The Federal Open Market Committee (FOMC) voted at its May meeting to maintain the range for the federal funds rate between 4.25% to 4.50%. Despite uncertainty, the announcement noted that indicators suggest economic activity has continued to expand at a solid pace. The unemployment rate remains steady at 4.2%, with payroll jobs averaging 155,000 per month over the last three months. While inflation is above the 2% target, it has dropped significantly since mid-2022. Personal Consumption Expenditures (PCE) rose 2.3% in the 12 months ending in March and, excluding food and energy, increased 2.6%. GDP was 2.5% last year, but declined in the first quarter, likely driven by businesses bringing in imports ahead of potential tariffs.

3-property, 27-unit portfolio spanning 20,320 square feet; Entirely free market status, not subject to rent stabilization

21,420 BSF mixed-use development site in the heart of the Gowanus; Located on the south side of Douglass Street between 3rd & 4th Avenue