Kushner Companies, LIVWRK and SL Green Realty Corp. announced a new joint venture to acquire a 140, 000 square-foot site in Gowanus, one of Brooklyn’s most exciting and diverse neighborhoods.
The Real Deal has reported that the Development Site’s value is somewhere between $70 and $80 million.
The 3-acre site is located at 225 Third Street, between Bond Street and Third Avenue. Situated between Brooklyn’s iconic Park Slope and Carroll Gardens communities and accessible to the F, G and R lines, the property is directly across the street from the recently opened Whole Foods Market and near several of the area’s newest dining and recreational outposts.
“We were drawn to the culture, energy and fabric of the Gowanus neighborhood and its rich industrial history, ” said Jared Kushner, CEO of Kushner Companies. “With LIVWRK’s mixed-use expertise and SL Green’s long-term vision we believe this site will have great mixed-use potential over time in an exciting community.”
“We feel privileged to partner with Kushner Companies and SL Green in acquiring an exceptional site on the only two-way corridor connecting Carroll Gardens to Park Slope in a very high barrier to entry market, ” said Asher Abehsera, CEO of LIVWRK. “We look forward to working with the de Blasio Administration, Borough President Eric Adams, Councilmember Brad Lander and the entire community to build on this momentum and find a long-term use for this site that will enhance the great attributes of this vibrant, growing neighborhood.”
“We are proud to partner with Kushner Companies and LIVWRK, two innovative companies with a track record of enhancing dynamic live-work communities in Brooklyn, ” said Robert Schiffer, Managing Director at SL Green. “Gowanus is emerging as a prime retail and live-work neighborhood with an extremely exciting future.”