Nate Kensinger nails it.
[During the Bloomberg era], many historic structures were demolished along the industrial waterfront to make way for developers. Neighborhood icons vanished, like the smokestacks of the Long Island City Powerhouse, erased from the skyline in 2005 by luxury condominiums. In Brooklyn, the rapid pace of development claimed so many historic structures that by 2007, the National Trust for Historic Preservation placed Brooklyn’s entire industrial waterfront at the top of their list of “America’s 11 Most Endangered Places,” stating “historic dockyards and factories are being demolished by developers anxious to cash in on the area’s newly hip status.” Some of the industrial structures lost included the Greenpoint Terminal Market – a potential landmark which was burned to the ground in 2006; the Todd Shipyard – a working shipyard demolished in 2006 by Ikea; the Revere Sugar Refinery – a neighborhood icon which guided ships into the Eerie Basin until being demolished in 2007, and the Kent Avenue Powerhouse – a grand structure completely demolished by 2009. Many of the industrial buildings destroyed throughout the decade were functional, stable, useful structures that could have been redeveloped and given a second life.