Brooklyn, NY Cushman & Wakefield has arranged the sale of 80 4th St., a 180’ x 107.67’ lot improved by a 17,942 s/f, single-story, brick warehouse located in the Gowanus neighborhood. The final closing price was $12.8 million, equating to $713.40 per s/f and $300,000 above the original asking price.
Cushman & Wakefield senior director Winfield Clifford and senior associate William Barrett represented the seller, famed sculptor Tom Otterness. The property was purchased by The Brooklyn Home Company.
“The Gowanus neighborhood continues to attract strong interest from developers in anticipation of the neighborhood’s rezoning and the sale of 80 4th St. is no exception,” said Clifford.
80 4th St. is located in an M3-1 zoning district allowing for 35,954 s/f of commercial development. The property provides a wet sprinkler system, two curb cuts and two rolling gates, with one offering a loading bay.
There are 24 skylights providing significant light across the building. The building is currently owner occupied and will be delivered vacant.
80 4th Street is located just a block away from the Carroll Street and Smith/9th Street subway stations and a short walk from the Union Street subway station. The property is also surrounded by numerous Citi Bike stations and is serviced by multiple bus routes.Situated between two well-established residential neighborhoods, Carroll Gardens and Park Slope, Gowanus has become the connecting fabric of the area offering a variety of retail and hospitality destinations including Whole Foods, Royal Palms Shuffleboard, Dinosaur BBQ, Freek’s Mill and the Bell House.