Overview

TerraCRG has been retained to exclusively represent ownership in the sale of 334 Douglass Street – a 21,420 BSF development site located in the rapidly growing Gowanus neighborhood of Brooklyn.

The offering presents the opportunity for a mixed-use residential development site zoned C4-4D under the special Gowanus district (G) which has a residential equivalent of R9A. The site footprint of 42ft x 60ft is currently improved by a vacant single-story 2,520 SF warehouse built full to the lot. The zoning allows up to 8.50 FAR – with full lot coverage being within 100ft of the corner.

The site is located between 3rd Avenue and 4th Avenue, surrounded by several sizeable development projects that are in the pipeline, under construction, and recently completed. 334 Douglass Street is just a short walk from the R train at the Union Street/4th Avenue subway stop. The 2, 3, 4, 5, B, D, N, Q, R, W, and LIRR trains are about a half mile from the property at Atlantic Terminal.

Due in large part to the area-wide rezoning in 2021, Gowanus has seen a redevelopment revolution and has been transformed from an industrial neighborhood to one of New York City’s most desirable hubs for residential, office, retail, and the arts with market rate residential rents for large new construction amenitized projects surpassing $90psf average.