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This Gowanus Parking Lot Was Sold For a Record-Breaking Price

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anticipated residential development is driving up prices

Located right next to the Gowanus Canal, a parking lot at 431 Carroll Street sold for a record breaking price, the real estate broker behind the deal told DNAinfo. Alloy Development, known for their Dumbo Townhouses and their development at One John Street, purchased the property for $2.775 million. That's about $338 per buildable square feet, higher than a comparable property listed on the market which is going for $320 per buildable square foot, according to DNAinfo.

Alloy is planning to turn the parking lot into a three-story building with retail on the ground floor and its own offices on the upper two floors, according to Crain's. Real estate prices have started to rise in the neighborhood with the anticipation of new residential development like Lightstone's project at 365 Bond Street.