All Year Management nabs Gowanus portfolio for $61M

Firm scored financing for site earlier this week

TRD 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
Clockwise from left: 532-542 Union Street and 232 Third Avenue in Gowanus, Tavros' Colin Rankowitz and Avery Hall's Brian Ezra (Credit: Terra CRG, Tavros, Avery Hall)

Gowanus gold rush: Avery Hall, Tavros, Charney buy sites for $55M

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

Big building owners prevent city from dumping container-pickup in trash-collection reform

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

Council member Vanessa Gibson (Credit: New York City Council)

Commercial landlords face new fines as City Council passes anti-harassment bill

As House begins impeachment inquiry, here’s what we know about Trump’s Ukraine-real estate ties

An aerial of 469 President Street, 473 President Street, 514 Union Street (Credit: Google Maps)

Avery Hall Investments buys Gowanus development site for $44M

Embattled Prodigy Network CEO Rodrigo Niño to step down

The Watchtower building at 25 Columbia Heights, CIM Group’s Shaul Kuba (right) and LIVWRK’s Asher Abehsera (Credit: Wikipedia, CIM Group, and LinkedIn)

JPMorgan leads $335M refi for CIM and LIVWRK’s Watchtower renovation

arrow_forward_ios