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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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About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 16-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 7-10 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

  • ◦Sale/Acquisition
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