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
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