Joseph Brunner to buy Dumbo site for $59M

Three-parcel site includes Budget lot at 169 Tillary

TRD 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

Softbank CEO Masayoshi Son (Credit: Getty Images)

SoftBank’s $3B payout to WeWork’s investors is delayed

From left: The Blau and Berg Company's Karine Blanc, TD and Partners' Nana Duncan and Lemor Development Group's Kenneth Morrison (Credit: Blauberg, TD+Partners and Lemor)

Black developers say partnerships aren’t always equal

John Legere (Credit: Getty Images)

WeWork reportedly in talks to hire T-Mobile exec as CEO

85 4th Avenue in Brooklyn (Credit: Google Maps)

New details of Boerum Hill’s next big project unveiled

TF Cornerstone president Frederick Elghanayan and 595 Dean Street (Credit: CityRealty, Google Maps)

TF Cornerstone’s Prospect Heights two-tower project unveiled

(Credit: iStock)

Small Talk: Every community meeting. About every development project. Ever.

An example of roll-off waste management (Credit: YouTube, iStock)

A win for big building owners in trash-collection fight

Duke Long and Poshtel International CEO Morten Lund

“I can talk about erections all day”: NAR tech consultant’s bizarre fireside chat