Family Laundry Arrow Linen Sells Park Slope Site for $55M
The deed records two lots, 54,580 square feet of land, from a rezoned industrial assemblage in Park Slope.
Arrow Linen Supply, a family-owned commercial laundry, has sold its two Prospect Avenue lots in Park Slope, Brooklyn, for $55 million, and the deed was recorded Oct. 5 after the company’s longtime chief executive died in May.
Why it matters
The seller is a working Brooklyn business, not a speculator. Per Commercial Observer, John Ambrose Magliocco took the company over in 1958 from his father, an Italian immigrant, and died in May at 96. The company said the remaining shareholders then chose not to take part in developing the site. The ACRIS deed names Prospect Ave Holdings LLC as the buyer; Commercial Observer identifies the purchaser as Yitzchok Katz’s Goose Property Management. The seller was represented by JLL, and the buyer did not use an outside broker, per the same report.
The numbers
The deed covers lots 61 (467 Prospect Avenue) and 73 (441 Prospect Avenue) on block 1113. PLUTO lists 54,580 square feet of land and 42,850 square feet of buildings, both lots zoned R7A, a two-story 1910 building on lot 61 and a one-story 1965 building on lot 73. At $55 million, that is about $1,008 per land square foot and $1,284 per building square foot. The City Council rezoned the assemblage in February 2025 for two buildings and about 250 homes, per Commercial Observer, which puts the price near $220,000 per home on that plan. Goose filed revised plans in August for four 10-story buildings and 396 homes in total, which would cut it to about $139,000 per home. Our ACRIS pull shows no mortgage recorded with the deed.
What’s next
Watch whether the revised 396-home plan moves through the Department of Buildings and whether it uses the 485-x tax incentive, which Commercial Observer says the plans may. Arrow Linen’s operations and headcount after the sale were not stated in the sources we found. For the wider market picture, see the New York market page.
On the record
What we checked ourselves, and where you can check it too.
- Public recordThe ACRIS deed (CRFN 2026000283560) covers Brooklyn block 1113 lots 61 and 73 for $55,000,000, from Arrow Linen Supply Co Inc. to Prospect Ave Holdings LLC, dated Sept. 25 and recorded Oct. 5, 2026. PLUTO lists 54,580 square feet of land (31,142 at 467 Prospect and 23,438 at 441 Prospect) and 42,850 square feet of buildings, which works out to about $1,008 per land square foot and $1,284 per building square foot.View the record on a836-acris.nyc.gov
- Our dataOur ACRIS pull shows no mortgage recorded alongside the deed and no earlier deed on either lot in the digitized record. The oldest Arrow Linen filing on these lots is a 2003 lease with the NYC Industrial Development Agency, so we can show the company on title for at least 23 years but cannot date its original purchase.View the record on a836-acris.nyc.gov
Sources
- NYC Department of Finance, ACRIS deed (doc ID 2026100200392001)Deed, $55,000,000, Arrow Linen Supply Co Inc. to Prospect Ave Holdings LLC, document dated Sept. 25, recorded Oct. 5, 2026
- NYC Open Data, PLUTOBlock 1113, lots 61 and 73: lot area, building area, zoning R7A, year built
- Commercial ObserverArrow Linen sells stalled Park Slope development site; buyer, rezoning and revised plans