The Gowanus Union Portfolio ($55M) Gowanus

TerraCRG was retained to exclusively represent ownership in the sale of two development assemblages in the heart of Gowanus. The properties were owned by the same family for 40 years and are advantageously positioned within the Gowanus Proposed Rezoning area. The new proposed framework, announced by city planning in early 2019, would enable the robust growth of a true mixed-use neighborhood, including housing, commercial and industrial uses as well the activation of ground floor space and creation of public spaces. The city planning framework calls for zoning change from a M1-2 district to R7A, R6A and M1-3 for the subject properties, with the two sites combined allowing for the development of a total of approx. 233,000 ZFA.