Development Site in the Heart of Gowanus Rezoning Area
643 Union Street
Gowanus
B14, B17, B45, B46, B49, B65, B71
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718-489-8333
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Overview
TerraCRG has been retained to exclusively represent ownership in the sale of a development site on Union Street in the heart of Gowanus, Brooklyn.
This site is uniquely sized for potential market-rate condo development and provides 37.5 feet of frontage on Union Street.
The property last changed hands over 25 years ago and is advantageously positioned within the Gowanus Rezoning area just off Fourth Avenue. The rezoning, approved by the City Council in November 2021, paves the way for the robust growth of a true mixed-use neighborhood, including more than 8,000 new units of housing, commercial and industrial uses, activation of ground floor space, and creation of public spaces. Specific to the subject property, the upzoning to R7A/M1-4 allows for the development of a total of approx. 16,388 ZFA.
Attractions
The property sits in a neighborhood that has undergone an amazing transformation in recent years. From industrial buildings converted to co-working spaces and former manufacturing buildings converted to restaurants, music venues, and art galleries, Gowanus has become an ideal location for new developments. A few of the local attractions include Pig Beach, Dinosaur Barbeque, Royal Palms Shuffleboard Club, Ample Hills, The Bell House, Brooklyn Boulders, and Whole Foods.
The neighborhood is serviced by multiple subway lines such as the F, G and R trains and several bus routes.
