305 Douglass St 12,000 SF Industrial Building Brooklyn, NY 11217 $18,900,000 ($1,575/SF)

The 2021 Gowanus rezoning transformed this area. 305 Douglass Street—a 12,000-square-foot lot (120 ft x 100 ft)—retained its core industrial zoning while benefiting from the district's new framework. Currently hosting a 6,556-square-foot contractors' warehouse, this property is ideally suited for redevelopment into a high-density community facility project, capitalizing on the zone's CF allowances.
Zoned M1-4 within the Special Gowanus Mixed Use District (G), this site focuses on light manufacturing, commercial, and community facility uses to preserve the neighborhood's industrial heritage. The base FAR is 2.0, but true value lies in pivoting to community facility uses which unlock the absolute highest allowable density of 6.5 FAR, translating to a potential 78,000sq' of buildable area. 
This block falls within a Qualified Opportunity Zone, potentially delivering powerful federal tax benefits: deferral of capital gains on investments held 5+ years, with full exclusion after 10 years. Ideal for long-term holds like institutional CF projects. Combine this with  potential grants from the NYC Industrial Development Agency (IDA) for manufacturing or CF builds.

Positioned in the heart of Gowanus' renaissance, 305 Douglass Street enjoys proximity to the revitalized canal, with new waterfront esplanades boosting appeal for CF tenants like healthcare providers or educational institutions. Transit access is unmatched: steps from the R train at Union Street, buses, and a quick stroll to Barclays Center, Atlantic Terminal (LIRR/subway), and neighborhoods like Boerum Hill, Park Slope, and Carroll Gardens. Surrounding developments are delivering over 8,000 new units and 650,000+ square feet of commercial space, creating demand for supportive CF spaces, while nearby anchors like Whole Foods, Brooklyn Boulders, and other cultural venues ensure steady foot traffic.
Buyers are not to rely solely on the information above or any of the collateral contained in this listing. Buyers to conduct all their own due diligence.  Caveat emptor.