Updated Sep 11, 2026
Quinlan Development Group Acquires Development Site In Gowanus From The Rattner Family For $24M
374 4th Avenue
$24,000,000
Building Size
—
Asset Type
Development Site
Closing
Oct 6, 2022
About this deal
AI
The development site located at 374 4th Ave in Gowanus has been sold in a recent transaction. The property, a former Taxi Garage, is set to be developed into a Class-A mixed-use project. The sale price for the site was $24,000,000, and the building size is expected to be 170,000 square feet.
Summary of transaction details:
- Property Type: Development Site
- Transaction Amount: $24,000,000
- Address: 374 4th Ave
- Market: Gowanus
The buyer of the property is Quinlan Development Group, while the seller is The Rattner Family. The deal was facilitated by brokers Ceasar Salama and Isaac Shabot from KSR. KSR played a crucial role in arranging the joint venture between the longtime landowners, the Rattner Family, and the well-reputed 2nd generation developer, Quinlan Development Group.
KSR has been highly active in arranging development projects throughout Brooklyn and invites interested parties to reach out for similar opportunities.
On the Map
$24,000,000
Development Site
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Players
Brooklyn Development Site Market Snapshot
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.66%
Cash-on-Cash
-0.19%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93