With the rezoning of Gowanus now (slightly) more than a glimmer of light shining in the far, far distance, commercial values in the neighborhood appear to be climbing steadily. Case in point: A warehouse that takes up all of the eastern side of Third Avenue between Douglass and Degraw streets—and extends pretty far up toward Fourth Avenue—is on the market for a cool $15 million. Whoever buys the warehouse at 191 Third Avenue (which happens to be an old Daily News garage) can put up an 80,000-square-foot building in its place, according to Ken Freeman, the Massey Knakal broker who’s marketing the property. Current zoning allows for only office or hotel construction, but that could change when Gowanus is rezoned. It’ll be interesting to see whether a developer buys this one and holds onto it until the neighborhood is rezoned or if the nearby Comfort Inn, Holiday Inn Express and soon-to-open Hotel Le Bleu are going to get some competition.
Gowanus Rezoning: Complete Chaos [Brownstoner] GMAP P*Shark