Brooklyn real estate developments expand in Sheepshead Bay and Gowanus

Gilbane Development has acquired a 96,000-square-foot parcel in Brooklyn’s Sheepshead Bay neighborhood for $37 million. The site, located at 2185 Coyle Street, was recently rezoned and offers approximately 408,400 square feet of potential zoning floor area. According to transaction reports, Gilbane intends to pursue affordable housing at the location. The sale was arranged by Ariel Property Advisors from a venture between AAG Management and ABS Partners.

In the Gowanus neighborhood, developers have released new images of the Anagram apartment tower currently under construction at 450 Union St. The 20-story project, a collaboration between Global Holdings, MacArthur Holdings, and Tankhouse, will feature 158 rental units alongside commercial and community spaces totaling 22,000 square feet. The development will include a public waterfront esplanade along the Gowanus Canal, with leasing expected to begin in early 2027.