First Development Planned West of Canal, Within Walking Distance of Whole Foods
Compiled by Linda Collins
GOWANUS — The Hudson Companies, developer of the 33-story J Condos in DUMBO, has closed on a Gowanus property where the firm plans to build townhouses.
The property, at 111 3rd St., sold for $7.775 million, according to Ken Freeman of Massey Knakal Realty Services, who represented the seller and was the sole broker in the transaction. The original asking price was $7.995 million.
It will be the first new development planned west of the Gowanus Canal.
The rare, as-of-right residential development site is on the northwest corner of 3rd and Bond streets where the zoning is R6. It is within walking distance — across the 3rd Street bridge — from the Whole Foods market coming soon to 3rd Street and 3rd Avenue.
David Kramer, a principal with Hudson, told the Brooklyn Eagle yesterday that the firm Rogers Marvel Architects has been hired and plans call for about 50 condominium units in nine or 10 four-to-five-story townhouse-style buildings.
“We are very excited about this project,” said Kramer. “It shows our ability to build both residential towers and townhouses.”
The 180-foot-wide irregular development site allows for approximately 46,728 square feet of buildable footage, according to Freeman, for a sale price breakdown of $166.39 per buildable square foot.
Townhouses will blend more contextually with the neighborhood than a high-rise tower, said Kramer, who added that Hudson has two current townhouse development projects underway in Rockaway, Queens — one affordable and one market-rate.
Demolition of the existing buildings at 3rd and Bond is set to begin in about 45 days, according to Kramer, who anticipates that construction will begin in time to not “miss the amended 421-a tax exemption deadline,” which is Dec. 31.
According to Freeman, the seller will be relocating his electrical contracting company to an industrial zone in Red Hook.
© Brooklyn Daily Eagle 2007
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