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By Accord Real Estate Group

Gowanus Brooklyn Attracts Investors/Developers

November 21st 2013
Tags: Brooklyn Blog, Brooklyn Real Estate, Selling your home, New York Real Estate

The Gowanus neighborhood situated between Park Slope and Carroll Gardens is gradually becoming gentrified and attracting the attention of investors. Large developers have been land banking commercial properties hoping for a rezoning of the neighborhood and thus allowing mixed use and residential projects to take the place of old warehouses and loft buildings.

Two developers named Aaron Lemma and Asher Abesera formerly with Two Trees Management have purchased 68 and 80 Third Street (The former New York Vitrified Tile Co. building) off of Hoyt Street with the intention of creating boutique office space and artisanal shops.  The location of these buildings is excellent, as a connecting street between Park Slope and Carroll Gardens.

Another project underway is Lightstone Group's proposed 700 unit residential project which some experts feel will help to sped along the rezoning of the neighborhood. Lightstone was granted a huge variance to be able to move forward to build this project.

The newest wave of retailers who have decided to invest in Gowanus are Whole Foods Market, Dinosaur Barb B Que and the 40,000 square foot Royal Palms Shuffleboard Club.

Already opened in Gowanus are the popular restaurants, Little Neck Clam Shack, Fletchers Brooklyn Barbeque and the Four and Twenty Blackbirds Bakery.

Amongst the Real Estate Companies with Listings of properties for sale in Gowanus the current pricing for residential properties is as follows: One bedroom condominium apartments are priced in the $400,000 to $600,000 range, two bedroom condominium apartments are priced in the $800,000 to $1.1M range, One family townhomes are priced in the range of under $1M for a 1,800 sq ft home to $2.6M for a 2,700 sq ft townhome.

The public schools in Gowanus are P.S. 133, JHS 51 and P.S. 39 which have received good ratings. This and the interesting mix of large and small retailers in the area and coming to the area should help towards attracting young families to the neighborhood.

If you are planning to sell your commercial or residential property in Gowanus, please call our office. We will be happy to help.