Rockpoint, Lincoln Property Acquire Brooklyn Community
The property was developed in 2019.
A joint venture between Rockpoint Group and Lincoln Property Co. has acquired a 45-unit luxury community in Williamsburg, a neighborhood in Brooklyn, N.Y. The property, located at 56 North 9th St., is a Class A apartment building that was built in 2019. A purchase price was not disclosed.
The 45 individual residences have hardwood oak flooring in their apartments as well as floor-to-ceiling windows for natural lighting. Shared amenities include onsite parking, a rooftop lounge, fitness center and children’s playroom. The community sits atop a fully-leased 30,000 square-foot retail space.
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The Bedford Avenue Subway station is under a half mile away from the community, which serves the L train, and the North Williamsburg Ferry terminal is within walking distance as well. Other retail, dining and grocery options are within proximity to the building.
Brooklyn’s multifamily market has performed strongly in 2025. In the first quarter, the average asking rent prices were up 0.5 percent, more than the national average of 0.1 percent, Yardi Matrix data shows. Brooklyn has more than 25,000 units under construction, higher than the neighboring boroughs; Manhattan and Queens have a 32,000 units in development planned for the future.
Rockpoint’s growing Big Apple portfolio
Within the NYC metropolitan area, Rockpoint has been investing in its portfolio to meet the demands of the greater market. Back in March, the company secured a $275 million refinancing loan from Apollo Global Management for 63-67 Wall Street. Rockpoint and Brooksville Co. purchased the two-tower, 816-unit community in 2016 and upgraded its apartments and amenity spaces.
Most recently, the company opened The Declan, a 10-story, 298-unit luxury apartment community in Weehawken, N.J., part of the Port Imperial neighborhood. Rockhill and Bozzuto are co-managing the property with Rockpoint. The property is more than 50 percent leased, Yardi Matrix shows. There are two more developments planned by Rockpoint to come to the area in the future.
