Two Trees Management Company Acquires Industrial Asset In Gowanus, Brooklyn For $53M

The sale of a 392,073 square foot industrial property in Gowanus, Brooklyn, has been completed. The property, located at 118-136 2nd Avenue, 73 12th Street, and 1 11th Street in New York, was sold for a total price of $53,000,000. The buyer, Two Trees Management Company, was represented by Jed Walentas, while the seller, Forest City Ratner Companies, was represented by David Larue.

Summary of transaction details:

• Property Type: Industrial
• Transaction Amount: $53,000,000
• Address: 118-136 2nd Avenue, 73 12th Street, and 1 11th Street, New York
• Market: Gowanus, Brooklyn

TerraCRG, represented by Ofer Cohen, Dan Marks, and Daniel Lebor, acted as the broker for the sale. The price per square foot of the property was $135. The transaction took place on April 12, 2018.