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January 21, 2008
Drugstore or Supermarket on the Horizon for 3rd Avenue
A real estate investor just paid a pretty hefty sum for an old Gowanus warehouse but, unlike some of the other recent buyers in the area, he’s not planning to tear the building down and put up a hotel. Elo Realty closed on the purchase of the old Daily News garage on 3rd Avenue between Douglass and Degraw earlier this week for $10.5 million, and the firm intends to rent it out for retail use, according to the firm's principal, Jack Elo. “It’s big enough for a drugstore like CVS or Duane Reade,” says Elo, “or even a supermarket.” Seems to us like either of those uses would be very welcome to the folks who live in amenities-starved Gowanus and to the people who are going to move into all the new 4th Avenue developments.
Going Fishing for $15 Mil in Gowanus [Brownstoner] GMAP P*Shark
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Comments
Awesome spot for super market! I just dont see a supermarket commanding the type of rents a 10.5 Mil parcel would justify.
Posted by: guest at January 21, 2008 11:44 AM
if it is a supermarket, will it employ the people of the gowanus housing project across the street?
Posted by: guest at January 21, 2008 12:36 PM
With that high price tag, and the phantom menace of the Whole Foods a few blocks away, who would open a grocery store?
Posted by: guest at January 21, 2008 1:15 PM
I think this building is down the street from the Wykoff Gardens housing project, not across from it. Actually, I believe it sits directly across the street from the under-utilized "Double D" park - the one that Brownstoner reported last week might be turned into a skate park? Wonder how that will effect the value and potential long-term use.
Posted by: Jen KG at January 21, 2008 1:25 PM
skate stores!
Posted by: Santa at January 21, 2008 2:17 PM
If it's over 10,000 square feet, it can't be a supermarket legally under city zoning rules intended to keep people in the projects eating unhealthy food purchased at inflated prices from bodegas.
Posted by: guest at January 21, 2008 2:58 PM
please don't let it be a Duane Reade - that is the world's worst pharmacy. Can we get a Boots chemist? You know, a clean pharmacy with helpful staff and products you'd actually want to buy.
Posted by: guest at January 21, 2008 3:07 PM
Yeah, the location fits right in with the Boots image. I'll have what you're smoking, 3:07.
Posted by: guest at January 21, 2008 4:24 PM
I love this area.hands down a good investment
Posted by: guest at January 21, 2008 4:54 PM
a slightly less wise investment than setting $10.5m on fire.
Posted by: guest at January 21, 2008 7:00 PM
c'mon give us a Boots chemist over a Duane Reade. why do we have to get something shitty? I know, what about a huge Urban Outfitters.
Posted by: guest at January 21, 2008 7:23 PM
I live two blocks from there. We are not amenities-starved at all. I'd guess 90% of the neighborhood has wheels and it's 5 minutes drive to the Slope, 8 minutes drive to Fairway. By walking, 5 minutes to organic market on Court and Union, 10 mins to the coop.
Posted by: guest at January 21, 2008 10:12 PM
who's the idiot that says that the people in the housing projects have to eat unhealthy bodega food??
so they can't walk a few blocks to a grocery store like the rest of us?
i've got a HIKE to an ok grocery store and i live in prime park slope.
this is nyc. you can find cheap, healthy food anywhere if you try.
Posted by: guest at January 22, 2008 11:28 AM
What do you meen, there is a 10,000 sf.ft limit to food markets?
Whole Foods is planning a 70,000 sq.ft. building. Is WF not a supermarket by city rules?
Posted by: guest at January 22, 2008 7:06 PM

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