Newswire

JLL to Market Gowanus Development Site

3rd Street

JLL Capital Markets is bringing to market 169-201 3rd Street, a mixed-use development site in the Gowanus area in Brooklyn. Located between Whole Foods Market and the Powerhouse Arts building, the 3.2-plus-acre site is within the Gowanus Rezoning District and in a Qualified Opportunity Zone.

The team consists of Chairman Bob Knakal, Vice Chairmen Stephen Palmese and Brendan Maddigan, and Managing Directors Jonathan Hageman, Winfield Clifford, Michael Mazzarra and Ethan Stanton.

“With the rezoning process now underway, Gowanus is on the cusp of a transformation that will bring thousands of new apartments, plus offices, retail, community space and parkland, to the area – and this site is at the heart of it all,” Knakal said.

The rezoning, currently in the environmental review process ahead of the full Uniform Land Use Review Process, includes enhanced zoning, allowing for multiple uses and increased floor-area ratios.

“The Gowanus Canal corridor is one of the most exciting development areas in the city right now and the site at 169-201 3rd Street presents an extraordinary opportunity for a large-scale, mixed-use development that will be among the very first to rise in the new Gowanus,” said Palmese. “169-201 3rd Street is located within a Qualified Opportunity Zone, which also presents preferential tax treatment under the Tax Cuts and Jobs Act.”

 

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