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Tankhouse grabs 421a-ready Gowanus development site

Tankhouse's Sam Alison-Mayne and Pilot Real Estate Group's Rob Rieger (Facades+, Steer For Student Athletes, iStock)
Tankhouse’s Sam Alison-Mayne and Pilot Real Estate Group’s Rob Rieger (Facades+, Steer For Student Athletes, iStock)
Source: The Real Deal

Brooklyn-based development firm Tankhouse has agreed to buy the development site at 452 Union Street in Gowanus from Pilot Real Estate Group. As part of the deal, Tankhouse tendered a $4 million down payment and agreed to pay another $3 million before closing. The total sale price has not been disclosed. Tankhouse co-founder Sam Alison-Mayne says the site has already qualified for the 421a tax break, a critical multifamily development incentive that expired in June.

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