Mar 24, 2026

Two Kings Real Estate Prepares 14-Story Rental Project in Gowanus

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Two Kings Real Estate advances 79-unit residential project
25% of units designated as affordable housing
Ground floor commercial space included

What does site progress mean for the construction timeline

Excavation is set to begin at 491 Baltic Street in Gowanus, Brooklyn, as the site transitions from a vacant lot into a new residential development. Two Kings Real Estate is leading the project, with construction expected to follow shortly after site clearing. The start of excavation signals that the project is entering its active construction phase.

What the unit mix means for rental positioning

The building will deliver 79 rental units across approximately 78,000 square feet, with 25 percent designated as affordable housing. This mix positions the project to serve both market-rate renters and income-restricted households. The inclusion of affordable units aligns with broader rezoning and development trends in Gowanus.

What design and amenities signal for tenant appeal

The building will feature a stepped design with landscaped terraces and a rooftop deck. Amenities include a fitness center, outdoor grilling areas, and a residential lobby with modern finishes. These features reflect current expectations for new rental developments in Brooklyn, particularly in rapidly evolving neighborhoods like Gowanus.

What does location means for long-term demand

The site offers strong transit access, with multiple subway lines nearby, including the R, F, and G trains, as well as major connections at Atlantic Avenue and Barclays Center. This level of connectivity supports sustained demand as Gowanus continues to attract new residential development.

What this means for Brooklyn multifamily growth

The project contributes to the ongoing transformation of Gowanus into a higher-density residential neighborhood. With a mix of market-rate and affordable units, developments like this are shaping a more balanced housing pipeline in the area.

#New York #Multifamily #Development Site #Residential

Published: Mar 24, 2026Last updated: March 24, 2026