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EcoRise Development Sells OZ Brooklyn Warehouses

The industrial assemblage received multiple competitive bids.

Gowanus Canal in Brooklyn

BROOKLYN, NY – EcoRise Development LLC has sold three adjacent, single-story warehouses in the Gowanus neighborhood of Brooklyn to 473 President Street, LLC for $44 million. JLL represented both the buyer and seller for the properties situated in a qualified Opportunity Zone created by the 2017 Tax Cuts and Jobs Act.

“There was an incredible amount of interest and multiple competitive bids for this Gowanus asset, which ultimately sold for more than the asking price,” said Brendan Maddigan, vice chairman at JLL, in a statement.

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Mariah Brown

Mariah Brown

Mariah Brown is the New York Bureau Chief and Real Estate Reporter for GlobeSt.com, covering the New York Metro area, Northeast region and national real estate trends. She is responsible for producing multi-media content, including articles, podcasts and video. Before joining the GlobeSt team, she served as a New York Times fellow, reported for the Associated Press in New York and Philadelphia and several other New York City-based outlets.

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