Domain Companies files plan for demo at industrial Gowanus site with no NB plans

Matthew Schwartz’s Domain Companies, on August 11, filed a permit application for the demolition of a 41,050-square-foot building at 545 Sackett Street in Gowanus, Brooklyn.

The property was acquired for $26.5 million on December 15, 2017. The developer in January 2020 signed a loan agreement with Laurence Gottlieb’s Fundamental Advisors valued at $32 million for the property.

The developer also purchased 420 Carroll Street, and 553 Sackett Street, in separate transactions. According to a press release from the firm in 2018, the sites represent three of the few sizable redevelopment parcels in Gowanus which had sold in recent years.

The plans call for the demolition of a two-story building.

The project is described in the filings as: full demolition of two-story structure using hand held and mechanical to demolish.

No new building plans have been filed yet, in a neighborhood which has been among the least active in terms of new development in the borough.

However, that could change if the highly anticipated plan to rezone the Gowanus neighborhood moves forward.

The Domain Companies, along with Monadnock and PMG, which own seven acres of the section of the neighborhood which could be rezoned, formed a joint venture known as Gowanus Forward which would play a significant role in what could lead to the construction of over 8,000 dwelling units by 2035, if the rezoning were to pass.

Quinlan Development Group also recently filed demolition plans in the neighborhood. That developer, as well, has not yet filed plans for any new construction at the site.

Direct link to Acris document. LINK

Direct link to DOB document. LINK