Closed 08/16/2019

Gowanus Residential Development Site

160 12th Street


Closed 08/16/2019 at
2100000 | $287/BSF per SF

Gross ZFA 7,316 ZFA
Base FAR 2.00
Lot Size 3,658 SF
Existing Building SF 3,600 SF
Cross Streets Third Ave / 12th St
Opportunity Zone Yes
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Development 160 12th Street, Gowanus
Dan Marks
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Zoning R6B
Building Dimensions 36.5 ft x 40 ft


TerraCRG has been retained to exclusively represent ownership in the sale of a residential development site at 158-160 12th Street in Gowanus, Brooklyn.

158-160 12th street is a 3,658 SF lot with 7,316 Gross ZFA a 2.00 Base FAR. Currently, the existing building is 3,600 SF. Located within an Opportunity Zone, the R6B site can be developed into a townhouse building or condos; condo sellouts in the area are reaching ~$1,250/SF, and rental comps are ~$60/SF.


Over the past decade, Gowanus has been undergoing a major transformation. Just around the corner from the property there are several new neighborhood amenities open or slated to open. The Collective Arts Brewery, a Canadian brand, is soon to open a huge craft brewery and events space, Gowanus Crossfit recently opened, and the Yard, a multilevel, trendy coworking space is also open for business.

The site is surrounded by renowned retail options along Third Avenue including Surfish Bistro, Table 87, Lucey’s Lounge, Four and Twenty Blackbirds, The Bell House, Halyards, Lowlands Bar, and Bar Tano. There is also a Lowes and Home Depot nearby. The site is in close proximity to Prospect Park, has great subway access being near the Fourth Avenue F, G, and R trains, as well as, being close by the BQE.

Surfish Bistro
Table 87
Lucey’s Lounge
Four and Twenty Blackbirds
The Bell House
Lowlands Bar
and Bar Tano
Home Depot
Prospect Park

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