VERTEX is serving as the lender’s representative for the construction project on 16 Dupont Street in Brooklyn, New York.
16 Dupont Street is part of the master planned Greenpoint Landing Development. Currently under construction, 16 Dupont Street will be Greenpoint’s newest luxury mixed-use residential tower. Located across from the newly finished Newton Barge Park, the project includes access to a network of open waterfront spaces. 16 Dupont Street will be developed into a 381-unit, 326,000 SF, 40-story tower, including 115 affordable housing units. It will offer a mix of units from studio to three-bedrooms. The tower will have certain ground-floor retail space as well as enclosed parking. The façade will be composed of floor-to-ceiling glass and metal paneling to allow permanently unobstructed views of the Manhattan and Brooklyn skylines for units facing to the north and west. 16 Dupont Street is slated to be completed in the first quarter of 2025.
VERTEX performs our standard lender’s representative services including pay application review, hard and soft cost review, and monthly site observations. VERTEX is able to provide prompt pay application review and recommend funding by participating in monthly onsite pencil requisition meetings and site observations which allows to mitigate risk and leads to a more efficient funding process throughout the life-cycle of the project.
This project was originally awarded to Fulcrum which is now part of The Vertex Companies, LLC.