Ariel Property Advisors (Ariel) announced the sale of 604 Union Street, a 41,406 buildable-square-foot, mixed-use development site in the Brooklyn’s Gowanus neighborhood for $11 million.
Ariel’s Sean R. Kelly, Partner, along with Stephen Vorvolakos, director, and Nicole Daniggelis, associate director, represented the seller, Simon Vays. The buyer was Zelig Weiss.
“The sale of 604 Union Street underscores the continued demand from investors and developers for well-located development opportunities in Gowanus,” said Sean R. Kelly, partner at Ariel Property Advisors. “The neighborhood continues to experience tremendous momentum as rezoning, new projects and significant public and private investment reshape the area.”
Over the past 12 months, Kelly’s team has closed or placed under contract 19 development site transactions totaling just under two million buildable square feet across Brooklyn and Queens.
