Earlier this year, the city paid $53 million to acquire the property at 1 North 12th Street, located between North 12th and 14th streets along Kent Avenue on the border of Greenpoint and Williamsburg, with plans to convert the site into public park space. The city has now agreed to pay $160 million for the 11-acre CitiStorage site, located between North 10th and 12th streets at 5 North 11th Street, Crain’s reported.
That means the entire vision of Bushwick Inlet Park will be realized. A construction timeline hasn’t been disclosed, but the CitiStorage warehouses will eventually be demolished, in addition to the storage tanks and warehouses on the site to the north. Part of Bushwick Inlet Park, between North 9th and 10th streets, has already been built.
It’s worth noting that the Greenpoint Monitor Museum has plans to build the USS Monitor Park, to be located along Bushwick Inlet’s northern shore. In addition, East River State Park is located between North 7th and 9th streets.