Gowanus is still reeling from a development boom, but another new building may soon rise in the neighborhood. A permit was recently filed for a six-story mixed-use building at 500 3rd Avenue, in Gowanus, at the corner of 3rd Avenue and 11th Street. The property is located two blocks from the F/G/R subway at 4th Avenue-9th Street, offering convenient commuting for new tenants.
Building Details
The new building will stand about 74 feet tall and encompass some 41,656 square feet in total space.
It is designed as a multi-use city, both residential and commercial:
Residential: 34,995 square feet for approximately 50 apartments (assuming they will be rentals).
Commercial: 6,661 square feet (retail or office in addition to the hot REC neighborhood).
Design and Structure
The new building will have a steel frame and a cellar. It will also include 25 accessory bike parking spaces, an increasingly spreading topic in the area when it comes to sustainable transportation. The project has been designed by Harry Hong of H2 who will oversee the building’s design and construction details.
Site and Demolition
Before construction can start, the existing three-story building on the site is set for demolition, with permits already filed. While no official completion date has been announced, the permit filing signals that construction could begin in the near future.
Neighborhood Context
Residential and commercial development activity has come to Gowanus. If anything, investor and developer interest has grown, in part because rezoning and infrastructure projects have created more opportunities for mixed-use development. Buildings like 500 3rd Avenue are contributing to the evolution of the landscape, bringing new residential and commercial spaces to a neighborhood that is known for its historic charm and industrial past.
FAQS
What stands out to you about this development in Gowanus?
An Interesting scale and mixed-use design. The six-story building, which will contain residential and commercial space, is a sign of the ongoing appetite for modern, transit-oriented development in Gowanus.
How do you think this project fits the current market in our area?
It fits in nicely, too, with what’s happening in the market right now, new rental housing near subway stations is extremely popular, especially when it's located in a changing Brooklyn neighborhood.
What impact could a project like this have on rents or buyer interest nearby?
New buildings can generate higher rental pricing in the immediate area, as well as increased interest among other buyers and renters.
What does this permit filing mean for future development in the neighborhood?
It’s a sign that development momentum persists and strengthens Gowanus as an active market for mixed-use projects, post-rezoning and infrastructure upgrades.
How does this location appeal to future buyers compared to other parts of Gowanus?
The proximity to three subway lines and the entrenched residential nature of the area make this spot particularly attractive compared with other industrial parts of the neighborhood.
Do you see any opportunities or challenges for investors with a project like this?
There are long-term rental demand and appreciation opportunities, though competition and increasing construction costs will continue to be significant challenges.
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