A nearly 18,000 square-foot, single-story, brick warehouse at 80 Fourth Street sold for $12.8 million, according to Cushman & Wakefield.
Cushman & Wakefield Senior Director Winfield Clifford and Senior Associate William Barrett represented the seller, sculptor Tom Otterness, in this transaction. The property was purchased by The Brooklyn Home Company. The final closing price was $12.8 million, equating to approximately $713.40 per square foot and more than $300,000 above the original asking price, according to the brokerage.
“The Gowanus neighborhood continues to attract strong interest from developers in anticipation of the neighborhood’s rezoning and the sale of 80 Fourth Street is no exception,” Clifford said.
80 Fourth Street is located in an M3-1 zoning district allowing for 35,954 square-feet of commercial development. The property provides a wet sprinkler system, two curb cuts and two rolling gates, with one offering a loading bay. There are 24 skylights providing significant light across the building. The building is currently owner occupied and will be delivered vacant. The property is in close proximity to the Carroll Street, Smith/9th Street, and Union Street subway stations and is surrounded by Citi Bike stations.