« Playing the Name Game in Greenwood Heights Development Watch: 681 Driggs Avenue »

January 21, 2008

Drugstore or Supermarket on the Horizon for 3rd Avenue

daily-news-warehouse-3rd-ave-01-2008.JPG
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




Trackback Pings

TrackBack URL for this entry:
http://www.brownstoner.com/mte/mt-tb.cgi/3556

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

Post a comment

Please be patient while your comment is published. It may take a moment.

Latest Restaurant Additions