Joseph Brunner to buy Dumbo site for $59M

Three-parcel site includes Budget lot at 169 Tillary

New York /
Dec.December 14, 2017 03:30 PM

169 Tillary Street and 240 Gold Street (Credit: Google Maps)

UPDATED Dec. 14, 5:31 p.m.: Joseph Brunner and Abe Mandel’s Bruman Realty is in contract to buy several sites along Gold Street in Dumbo, The Real Deal has learned.

The three-parcel assemblage includes a 27,200-square-foot parking lot at 169 Tillary Street, currently the site of a Budget Truck Rental, which extends along Gold Street, and two more vacant parcels at 236 and 240 Gold Street.

The three parcels combined come with close to 200,000 buildable square feet. Sources familiar with the deal said the price is north of $59 million.

The seller of the larger lot, which extends along Gold Street, is Michael Zacharias, who owns several parking lots throughout the city. Previously, Zacharias had sought zoning approval to install vertical parking structures on the site, which would have allowed him to increase the number of parking spaces at the site, according to a New York Times report.

Brunner entered into contract in October, according to documents filed with the city, and the deal has yet to close. There are three vacant parcels, from 242 to 246 Gold Street, that are sandwiched between the lots under contract.

Bruman is developing a two-building rental complex in Bushwick with 232 apartments, and a 90-unit development at 154 Eagle Street in Greenpoint.

Neither Bruman nor Zacharias was immediately available for comment.

Steven Irizarry and Justin Martinez of Nest Seekers International represented the buyers. The sellers were represented by Avison Young’s Erik Edeen, Vin Carrega, Charles Kingsley, Neil Helman, and Jon Epstein.


Related Articles

arrow_forward_ios
The tax break allows foreign visitors to reclaim a sales tax of 20 percent on items bought in the country for more than £30 (Getty; Unsplash)

UK tax break expiration could hurt struggling retailers

UK tax break expiration could hurt struggling retailers
Istanye Park in Istanbul (Photo via Wikipedia Commons)

Turkish mall valued at $1B in deal with Qatar

Turkish mall valued at $1B in deal with Qatar
258 8th Avenue (Google, Target)

Target planning yet another NYC store in Chelsea

Target planning yet another NYC store in Chelsea
Churchill Real Estate's Justin Ehrlich and 381 Broadway (Google Maps)

Two-year Tribeca foreclosure saga continues with lawsuit over $20M

Two-year Tribeca foreclosure saga continues with lawsuit over $20M
Adam America's Omri Sachs and Dvir Cohen with 2503-2509 Broadway (Google Maps; Adam America)

Adam America secures $63M in financing for Upper West Side project

Adam America secures $63M in financing for Upper West Side project
Convene CEO Ryan Simonetti (Convene)

Convene closes Manhattan locations as corporate events fail to return

Convene closes Manhattan locations as corporate events fail to return
New York City District Council of Carpenters’s Monitor Glen McGorty (iStock; LinkedIn)

NYC carpenters union changes how it roots out mob ties

NYC carpenters union changes how it roots out mob ties
The Economic Innovation Group identified 145 real estate investments in Opportunity Zones (iStock)

Real estate deals dominate Opportunity Zones. Is that bad?

Real estate deals dominate Opportunity Zones. Is that bad?
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...