Nicholas Lembo Acquires Commercial Property In Gowanus, Brooklyn For $52.3M

A commercial property located at 155 3 Street in Gowanus, Brooklyn has been sold in a transaction on March 9, 2022. The property is zoned as M2-1, indicating its commercial use. The buyer, Nicholas Lembo, acquired the property for a price of $52,300,000. The building has a total square footage (BSF) of 156,320, which translates to a price per square foot (PPSF) of $334. The property itself spans an area of 15,450 square feet, with a price per square foot (PPSF) of $3,385. The property's floor area ratio (FAR) is 0.34, and it falls under tax class 4. The lot size is 45,442 square feet, and it obtained an alteration permit on March 18, 2022. The lot has dimensions of 219.67 feet by 190 feet.

Summary of transation details

• Property Type: Commercial
• Transaction Amount: $52,300,000
• Market: Gowanus, Brooklyn
• Zoning: M2-1
• Buyer: Nicholas Lembo
• BSF: 156,320
• PPBSF: $334
• SF: 15,450
• PPSF: $3,385
• FAR: 0.34
• Tax Class: 4
• Lot Size: 45,442 square feet
• Permits: Alteration (03/18/2022)
• Lot Dimension: 219.67 ft x 190 ft

The transaction represents an important milestone for both the buyer, Nicholas Lembo, and the seller. The deal was facilitated by 's representative from . It showcases the ongoing investment and development activity in the Gowanus area of Brooklyn. The sale of this commercial property emphasizes the demand for strategic commercial assets in the market.