Quinlan Development pays $17M to Gotham Organization for dev site in Fort Greene

Quinlan Development Group through the entity 130 St. Felix Owner, LLC paid $17 million to Gotham Organization through the entity 130 St. Felix Street LLC for the development site at 130 St Felix Street in Fort Greene, Brooklyn. The expected use is ground up development.
The deal closed on April 7, 2026 and was recorded on April 16, 2026. The property has zero square feet of built space and 125,190 square feet of additional air rights for a total buildable of 125,190 square feet according to a PincusCo analysis of city data. The sale price per buildable square foot is $135 per the PincusCo analysis. (The price per square foot analysis is the transaction price divided by square feet as reported in public records and assumes no air rights have been sold.)
The seller bought the property on June 11, 2015, for $5.5 million. The signatory for Gotham Organization was Bryan Kelly . The signatory for Quinlan Development Group was Tyler Wilkins . The contract date was November 24, 2025.

Prior sales, articles and revenue

Prior to this transaction, PincusCo has no record that the buyer Quinlan Development Group had purchased any other properties and sold one property in one transaction for a total of $7.3 million over the past 24 months.
The seller Gotham Organization purchased four properties in three transactions for a total of $202.6 million and sold four properties in three transactions for a total of $193.9 million over the same time period.

The property

The parcel has frontage of 84 feet and is 188 feet deep with a total lot size of 12,519 square feet. The lot is irregular. The zoning is C6-4 which allows for up to 10 times floor area ratio (FAR) for commercial and up to 10 times FAR for residential with inclusionary housing. The city-designated market value for the property in 2022 is $4.6 million.

Violations and lawsuits

There were no lawsuits or bankruptcies filed against the property for the past 24 months. In addition, according to city public data, the property has not received any significant violations in the last year.

Development

There are no active new building construction projects or major alteration projects with initial costs more than $1 million on this tax lot.

The neighborhood

In Fort Greene, The bulk, or 34 percent of the 12.5 million square feet of commercial built space are elevator buildings, with specialty buildings next occupying 23 percent of the space. In sales, Fort Greene has 2.5 times the average sales volume among other neighborhoods with $845.2 million in sales volume in the last two years and is the 6th highest in Brooklyn. For development, Fort Greene has had very little major development activity relative to other neighborhoods.It had 714,356 square feet of commercial and multi-family construction under development in the last two years, which represents 6 percent of the neighborhood’s built space.

The block

There are no active new building construction projects on this tax block.

The majority, or 100 percent of the 189,635 square feet of built space are specialty buildings, with industrial buildings next occupying 0 percent of the space.

The seller

The PincusCo database currently indicates that Gotham Organization owned at least 14 commercial properties with 3,172 residential units in New York City with 2,241,927 square feet and a city-determined market value of $2,7 billion. The portfolio has $1.1 billion in debt, borrowed from Wells Fargo and NYS Housing Finance Agency. Within the portfolio, the bulk, or 58 percent of the 2,241,927 square feet of built space are condo properties, with elevator properties next occupying 20 percent of the space. The bulk, or 84 percent of the built space, is in Manhattan, with Queens next at 15 percent of the space.

The buyer

The PincusCo database currently indicates that Quinlan Development Group owned at least eight commercial properties with 544 residential units in New York City with 449,173 square feet and a city-determined market value of $116.7 million. (Market value is typically about 50% of actual value.) The portfolio has $364.7 million in debt, with top three lenders as PCCP, First-Citizens Bank & Trust Company, and QuadReal Property Group respectively. Within the portfolio, the bulk, or 51 percent of the 449,173 square feet of built space are office properties, with elevator properties next occupying 37 percent of the space. The bulk, or 86 percent of the built space, is in Brooklyn, with Manhattan next at 13 percent of the space.

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