{Investment Property} Greenpoint, Brooklyn

Greenpoint borders Williamsburg and is in the same rezoning plan as Williamsburg back in 2005.  Because of the G train, Greenpoint really lags its more famous neighbor.  But development there has finally caught on.  City rezoning is usually the catalyst for area growth (think LIC).  The new ferry subsidies, which lower the ferry price to the same as that of the subway, are a major plus for riverfront Greenpoint.  Even the G train has turned a corner!  With the L train shutting down, the part necessity part ever-growing tolerance level for transportation has lifted the infamous G out of oblivion.  The arrival of a major development project Greenpoint Landing speaks to the neighborhood’s coming of age.

In terms of vibe, Greenpoint feels like early Williamsburg.  Nice boutique shops without the crowd, yet. 

Another reason investors should pay attention to Greenpoint is that the prices there are still lower than its two neighbors: Williamsburg and LIC.  Yes, Greenpoint is not as convenient subway wise, but the price differential warrants a serious look.