The Real Deal New York

All Year Management plans mixed-use complex at contaminated Greenpoint site

Yoel Goldman's project will feature 325 apartments
By Kathryn Brenzel | July 19, 2018 04:30PM

A rendering of 22 Clay Street in Greenpoint (Credit: ODA)

Yoel Goldman‘s All Year Management plans to build a 244,000-square-foot mixed-use development on a contaminated site in Greenpoint.

A representative for the developer filed plans on Thursday for two adjacent six-story apartment buildings at 22 and 26 Clay Street. The complex will have a total of 325 units.

Goldman agreed in April to buy the two sites, along with eight others, from a group of investors led by Bo Jin Zhu and Joseph Folkman. The Real Deal reported at the time that all 10 would sell for $165 per buildable square foot. Sources said on Thursday that the total price is north of $55 million. The sale has not yet closed.

One of the buildings, at 22 Clay Street, will span 142,096 square feet. Most of the building will be residential but 6,000 square feet will be set aside for commercial use, according to documents filed with the Department of Buildings. The other building will include 102,159 square feet of residential space.

The developer is working with the state Department of Environmental Conservation to clean up the superfund site, which was formerly home to the Harte & Company plastics factory. The main factory building at 280 Franklin Street will be demolished to make way for the new project. The Brooklyn Eagle reported in 2015 that the building would be preserved but that was before the site changed hands.

Joel Friedman, of Nationwide Realty, which is working as a consultant on the project, said All Year Management looks forward to finally develop a site “that has been underutilized for far too long,” he said. Eran Chen of ODA Architecture firm is designing the project.