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153 9th Street

Abe Waldman Acquires Development Site In Gowanus Brooklyn For $5,500,000 Represented By Avison Young
SOLDDevelopment Site

Abe Waldman Acquires Development Site In Gowanus Brooklyn For $5,500,000 Represented By Avison Young

153 9th Street

$5,500,000

$227/SF

Building Size

24,229 SF

Asset Type

Development Site

Closing

Apr 19, 2026

AI

The development site located at 153 9th Street, Gowanus, Brooklyn, has been sold for $5,500,000. The site has a zoning floor area of 19,800 square feet, resulting in a price per zoning floor area of $278.

Summary of transation details:

  • Property Type: Development Site
  • Transaction Amount: $5,500,000
  • Buyer: Abe Waldman
  • Seller: Richard Gatto
  • Brokers: Patrick Madigan, Frederick (Fritz) Richter, Joseph Moran, Miles Davis-Bosch - Avison Young
  • Date of Transaction: 4/20/2026

Patrick Madigan, Frederick (Fritz) Richter, Joseph Moran, and Miles Davis-Bosch represented the buyer, Abe Waldman, in this transaction. The deal showcases the involvement of multiple brokers from Avison Young, highlighting a collaborative effort in the real estate market.

Players

Frederick Richter

Avison Young

Broker

$506.5M

vol

34 deals

Broker
Richard Gatto

Richard Gatto

Seller

$999.8M

vol

43 deals

Seller

Brooklyn Development Site Market Snapshot

Boundary boundary · Development Site · Sale transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

2.88%

Cash-on-Cash

-0.82%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93