T
he historic Polonaise Terrace site has changed hands, with Double U Development purchasing the property for nearly $9 million. This acquisition marks a significant expansion of the company's portfolio in Greenpoint and Williamsburg, following previous purchases on Lorimer Street, Wythe Avenue, and North 9th Street.

    Initially purchased by 144 Point Break LLC in 2021, plans were to transform the site into a mixed-use office and retail space within the Greenpoint Historic District. However, the proposed design was met with criticism from locals who felt it lacked character for a historic site. The Landmarks Preservation Commission approved construction plans in 2023.

    Under Double U's ownership, no clear next steps have been announced. A real estate agent involved in the deal speculated that the site may be redeveloped into condos, subject to LPC approval. This development has sparked concern among locals, given Double U's reputation as a landlord. Tenants at one of their recent acquisitions, 135 Kent Avenue, reported decreased quality of life and neglected maintenance requests after Double U took over.

    The building on Kent Avenue sits on a Brownfield site, requiring remediation efforts. However, tenants expressed skepticism about the process, feeling they were being "smoked out" to make way for luxury ground-floor tenants. Double U declined to comment on their plans for the Polonaise Terrace site.