WELCOME TO GOWANUS
Welcome to Gowanus, New York City's most trending and artistic neighborhood.

A hub of creativity, technology and some of the coolest start-up businesses around, Gowanus lies at the heart of Brooklyn, drawing from the creativity of its surrounding neighborhoods.

Boasting spectacular skyline views of both Brooklyn and Manhattan, it has become the go-to location for some of the city's greatest leading talent and most marked innovation.

Conveniently located in the heart of Brooklyn, New York, Gowanus is surrounded by equally high-trend areas such as Brooklyn Heights, Park Slope, Carroll Gardens, Sunset Park, Redhook, Park Slope, Cobble Hill, Downtown Brooklyn, Fort Greene, Clinton Hill, and Prospect Heights.

This city program benefits companies relocating to Brooklyn from Manhattan (below 96th St) or outside of NYC, by providing $3,000 annually for each full-time employee. Eligible companies must sign an office lease for at least a 3-year term and may collect the REAP benefits for up to 12 years. Companies may redeem their REAP benefits as a tax credit against city taxes, however, in the case of start-ups or small businesses not generating sufficient taxable income, REAP benefits may be collected as a direct payment from the city.

Brooklyn office tenants are exempt from the NYC Commercial Rent Tax, which imposes a tax of 3.9% on tenants paying more than $250,000 rent per year, in most office districts in Manhattan.

EXAMPLE: A tenant in Midtown Manhattan and a tenant in Williamsburg, Brooklyn both pay a $300,000 annual rent payment. The Midtown tenant is required to pay the Commercial Rent Tax of $11,700 ($300,000 x.039%) while the Brooklyn tenant is exempt from this payment.

This city program reduces property tax obligations for up to 25 years, subject to overall capital improvements. This program benefits tenants by keeping their percentage of real estate tax obligations to a minimum.