Avdoo & Partners Buys Gowanus Development Site for $29M

Avdoo & Partners Development has purchased a development site in Gowanus, Brooklyn, for $29.4 million, according to city records made public Friday.

Avdoo, through the entity Union Street Owner, bought the two-story industrial building at 601 Union Street along with an adjacent vacant lot with an address on Sackett Street from S.J. Fuel Company, records show.

Avdoo CEO Shlomi Avdoo signed for the buyer, while Peter D’Arco, vice president at S.J. Fuel, signed for the seller, which used the entity 601 Union Street Realty Corporation, according to records.

It’s unclear who brokered the deal. Spokespeople for Avdoo and S.J. Fuel did not immediately respond to requests for comment.

It’s also unclear what exactly Avdoo intends to do with the 22,699-square-foot property, but it is planning a ground-up development, according to PincusCo, which first reported the news.

And Avdoo is just the latest developer to set up shop in Gowanus.

In November, Goose Property Management bought a development site at 172 Third Avenue from Elo Group for $22 million, as Commercial Observer previously reported.

And, in October, troubled developer RFR Holding got some good news when it entered into a contract to sell its empty development site at 175 Third Street to Tavros Capital and Charney Companies for more than $160 million.

It all comes after the New York City Council approved a major rezoning for Gowanus in November 2021 as part of the city’s efforts to increase affordable housing.

Under the measure, developers can rezone several industrial properties in an 82-block swath surrounding the Gowanus Canal, leading to as many as 8,000 new homes, CO reported.

And dozens of new buildings are going up around the canal since the rezoning was passed, with the first residential high-rise to be completed after it went into effect, 420 Carroll, starting leasing over the summer.

Isabelle Durso can be reached at idurso@commercialobserver.com.