Belvedere Bridge Enterprises Acquires Gowanus Development Site for $2.1M

Belvedere Bridge Enterprises, a real estate investment firm led by Chris Rostek and Mat Rostek, has acquired a development site in Gowanus for $2.1M. The site, located at 158-160 12th Street, spans 3,658 square feet and has a buildable square footage of 7,316. The deal was brokered by Dan Marks, Peter Matheos, and Mike Rafter.

The seller, The Management Group of Brooklyn, was represented by Serabjit Singh. The sale price of 2.1M translates to a price per square foot of 574 for the site and $284 for the buildable square footage.

Gowanus is a neighborhood in Brooklyn that has seen significant development in recent years. The area is known for its industrial past and has become a popular destination for artists and young professionals. The site at 158-160 12th Street is located just a few blocks from the Gowanus Canal, which is currently undergoing a major cleanup effort.

Belvedere Bridge Enterprises has not yet announced its plans for the site, but given the area’s popularity and the site’s buildable square footage, it is likely that the firm will develop the property into a residential or mixed-use building. The acquisition is a strategic move for the firm, which has been actively acquiring properties in Brooklyn and other parts of New York City.

Overall, the acquisition of the development site at 158-160 12th Street is a sign of the continued growth and development of Gowanus. With its proximity to the canal and the area’s growing popularity, the site is likely to be a valuable asset for Belvedere Bridge Enterprises in the years to come.