305 Douglass St - Warehouse FOR SALE


Brooklyn, NY 11217- Gowanus
$18,900,000 USD
631-466-1399
305 Douglass St, Brooklyn, NY for Sale
$18,900,000 USD
Warehouse - FOR SALE
1/17
null | Request Cap Rate

Jun '26


305 Douglass St
Brooklyn, NY 11217
Gowanus


HIGHLIGHTS

  • Opportunity Zone inclusion for potential federal capital gains tax benefits.
  • Very close to Barclays Center and Atlantic Terminal
  • Heavy power in place.

OVERVIEW

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. The property occupies a highly strategic position at the intersection of two distinct urban conditions: the rapidly emerging high-density residential developments resulting from the recent Gowanus rezoning, and the established, amenity-rich fabric of Park Slope. This transitional location positions the site to serve as a key service, lifestyle, and entertainment destination for a growing residential population. The broader neighborhood is actively transforming into a vibrant mixed-use ecosystem, with increasing demand for recreation, hospitality, wellness, and community-oriented uses.  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. Credit to Tom Winter at TWA Architects for the supplement information above and the zoning analysis below. Permitted Uses The M1-4 district, in combination with the Special Gowanus Mixed Use regulations, allows for a broad and flexible range of uses, including: Hospitality and entertainment venues Restaurants, bars, and event spaces Wellness and medical facilities Retail and showroom uses Office and creative workspace Indoor sports and recreation Light manufacturing and maker spaces A defining feature of the Special District is that permitted floor area varies by use category. By strategically combining uses that qualify for higher floor area ratios, the development can maximize zoning potential. “Gowanus Mix Uses” - which include commercial, manufacturing, and select community facility uses such as libraries, cultural institutions, and community centers - allow for increased FAR. The highest FAR tier is achieved through select Community Facility Uses, including health-related facilities requiring approval under Article 28 of the New York State Public Health Law. These uses are particularly valuable from a development standpoint, as they unlock the maximum allowable density on the site. Maximum Zoning Floor Area The maximum permitted zoning floor area (ZFA) varies depending on use: Commercial / Manufacturing Uses: FAR 3.6 - 43,200 SF • Gowanus Mix Uses: FAR 4.0 - 48,000 SF • Select Community Facility Uses (e.g., Article 28): FAR 4.8 - 57,600 SF Additional zoning incentives further enhance the development potential: Arcade Bonus - An arcade along Douglass Street can generate a significant floor area bonus: • 3 SF of additional ZFA per 1 SF of arcade • A 15-foot-deep arcade yields approximately 5,400 SF of additional ZFA Beyond the numerical benefit, the arcade can function as a covered public realm extension, ideal for outdoor dining, retail spillover, and activation of the streetscape. Energy Efficiency Bonus A 5% ZFA bonus is available for buildings exceeding energy code requirements by 15%, aligning with sustainability goals and long-term operational efficiency. Total Development Potential By combining: • Select Community Facility Uses • Arcade bonus • Energy bonus the site can achieve a maximum ZFA of approximately 66,150 SF. With a cellar level exempt from zoning floor area, the total constructible floor area can reach approximately 78,150 SF Maximum Building Envelope • Base Height: 95 FT • Setback: 15 FT required above base • Maximum Building Height: 115 FT Mechanical equipment, stair bulkheads, and elevator overruns are permitted above the height limit. At this elevation, a roof terrace or rooftop venue can capture expansive views toward Downtown Brooklyn and the Manhattan skyline, creating a strong opportunity for a signature upper-level destination. Potential Use Mix - Best & Highest Use Scenario Given the zoning framework, neighborhood trajectory, and market demand, the site is ideally suited for a vertically integrated, experience-driven mixed-use building. The most compelling strategy is to create a stacked program of complementary uses that activate the building throughout the day and evening while maximizing zoning incentives. Recommended Program (Bottom to Top) Cellar Bowling / social gaming / immersive recreation. A destination-oriented use that benefits from acoustic separation and large floorplates. Ground Floor Restaurant / brewery / food hall A highly visible, street-activating use that anchors the building and engages pedestrian traffic. Second Floor Pickleball club or indoor sports facility. Capitalizes on strong demand for recreational uses in dense residential neighborhoods. Third Floor Fitness / wellness / boutique recreation. Expands the building’s health and lifestyle programming. Fourth Floor Medical office / wellness tenants. Transitional layer between recreation and clinical use. Fifth Floor Article 28 healthcare facility (approx. 10,000 SF). Unlocks maximum FAR while introducing a stable, institutional-grade tenant. Sixth Floor + Roof Restaurant / event venue with roof terrace. A signature destination space with skyline views, suitable for dining, private events, and weddings. Conceptual Positioning This program creates a “vertical social infrastructure” - a building that operates as a neighborhood hub, combining: • recreation • wellness • food and beverage • healthcare • event programming Such a mix is particularly well aligned with Gowanus, where a rapidly growing residential population is driving demand for experiential, community-oriented destinations. Conclusion 305 Douglass Street presents a rare opportunity to develop a high-density, mixed-use building in one of Brooklyn’s fastest-evolving neighborhoods. Through a strategic combination of: • Special District zoning incentives • Community facility integration • Experience-driven programming the site can support a dynamic and highly differentiated project that responds directly to the needs of the surrounding residential growth. The result is not just a building, but a destination.

FOR SALE DETAILS

PRICE

$18,900,000 USD

PRICE/SF

$1,575 USD /SF

CAP RATE

Request Cap Rate

% LEASED

-

TENANCY

Single

SALE TYPE

Investment Or Owner User

BUILDING DETAILS

PROPERTY TYPE

Industrial

PROPERTY SUBTYPE

Warehouse

ADD'L SUBTYPES

undefined, Light Distribution, undefined

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1931

UTILITIES

Lighting, Gas - Natural, Water - City, Sewer - City, Heating - Gas

CLEAR CEILING HT

31 Ft

DOCKS

-

DRIVE INS

1

PARKING SPACES

8

LAND DETAILS

LAND ACRES

0.28

LAND SF

12,197

ZONING

M1-4

APN/PARCEL ID

00413-0058

ASK ABOUT THIS PROPERTY

Justin DowerKeller Williams Realty Spectrum REC TeamMore Info
631-466-1399

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.

Justin DowerKeller Williams Realty Spectrum REC TeamMore Info
631-466-1399

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.