All Year Management nabs Gowanus portfolio for $61M

Firm scored financing for site earlier this week

New York /
Jul.July 27, 2018 01:50 PM

Aerial and close-up views of 327 Bond Street in Brooklyn (Credit: Google Maps)

Yoel Goldman‘s All Year Management has scooped up yet another portfolio in Gowanus, shelling out $61 million for eight parcels in the neighborhood.

The company closed on the purchase of adjacent sites bounded by Bond, Union and Carroll streets, and the canal, according to documents filed with the city’s Department of Finance. The property includes commercial and industrial buildings at 450 Union Street, 426 President Street, 319 Bond Street and 838 Carroll Street. All Year purchased the properties from the estate of the late real estate investor, Daniel Tinneny.

The Real Deal previously reported that the developer secured $46 million for the development site, but the price of the property at the time wasn’t clear.

Representatives for All Year didn’t immediately return messages seeking additional information on what’s planned for the sites.

As the city considers rezoning Gowanus, there’s been a spike of activity in the area. Domain Companies recently bought two sites nearby420 Carroll Street for $47.5 million and 545 Sackett Street for $26.5 million. In May, Two Trees closed on the second part of its $115 million Gowanus assemblage.

And last year, Goldman’s firm teamed up with Property Markets Group to buy a development site at 455-459 Smith Street for roughly $50 million. The property is one of the largest vacant sites in Gowanus. Elsewhere in the borough, All Year is planning a 325-unit mixed-use project in Greenpoint.


Related Articles

arrow_forward_ios
Steve Witkoff and Ian Schrager in front of the iconic PUBLIC hotel escalators. (PUBLIC, Getty)
EB-5 fund alleges Schrager, Witkoff siphoned money from Public Hotel
EB-5 fund alleges Schrager, Witkoff siphoned money from Public Hotel
Best Buy has closed about 20 of its big-box stores in each of the past two years (iStock)
Best Buy lays off 5,000 staffers, increases store closures
Best Buy lays off 5,000 staffers, increases store closures
Ryan Serhant and Gary Barnett on Development Slowdown in Pandemic
Coffee Talk: Extell’s Gary Barnett and Ryan Serhant
Coffee Talk: Extell’s Gary Barnett and Ryan Serhant
Cushman & Wakefield CEO Brett White
Cushman reports 10% drop in revenue in 2020
Cushman reports 10% drop in revenue in 2020
Central Queens Academy's Ashish Kapadia and United's Chris Jiashu Xu with a rendering of 88-08 Justice Avenue (Linkedin, iStock)
Charter school takes 85K sf in Queens condo building
Charter school takes 85K sf in Queens condo building
(IStock illustration by Kevin Rebong)
Smaller cities look to cash in on shift to remote work
Smaller cities look to cash in on shift to remote work
421-427 East 14th Street (Google Maps, iStock)
Stuy Town to get new 17K sf grocery store
Stuy Town to get new 17K sf grocery store
Photo illustration of Mayor Bill de Blasio as Uncle Sam (iStock, Getty/Illustration by Kevin Rebong)
NYC has $1.3B in unpaid property taxes
NYC has $1.3B in unpaid property taxes
arrow_forward_ios

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

Loading...