Transactions - NOVEMBER 21, 2022

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Quinlan forms development JV with GTIS for N.Y. project

by Andrea Zander

Quinlan Development Group (QDG) and GTIS Partners have formed a joint venture and acquired property at 374 4th Ave. for the development of a class-A mixed-use residential development located in the Gowanus neighborhood of Brooklyn, N.Y.

Once complete, the project will comprise 197 units and 213,000 square feet across 17 stories, with ground floor retail and parking. The building will have a wide range of attractive amenities, including a fitness center, gaming and media lounge, co-working spaces, yoga studio, golf simulator and a furnished rooftop terrace with views. The residences will be a mixture of one- and two-bedroom units, with 88 units featuring private terraces or balconies.

The project will qualify for the Affordable New York (ANY) program, which expired in June 2022, delivering a significant number of affordable rate units.

The site is located at the nexus of the Park Slope, Gowanus and Carroll Gardens neighborhoods, a few blocks from numer

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