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Kushner and Livwrk pay a reported $70-80 million for 175-225 Third St.

Super-find! Builders drop big bucks on Gowanus-Canal-side block

The Brooklyn Paper
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Developers snapped up a block-long bunch of property beside the Gowanus Canal for a massive sum, according to a real estate news outlet.

Kushner Companies and Livwrk, which are turning the former Watchtower buildings in Dumbo into a sprawling tech campus, bought the four lots across Third Street from Whole Foods Market for $70-80 million, The Real Deal reported. The site between Third Avenue and the fetid inlet that floods with sewage during heavy rains is zoned for industrial use and Councilman Brad Lander (D–Gowanus) has emphasized that he will oppose any attempt to build residential projects in the place of neighborhood factories and warehouses.

“Let me be clear,” Lander wrote in a recent statement about the doomed Kentile Floors sign. “Those who are paying big price tags for industrial buildings in Gowanus and demolishing historic structures on the assumption that they will be able to build market-rate condo buildings like those on Fourth Avenue are making a big mistake.”

The lots currently house two one-story buildings and a Verizon parking lot. Current zoning caps what could be built there at 60 feet. Across the canal at 365 Bond St., developer Lightstone Group is plodding ahead with work on its 700-apartment luxury housing project.

Kushner Companies declined to comment through a rep.

Reach reporter Noah Hurowitz at nhurowitz@cnglocal.com or by calling (718) 260-4505. Follow him on Twitter @noahhurowitz
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Reader Feedback

K. from Arkady says:
Effluent for the affluent.
June 23, 2014, 12:57 pm
ChrisC from Park Slope says:
We've got your back Brad.
June 23, 2014, 3:53 pm
grass from down under says:
The lot doesn't have sewer connections. Will the new developer be installing septic system, or just dumping directly tot the canal.
Or perhaps, they will have a new self storage building with parking lot.
June 23, 2014, 9:17 pm
Charles from Bklyn says:
Good to hear Mr. Lander is pushing back on these developers.
June 24, 2014, 2:40 pm
Scott from Park Slope says:
If Brad's pushing back to save the artist colony in Gowanus, that's good. But if so he should make it explicit that's why he's doing it. Most people in Brooklyn have no idea how many professional artists and accomplished amateurs work in the studios and lofts in that area. Most think of the Gowanus as a derelict superfund site, and when they hear about developers who want to build highrise residential there they think, "Good! Better that than a superfund site." If they knew they had a major and vibrant artist colony in their midst that needs protection, the progressive communities that surround the canal would rally to the cause.
June 24, 2014, 10:35 pm

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