The Real Deal New York

All Year Management nabs Gowanus portfolio for $61M

Firm scored financing for site earlier this week
By Kathryn Brenzel | July 27, 2018 01:50PM

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.