TF Cornerstone files plans for 268 units in Greenpoint, first of 1,060 units expected

TF Cornerstone submitted a new building construction project for a 268-unit, 249,181-square-foot residential (R-2) building at 15 Oak Street, on a large parcel known as 57 West Street, in Greenpoint, Brooklyn. The plan was filed with the New York City Department of Buildings on November 7, 2025 under job number B01312761. It calls for the construction of a 13-story, 119-foot-tall building. The project is described in the filing as: Erect 13-story, mixed-use building as per plans. Bruce Weil filed the plans. The architect is SLCE Architects.
The development is planned for tax lot 1 as well as tax lot 10, which does not yet exist in city property records. On the entire zoning lot including both lot 1 and the future lot 10, the project calls for 1,060 residential units.

The plans call for two retail spaces including one very large one that can accommodate 389 people estimated to be about 11,700 square feet, 32 residential apartment units on the second floor, 34 units on the third through sixth floors, 30 units on floors seven and eight, and eight apartments each on floors nine to 13.

The Elghanayan family’s TF Cornerstone paid $174.1 million to Jack Guttman‘s Pearl Realty Management for two development sites, 57 West Street and 24 Oak Street, on the Greenpoint waterfront in two separate transactions, on July 31, 2024. This site sold for $144.1 million.

Latest TF Cornerstone Stories:

• TF Cornerstone files plans for 370 resi units at former Cohen Brothers office building (October 27, 2025)

• TF Cornerstone signs contract with hospital to lease dev sites in Fort Greene, Downtown Brooklyn (August 20, 2025)

• TF Cornerstone signs $159M ground lease for Midtown East office, plans resi conversion (August 13, 2025)

• TF Cornerstone signs $230.1M refi for 318-unit rental in Meatpacking District (January 03, 2025)

• TF Cornerstone signs $204.9M refi with M&T Bank for 585-unit rental in Long Island City (December 11, 2024)

15 Oak Street

The property

The parcel has a total buildable of 614,255 square feet according to a PincusCo analysis of city data. The parcel has frontage of 200 feet and is 595 feet deep with a total lot size of 252,780 square feet. The lot is irregular. The zoning is R6 which allows for up to 2.43 times floor area ratio (FAR) for residential. The city-designated market value for the property in 2022 is $3 million.

Violations and lawsuits

According to city public data, the property has received $1,250 in ECB penalties and $1,250 in OATH penalties in the last year.

There were no lawsuits or bankruptcies filed against the property for the past 24 months.

The neighborhood

In Greenpoint, The bulk, or 29 percent of the 23.8 million square feet of commercial built space are walkup buildings, with industrial buildings next occupying 26 percent of the space. In sales, Greenpoint has near average sales volume among other neighborhoods with $940 million in sales volume in the last two years and is the 3rd highest in Brooklyn. For development, Greenpoint has near average amount of major developments among other neighborhoods and is the 5th highest in Brooklyn. It had 2.1 million square feet of commercial and multi-family construction under development in the last two years, which represents 9 percent of the neighborhood’s built space.

The block

On this tax block, PincusCo has identified the owner of the one commercial property that spans that spans 1,500 square feet on the block.The identified owner is TF Cornerstone. On the tax block, there was one new building construction project filed totaling 249,181 square feet. It is a 268-unit, 249,181 square-foot residential (R-2) building submitted by TF Cornerstone and filed by Bruce Weil with plans filed November 7, 2025 and it has not been permitted yet.

The owner

The PincusCo database currently indicates that TF Cornerstone owned at least 35 commercial properties with 11,143 residential units in New York City with 12,099,366 square feet and a city-determined market value of $3.3 billion. (Market value is typically about 50% of actual value.) Within the portfolio, the bulk, or 86 percent of the 12,099,366 square feet of built space are elevator properties, with office properties next occupying 7 percent of the space. The bulk, or 54 percent of the built space, is in Manhattan, with Queens next at 33 percent of the space.

The surrounding

Within a 400-foot radius of 12 Noble Street, PincusCo identified two commercial real estate items of interests occurred over the past 24 months. One of those two items was a loan which Halcyon Management borrowed $250 million from Wells Fargo secured by the 366,608-square-foot, 556-unit rental (D7) on None and one other property on April 9, 2024.

Direct link to the property’s ACRIS page and link to DOB NOW portal.