Trifecta Equities pays $4.5M for 24-unit dev site in Gowanus

Trifecta Equities through the entity 590 Union LLC paid $4.5 million to Luigi Arloro through the entity Arloro, Isabella for the industrial building (G2) at 590 Union Street in Gowanus, Brooklyn. The expected use is ground up development.
The deal closed on December 16, 2025 and was recorded on December 30, 2025. The property has 1,127 square feet of built space and 17,393 square feet of additional air rights for a total buildable of 18,504 square feet according to a PincusCo analysis of city data. The sale price per built square foot is $3,992 and the price per buildable square foot is $243 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 signatory for Luigi Arloro was Luigi Arloro and Isabella Arloro. The signatory for Trifecta Equities was Paulius Skema . The contract date was December 27, 2024.

Prior sales, articles and revenue

Prior to this transaction, PincusCo has no record that the buyer Trifecta Equities had purchased any other properties and has no record it sold any properties over the past 24 months.
The seller Luigi Arloro had not purchased any other properties and had not sold any properties over the same time period. The 1,127-square-foot property generated revenue of $27,104 or $24 per square foot, according to the most recent income and expense figures.

The property

The industrial building in Gowanus has 1,127 square feet of built space and 17,393 square feet of additional air rights for a total buildable of 18,504 square feet according to a PincusCo analysis of city data. The parcel has frontage of 38 feet and is 95 feet deep with a total lot size of 4,626 square feet. The zoning is M1-4/R7A which allows for up to 2 times floor area ratio (FAR) for manufacturing and up to 4 times FAR for residential with inclusionary housing. The city-designated market value for the property in 2022 is $252,000.

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 received $250 in OATH penalties in the last year.

Development

On the lot, there is one active new building construction project, B01209356, for a 24-unit, 16,372 square-foot residential (R-2) building. The project was submitted by Trifecta Equities and filed by Paul Skema with plans filed April 28, 2025 and it has not been permitted yet.

The neighborhood

In Gowanus, The bulk, or 46 percent of the 9.2 million square feet of commercial built space are industrial buildings, with elevator buildings next occupying 19 percent of the space. In sales, Gowanus has 2.4 times the average sales volume among other neighborhoods with $712.3 million in sales volume in the last two years and is the 9th highest in Brooklyn. For development, Gowanus has near average amount of major developments among other neighborhoods and is the 12th highest in Brooklyn. It had 1.6 million square feet of commercial and multi-family construction under development in the last two years, which represents 17 percent of the neighborhood’s built space. There was one pre-foreclosure suit filed among other industrial buildings in the past 12 months.

The block

On this tax block, PincusCo has identified the owners of four of the 25 commercial properties representing 64,600 square feet of the 180,633 square feet. The largest owner is Rj Hospitality, followed by Devorah Lefkowitz and then Joint Ownership Entity New York City.
On the tax block, there were five new building construction projects totaling 225,045 square feet. The largest is a 168-unit, 146,283 square-foot residential (R-2) building submitted by David Kabasso and filed by Dave K with plans filed March 9, 2022 and it has not been permitted yet. The second largest is a 42,320 square-foot business (B) building submitted by Eugene Khody with plans filed June 19, 2019 and it has not been permitted yet.

The majority, or 37 percent of the 180,633 square feet of built space are hotel buildings, with mixed-use buildings next occupying 23 percent of the space.

The buyer

The PincusCo database currently indicates that Trifecta Equities owned at least one commercial property with eight residential units in New York City with 8,112 square feet and a city-determined market value of $1.6 million. (Market value is typically about 50% of actual value.) The portfolio consists of at least a single walkup property. It is located in Brooklyn.

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