Joseph Brunner to buy Dumbo site for $59M

The Real Deal

Chava Gourarie
Dec. 14, 2017

Three-parcel site includes Budget lot at 169 Tillary

Joseph Brunner and Abe Mandel’s Bruman Realty is in contract to buy several sites along Gold Street in Dumbo, The Real Deal has learned.

The three-parcel assemblage includes a 27,200-square-foot parking lot at 169 Tillary Street, currently the site of a Budget Truck Rental, which extends along Gold Street, and two more vacant parcels at 236 and 240 Gold Street.

The three parcels combined come with close to 200,000 buildable square feet. Sources familiar with the deal said the price is north of $59 million.

The seller of the larger lot, which extends along Gold Street, is Michael Zacharias, who owns several parking lots throughout the city. Previously, Zacharias had sought zoning approval to install vertical parking structures on the site, which would have allowed him to increase the number of parking spaces at the site, according to a New York Times report.

Brunner entered into contract in October, according to documents filed with the city, and the deal has yet to close. There are three vacant parcels, from 242 to 246 Gold Street, that are sandwiched between the lots under contract.

Bruman is developing a two-building rental complex in Bushwickwith 232 apartments, and a 90-unit development at 154 Eagle Street in Greenpoint.

Neither Bruman nor Zacharias was immediately available for comment.

Steven Irizarry and Justin Martinez of Nest Seekers International represented the buyers. The sellers were represented by Avison Young’s Erik Edeen, Vin Carrega, Charles Kingsley, Neil Helman, and Jon Epstein.

Steven Irizarry Steven Irizarry
Licensed Real Estate Salesperson
Justin Martinez Justin Martinez
Licensed Real Estate Salesperson— MI Team