An insurance lawsuit reveals substantial flood damage, and the gap in leasing suggests Wolkoff had a strong reason to keep some units empty. Residents complain of shoddy construction, unusable amenities and vacant commercial space two years after work on the project wrapped. Talk to David Wolkoff, who has helmed the family firm G&M Realty since his father Jerry Wolkoff died in 2020, and he’ll stress that the project is humming along just fine: It’s mostly occupied, and the few vacancies are just undergoing minor renovations.īut a dive into 5Pointz’s history suggests that there is more to the story. “I was like, ‘Oh man, closed today?’ and they’re like, ‘No, it’s been closed for a while, we don’t really know why,’” he said. They could only share that the leasing office was closed. Staffers at the building were of no more help. “We decided to head over in person a few weeks later,” the prospective tenant recalled.
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