New manufacturing center underway in Greenpoint

Real Estate Weekly, Jan 10, 2001

A century-old building in the heart of Greenpoint area of Brooklyn is currently being renovated for re-use as a light-manufacturing center. The historic, 80,000 SF Eberardt Faber pencil factory, located at 37 Greenpoint Ave., will house 15 light manufacturers, craft designers, and artists. The redevelopment effort is a project of the Greenpoint Manufacturing and Design Development Center (GMDC) -- a not-for-profit owner, manager, and developer of affordable space for manufacturing companies.

This five-story building has been largely unused for the last five years. GMDC acquired the building in 2000, and is investing $1.5 million to prepare it for tenants. It will offer 15 loft spaces in a full-service building with amenities not usually found in an industrial property."

"We are focused on providing space for manufacturers that are typically overlooked by other property owners," said GMDC president David Sweeney "Small, growing firms and other light manufacturing companies will find a nurturing environment at 37 Greenpoint Ave. This will go beyond providing affordable space and will include offering technical assistance and other supportive services.

The ground floor of the building will house an art gallery, reflecting the increased presence of artists in the neighborhood.

Construction on the property began earlier this month and will be finished in March 2001.

GMDC recently announced it will develop 1 million SF of industrial space in North Brooklyn and Queens within the next three years. The redevelopment of 37 Greenpoint Ave. follows the successful opening of the GMDC Industrial Center, an 80,000 SF building at 310 Humboldt St., in September 2000. The organization's flagship project is the 400,000 SF building at 1155 Manhattan Ave., known as the Greenpoint Manufacturing and Design Center.