Greenpoint Manufacturing Design Center

  • Greenpoint Manufacturing Design Center
  • Greenpoint Manufacturing Design Center interior
  • Greenpoint Manufacturing Design Center
  • Greenpoint Manufacturing Design Center
Last Updated September 12, 2016

With the help of NYCEDC and NYCIDA, GMDC opened their sixth building in 2009, a 72,000 square foot industrial building in Brooklyn. 

Overview

The Greenpoint Manufacturing and Design Center (GMDC) is a not-for-profit real estate development organization dedicated to the preservation and creation of permanent affordable manufacturing space for small and medium-sized industrial firms. GMDC purchases and redevelops industrial properties into multi-tenant manufacturing centers that provide flexible and affordable space.

Details

NYCEDC recently partnered with GMDC for their sixth rehabilitation project, an $11 million, 72,000-square-foot redevelopment at 221 McKibbin Street in Brooklyn.

NYCEDC facilitated a city capital investment of $4 million through a funding agreement, helped secure additional funding with New Market and Historic Tax Credits and issued a partial waiver of the City’s real estate tax through the NYCIDA.

In its new facility, GMDC offers below-market leases to approximately 20 small industrial businesses, which is estimated to employ 80-100 people.

News & Updates

Project Highlights

Borough: Brooklyn
$4 million New York City Capital Investment
$1.7 million in Historic Rehabilitation Tax Credits
$2.8 million in New Market Tax Credits
Estimated 80-100 jobs kept in NYC

Project Tags

HistoricManufacturing

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