Yitzchok Katz, CEO of Goose Property Management, closed on a Gowanus development site at 172 Third Avenue for $22 million, purchasing it from Jack Elo’s Elo Organization. Katz’s LLC took the property nine months after the February contract. Financing was arranged by S3 Capital, and Venture Capital Properties brokered the deal. The site includes adjacent parcels at 265 and 273 Douglass Street, bringing the total to about 110,000 square feet. Katz is also in contract to acquire an adjacent industrial property, which would add development rights. The property is eligible for the 485x tax break under New York’s reformed program.
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