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JLL Markets Gowanus Development Site
EcoRise Development has hired JLL to market a development site containing 514 Union, 469 President St. and 473 President St, three adjacent, single-story warehouses in Brooklyn’s Gowanus neighborhood. The property is located within an M1-2 zoning district that allows for 97,910 buildable square feet of commercial development.
JLL’s Brendan Maddigan, Stephen Palmese, Winfield Clifford, Michael Mazzara, Ethan Stanton and William Barrett are marketing the site. “This investment opportunity presents a number of unique and exciting possibilities, including retail value-add, ground-up commercial development or even ground-up residential development potentially as a result of a proposed rezoning,” said Maddigan.
A large portion of the site is a part of the Brownfield Cleanup Program, which allows for the possibility of obtaining tax credits associated with site preparation, remediation, and hard development costs. The tax lots are located in an Opportunity Zone. The three warehouses are single-story commercial buildings totaling 51,155 square feet.
For comments, questions or concerns, please contact Paul Bubny
- ◦Development
- ◦Sale/Acquisition
