Tankhouse Acquires Development Site In Gowanus For $40.65M

A development site located at 450 Union St. in Gowanus has been sold for a transaction price of $40,650,000. The property spans a total square footage of 28,500 and has a buildable square footage of 142,500. The price per buildable square foot is calculated to be $285. The buyer of the property is Tankhouse, represented by Sam Alison-Mayne. The seller of the property is Pilot Real Estate Group, represented by Eric Schwartz. The brokers involved in the deal are Sean R. Kelly, Esq. and Stephen Vorvolakos from Ariel Property Advisors.

Summary of transation details

• Property Type: Development Site
• Transaction Amount: $40,650,000
• Address: 450 Union St.
• Market: Gowanus
• Buyer: Tankhouse - Sam Alison-Mayne
• Seller: Pilot Real Estate Group - Eric Schwartz
• Brokers: Sean R. Kelly, Esq. & Stephen Vorvolakos - Ariel Property Advisors
• Buildable Square Footage: 142,500
• Price per Buildable Square Foot: $285
• Total Square Footage: 28,500

Sean R. Kelly, Esq. and Stephen Vorvolakos, from Ariel Property Advisors, played a crucial role as brokers in this transaction, facilitating the deal between Tankhouse and Pilot Real Estate Group. They successfully represented their respective clients in the negotiation and finalization of the sale.