Brodsky’s Bold Bet on Brokers Boosts Leasing at Gowanus Project
Brodsky’s Bold Bet on Brokers Boosts Leasing at Gowanus Project
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July 23, 2025 | New York City
As the FARE Act took effect in June, banning landlords from passing broker fees onto tenants, most developers grumbled or hiked rents. But the Brodsky Organization flipped the narrative. At its new 499 President Street development in Gowanus, Brodsky doubled broker commissions to lure tenant leads — and the move paid off handsomely.
Instead of the standard one month’s rent, brokers were offered two months, resulting in payouts as high as $16,000 for securing leases. The developer also launched a new broker portal to streamline showings, applications, and commissions, further incentivizing agents to bring clients. The result: a surge in leasing activity that pushed Brodsky ahead of its absorption schedule.
Leasing director Joe Porritt credited the strategy for the uptick in broker engagement, noting that few agents had been active at the building before the policy shift. The company reinforced its outreach with a rooftop broker event to spotlight the building’s features and commission structure.
The 262-unit market-rate development includes 88 income-restricted units and ground-floor retail. In a competitive Gowanus market, Brodsky’s differentiated strategy — centered on supporting brokers — has proven to be a powerful post-FARE Act play, showing that creative incentives can outperform legal pushback.
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