The land may give way to more retail, office space, or a hotel
The site of a shuttered Pathmark at the butt of the Gowanus Canal has sold for $35 million to Meral Property Group and Joyland Group, Crain’s reports. The supermarket closed up shop after its parent company, A&P, went under in late 2015. The shop appeared on the auction block soon after, where Meral and Joyland paid $6.3 million for Pathmark’s remaining lease.
What Meral and Joyland will do with the property is unclear, but their options are limited: the site, zoned manufacturing, can give way to an additional 315,000 square feet of commercial space, which could be used as retail, office, or a hotel. The Pathmark now takes up 125,000 square feet on the site. A large portion of the nearly five-acre site at 1-37 12th Street is currently used as a parking lot.
Crain’s notes that the developer will likely keep the existing structure in place, because a new building at the site could only be a fraction of the size under the city’s current zoning laws.
- Former Pathmark site in Gowanus sells for $35 million [Crain’s]
- Map: New York City's Disappearing Grocery Stores [Curbed]