Box Street Lofts at 59 Box St in Greenpoint sold all 38 units within 48 hours this week, capping off Brooklyn’s fastest summer lease-up. Brokers say this is a new record for the address as July rental demand hits a peak.

Demand for rentals in Greenpoint reached a fever pitch this July as the newly converted Box Street Lofts at 59 Box St sold out in 48 hours. Brick & Mortar, the local brokerage overseeing the property, confirmed every available unit was leased between July 8 and July 10, outpacing other new developments in the area by a mile.

Box Street Lofts features 38 apartments—mostly studios and one-bedrooms—ranging from $3,400 to $5,100 per month. According to Brick & Mortar agent Jordan Raab, traffic at open houses was “nonstop,” with at least 100 prospective renters touring the building over two days. “We haven’t seen a response like this on Box Street before,” Raab told NYC Pulse. “People want new construction, and Greenpoint is the place.”

The building, a former warehouse redeveloped by S2 Real Estate, traded hands in March and wrapped renovations just in time for the July rental spike. Greenpoint’s median rent jumped 9% year-over-year this month, as recorded by Streeteasy, driving locals and incoming tech workers to grab new inventory as soon as it hits the market. Neighboring buildings on Clay and Manhattan Avenue are seeing a similar pace, but none matched Box Street Lofts’ swift, complete sell-out this week.

Residents begin moving in by August 1, with some units awaiting delayed move-ins due to ongoing facade work. Local businesses like Ovenly and Bakeri are prepping for a summer influx, and the new tenants—many of whom are first-timers to North Brooklyn—are expected to shake up the neighborhood’s retail mix.

Frequently Asked Questions

Why did Box Street Lofts in Greenpoint sell out so quickly?

Box Street Lofts attracted intense interest due to its new construction, modern amenities, and timing during Greenpoint’s peak summer rental season. With limited inventory and rising rents, many renters rushed to secure leases. The development’s location near the G train and Transmitter Park also made it appealing.

Who brokered the Box Street Lofts lease-up?

Brick & Mortar, a Brooklyn-based brokerage, handled all showings and contracts for 59 Box St. Jordan Raab, a senior agent, led the leasing push and confirmed the entire building was fully leased by July 10, 2024.

How much do Box Street Lofts apartments cost?

Studios at Box Street Lofts started at $3,400 per month, while larger one-bedrooms and corner units reached up to $5,100. The prices are in line with new development rates in the Greenpoint and Williamsburg markets for summer 2024.

Frequently Asked Questions

Why did Box Street Lofts in Greenpoint sell out so quickly?

Box Street Lofts sold out quickly due to its new construction, modern amenities, and peak summer rental demand in Greenpoint, combined with limited inventory and rising rents.

How many units were leased at Box Street Lofts and how fast did it happen?

All 38 units at Box Street Lofts were leased within 48 hours, between July 8 and July 10, 2024.

What were the rental prices at Box Street Lofts in July 2024?

Studios started at $3,400 per month, with larger units renting for up to $5,100 per month.

Who brokered the lease-up for Box Street Lofts?

Brick & Mortar, led by agent Jordan Raab, handled all showings and contracts for 59 Box St.

What is driving rental demand in Greenpoint as of July 2024?

Greenpoint’s median rent rose 9% year-over-year, and demand is being fueled by locals and incoming tech workers seeking new inventory.

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