Ariel Arranges Sale of Gowanus Development Assemblage
Ariel Property Advisors arranged the sale of a premier development assemblage in the Gowanus neighborhood of Brooklyn for $15.75 million, or $273 per buildable square foot. Partner Sean R. Kelly, director Stephen Vorvolakos and associate director Nicole Daniggelis represented the seller. The buyer was Abraham Waldman.
The assemblage parcels are located at 418 4th Ave., 416 4th Ave., 246 7th St. and 244A 7th St. in Gowanus. The prime corner site totals 57,640 buildable square feet, including air rights, and features 140 feet of wraparound frontage along 4th Avenue and 7th Street.
“Interest in the Gowanus market remains strong as developers continue to recognize the neighborhood’s long-term growth trajectory and unique positioning within Brooklyn,” said Kelly. “This assemblage stood out because of its scale, quality, and strategic location, making it an attractive opportunity for investors seeking to capitalize on the next wave of development in the area.”
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Brokers
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Remax Real Estate Professionals
Re/Max Real Estate Professionals
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Jared Ennis
Central CA Commercial | California
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Rick Recckio
Recckio Real Estate & Development
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Greg Corbin
Northgate Real Estate Group
Lenders
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Essex Property Trust, Inc.
California
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Josh A
California
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Bob Tuteur
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Andrew Schildcrout