It was built in 1951 at Warnowwerft, Warnemünde/Rostock with a steel hull. It was launched May 26, 1951 and commissioned August 2, 1951. It was the first steel vessel built after the war at the port, and was christened Wilhelm Pieck for the first president of the German Democratic Republic. In 1990 it would participate in the first German-German sail event. The ship was given to the town of Greifswald and overhauled in Rostock, and given the new-name Greif.
The ship is used as a training ship for maritime youth education. In the GDR the ship was named from 1951 till 1990 after the first president Wilhelm Pieck.
It has participated in Hanse Sail, including Hanse Sail Rostock 2011.