Overview

TerraCRG has been retained to exclusively represent ownership in the sale of 553 Sackett Street, a vacant, M-zoned lot in the Gowanus neighborhood of Brooklyn.

The 8,500 SF lot, situated in the proposed Gowanus rezoning area, will be delivered vacant. The property is located on Sackett Street, between Third Avenue and Nevins Street, and is zoned M1-2, allowing for a total of 17,000 buildable SF.

Gowanus is a neighborhood that is amid a dramatic transformation. What was once a heavily industrial and warehouse driven neighborhood is now full of converted industrial buildings and new residential developments. Blocks away on 3rd Street&3rd Avenue, Whole Foods opened a 52,000 SF supermarket in 2013 and is now one of the most active Whole Foods in the country. Down the block on the corner of Sackett&Nevins Streets, Zagat rated restaurant, Freeks Mill, serves up a menu drawing from local farms. The list of notable attractions continues around the corner with Dinosaur Bar-B-Que, Royal Palms Shuffleboard, and Ample Hills Creamery, all on Union Street.

For several years, the Gowanus area has been on the cusp of residential rezoning. In 2008/09, City Planning proposed a framework for mixed-use zoning. This process was stalled for two years. Now, local councilman Brad Lander, has restarted the zoning plan with the community and city planning. Among many proposed changes, a “mandatory mixed-use zone” in the current Industrial Ombudsman Area, in which this property is located, would be created while keeping the current Industrial Business Zone (IBZ) a protected “Gowanus manufacturing zone.” City Planning is currently in the formal study phase of the process.