In 2005, Greenpoint, Brooklyn, had a landmark rezoning. Previously a mixed industrial area with quiet, low-rise residential, the new laws allowed for massive residential development on the underutilized land abutting the East River. Since then, the neighborhood has turned into one of the fastest-growing areas of New York City.

Capricorn has been closely involved in that evolution, advising developers, landlords, retailers, and investors as the neighborhood’s retail landscape has taken shape.

Capricorn’s area work began with Greenpoint Landing, where the firm was appointed exclusive retail agency for Brookfield Properties nearly a decade ago. As new residential towers and mixed-use developments have reshaped the waterfront and surrounding neighborhood, Capricorn has continued to work across the area, helping bring retail to projects that previously had little or no established retail presence.

Today, Capricorn continues to represent Brookfield Properties across multiple retail opportunities. Besides Greenpoint Landing, Capricorn also handles leasing at The Riverie at 18 India Street, formerly known as 1 Java Street, with approximately 12,600 SF of ground-floor retail. The two-tower residential development occupies a full city block along the East River waterfront. Notably, Capricorn arranged a rare new Italian restaurant from the teams behind Celestine and Grand Army.

Nearby, The Huron is another Capricorn success story. Capricorn was brought in by the tower’s original developer, Quadrum Global, who utilized our team to help sell the retail unit to a new developer. The new owner then brought Capricorn back in to lease it. New York Business wrote an article about Capricorn’s leasing efforts in securing tenants there.

Capricorn’s success in the market has led to multiple other big developers bringing the firm in to represent their retail. At 78 Commercial Street, the developer tapped Capricorn to pre-lease a 28,000 SF build-to-suit opportunity spanning three floors. At 50 Commercial Street, a gorgeous recently completed mixed-use building, Capricorn represents the ground floor commercial unit.

Beyond the large developers, Capricorn has also represented multiple tenants in the area. The largest of these was the 22,000 SF Padel Haus Greenpoint, which was a highly complex, fully ground-up build-to-suit deal. It is widely regarded as one of the best padel clubs in the entire USA. The Capricorn team also represented brands like Santa Chiara Caffè and Heart of Chelsea Veterinary Group, further expanding the mix of neighborhood-serving businesses throughout Greenpoint.

Capricorn has also handled investment sales in the neighborhood. The firm represented both buyer and seller in the sale of a large retail condominium at 29 Huron Street, demonstrating its ability to advise on retail investment opportunities alongside its agency and tenant representation work. Capricorn also represents the seller at 996 Manhattan Avenue, a highly visible corner location in the heart of Greenpoint.

The neighborhood provides a clear example of how Capricorn works in emerging markets: identifying opportunities early, establishing retail from the ground up, and advising clients across different stages of a neighborhood’s growth. As markets across the country experience new residential development, changing demographics, and evolving consumer demand, Capricorn brings the same market knowledge, relationships, and hands-on experience to help shape retail landscapes in emerging retail districts nationwide.