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By Accord Real Estate Group

2021 Spotlight On Brooklyn's Red Hook Neighborhood

February 9th 2021
Tags: All about Brooklyn New York, Brooklyn Real Estate

Red Hook continues to be one of Brooklyn's top Historic Industrial Waterfront neighborhoods.

Red Hook, Brooklyn NY real estate is an eclectic mix of lifestyle choices and investment opportunities such as single family houses, multi family living, mixed use properties and luxury condominiums.

However, with the rise of E-commerce and the Industrial real estate market seeing explosive growth over the last several years, Red Hook has emerged as a prime location for planned warehousing/ fulfillment center projects.

A massive 3 floor fulfillment center is planned to be built next to IKEA located at 640 Columbia Street. The facility will be 335,813 square feet for commercial use with 164 parking spaces. Ware Malcomb Architects a leading architecture firm in commercial and corporate real estate is the architect of record. Dov Hertz of DH Property Holdings is the developer on this project.

Another state of the art warehousing/office project is planned for 595 Smith Street. The owners of the property are members of the Chetrit, Nakash and Gindi real estate families. The project will be built on the site of  Red Hook's historic S.W. Bowne Grain Storehouse. At one time warehouses like this one and others in Gowanus were the center of a thriving shipping industry. Plans for the project have not been filed yet.

Another industrial/ warehousing and distribution center project planned for Red Hook is the Thor Equities Revere Sugar Factory project located at 270-280 Richards Street. The original plan was to build a pair of office buildings on the site and now Thor plans to build a last mile warehousing complex. To be continued.

Last but not least by any means, UPS has a 1.2M square foot truck depot/distribution center complex planned which includes the Lidgerwood Building at 202 Coffey Street. Several years ago, UPS had purchased a group of 6 parcels from Sitex Group for $303M. The parcels include 44 Ferris Street, 219 Sullivan Street, 100 Ferris Street, 242 Coffey Street, 68 Ferris Street and 300 Coffey Street. To be continued...

If you are interested in selling your property or you know someone who is planning to sell their Brooklyn or New York property, whether a single family residential property,  an apartment building, a commercial property, mixed use, multi family, coop or condo, vacant land or a development opportunity, call us. You will be very happy that you did.

We always bring our clients the top market price for their property and provide exceptional personalized service from initial consultation to closing.

Thank you,

Accord Real Estate Group

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