Avery Hall Investments is doubling down on its Gowanus bets with another major purchase.
The firm struck up an unusual partnership with Tavros Holdings and Charney Development & Construction to buy 232 3rd Avenue, 532-542 Union Street and 495-499 President Street for $55 million, according to TerraCRG, which brokered the deal.
This marked the first time in about 50 years that the properties hit the market, according to TerraCRG. Property records identified the Pontone family as the longtime owners.
The companies are still finalizing some details on how the split will work, but will develop the sites separately, according to TerraCRG’s Dan Marks, who led the brokerage team along with company founder Ofer Cohen.
“These are really prime locations for the transformation of this neighborhood, assuming that the rezoning goes through,” Marks said. “And we’re thrilled to be a part of it.”
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