confirmed until an offering plan is filed. Join my early access list below and you'll hear when the offering plan is filed.
What We Know So Far
68 homes across 14 stories, about 156 feet tall
About 111,700 square feet of total floor area, which includes commercial space, so the average home will be well under the 1,640 square feet that simple math gives
Likely a mix that includes larger family-size layouts; the unit mix isn't public
Under construction, with work at the 9th floor as of August 2026
Buying in a New Development?
New construction works differently than a resale: offering plans, sponsor contracts, closing costs and timelines all have their own rules.
A Closer Look at the Building
Greenpoint's new development pipeline is mostly small buildings of three to seven homes, so a 14-story building with 68 homes is a different kind of project for the neighborhood. Investmates' track record is all boutique condos, which makes this a big step up in scale. With construction this far along, the offering plan could follow sooner than it does for most permit-stage projects. Amenities, finishes and outdoor space haven't been released.
Greenpoint Highlights
North Greenpoint is the quieter end of the neighborhood, close to Newtown Creek and the new waterfront parks, with Franklin Street's cafes and Manhattan Avenue's shops a short walk away.
NYC Ferry at Greenpoint, about a 7-minute walk
The G at Greenpoint Avenue, about 12 minutes
Box Street Park and Transmitter Park on the waterfront, a short walk
Franklin Street dining and Manhattan Avenue shops nearby
Katie's Take
I track every new development filing in Brooklyn, and this one stands out because at 68 homes it is several times larger than any other Greenpoint project in my tracker, where filings run three to seven homes. Greenpoint new development has been asking about $1,450 to $1,550 per square foot, and Investmates' 820 Classon Avenue sold out at about $1,180, so this developer has tended to price for value. With work already at the 9th floor, the offering plan is the next milestone and could come within the next several months.
Your next Brooklyn home may be closer than you think. Let's talk.