PRESS RELEASE: Kalmon Dolgin Affiliates Arranges $7.3 Million Sale of Development Assemblage at 529 3rd Avenue in Gowanus Neighborhood of Brooklyn

BROOKLYN, NY – Kalmon Dolgin Affiliates, Inc. (KDA) has arranged the sale of six interconnecting buildings totaling 60,622 square feet at 529 3rd Avenue in the Gowanus neighborhood of Brooklyn, NY, for $7.25 million. Kalmon Dolgin and Neil Dolgin, co-presidents of Kalmon Dolgin Affiliates, made the announcement.

Robert Klein of Kalmon Dolgin Affiliates represented both the buyer, 304 LLC, and the seller, a local investor, in the transaction.

The property at 529 3rd Avenue offers 150 feet of frontage on its 3rd Avenue side and 200 feet of frontage on its 13th Street side. The buyer is planning to redevelop the space into more than 60,000 square feet of combined office and retail space, with additional buildable square-footage for community use.

“The sale and redevelopment of 529 3rd Avenue was largely successful for both the buyer and the seller,” said Robert Klein of KDA. “The anticipated plans for retail and office space will complement the fast growing residential community springing up in the Gowanus area of Brooklyn. Once renovated, the property 529 3rd Avenue is sure to attract top-quality tenants, who will benefit from its central location and excellent frontage.”

The column free warehouse offers 20 foot ceilings, interior and drive-in loading docks, gas heat, and elevators, and is fully sprinklered. Zoned M1-2, the property can be broken up into parcels of 4,995 SF, 5,000 SF, 9,742 SF, 16,045 SF, and 24,840 SF (over three stories).

Located on 3rd Avenue between 12th and 13th Streets, 529 3rd Avenue offers convenient access to other Brooklyn neighborhoods as well as Manhattan and Queens via the Brooklyn Queens Expressway, Prospect Expressway, and F, G, and R subway lines. 

TAGS: Investment