{"id":167552,"date":"2026-03-18T19:10:48","date_gmt":"2026-03-18T19:10:48","guid":{"rendered":"https:\/\/www.newsbeep.com\/us-ny\/167552\/"},"modified":"2026-03-18T19:10:48","modified_gmt":"2026-03-18T19:10:48","slug":"two-trees-buys-development-site-in-brooklyns-gowanus-for-37m-commercial-observer","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/us-ny\/167552\/","title":{"rendered":"Two Trees Buys Development Site in Brooklyn\u2019s Gowanus for $37M \u2013 Commercial Observer"},"content":{"rendered":"

Jed Walentas\u2019 Two Trees Management<\/a> has acquired a 3-acre development site in Gowanus, Brooklyn, for $37 million, Commercial Observer has learned.<\/p>\n

Two Trees, which already owns another 5 to 10 acres in the rezoned neighborhood<\/a>, bought 69 Ninth Street from local real estate investor Aaron Berger, according to sources familiar with the deal. The sale closed Friday.<\/p>\n

SEE ALSO: Meridian Investment Sales Team on the Market With 504K-SF Best-in-Class Queens Office Fully Leased With Investment-Grade Tenants<\/a><\/p>\n

Most of Two Trees\u2019 land in Gowanus falls under the rezoning \u2014 which was passed in 2021 and affected an area of more than 80 blocks surrounding the Gowanus Canal \u2014 but the parcel acquired as part of this deal has not been rezoned, sources said.<\/p>\n

Newmark<\/a>\u2019s Daniel O\u2019Brien and Ronald Solarz brokered the deal. Two Trees also assumed an existing loan on the property that was in the process of being refinanced as part of the deal.<\/p>\n

Spokespeople for Two Trees and Newmark did not immediately respond to requests for comment, while Burger could not be reached for comment.<\/p>\n

Two Trees\u2019 newly acquired site along Ninth Street near the Gowanus Canal is currently occupied by seven buildings of various uses across 113,817 square feet, according to marketing materials<\/a> from Newmark.<\/p>\n

The stretch is 87 percent occupied with a \u201cdiverse tenancy\u201d of industrial, office and retail companies, the materials said. One major tenant in the portfolio is Tesla<\/a>, which has a dealership at 94-124 Ninth Street. Grocery delivery service Save A Lot and shipping service Fabric also take space along the stretch.<\/p>\n

Newmark said in the materials that there is an opportunity to redevelop the site with up to 252,134 square feet of commercial floor area.<\/p>\n

It\u2019s unclear what Two Trees\u2019 plans are for the site, but the deal represents one of the first investment deals for the company recently, following a stint of consistent leasing news<\/a> for the landlord at its office properties in Dumbo, Brooklyn.<\/p>\n

Isabelle Durso can be reached at idurso@commercialobserver.com<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"Jed Walentas\u2019 Two Trees Management has acquired a 3-acre development site in Gowanus, Brooklyn, for $37 million, Commercial…\n","protected":false},"author":2,"featured_media":167553,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[36],"tags":[68743,98,100,99,3624,68744,60364,68742,40257,9,24,63,68745],"class_list":["post-167552","post","type-post","status-publish","format-standard","has-post-thumbnail","category-brooklyn","tag-aaron-berger","tag-brooklyn","tag-brooklyn-headlines","tag-brooklyn-news","tag-channel","tag-daniel-obrien","tag-development-site-sale","tag-investments-sales-69-ninth-street","tag-jed-walentas","tag-new-york","tag-new-york-city","tag-nyc","tag-ronald-solarz"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/posts\/167552","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/comments?post=167552"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/posts\/167552\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/media\/167553"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/media?parent=167552"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/categories?post=167552"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/tags?post=167552"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}