Red Hook Five-Building Complex Hits Market
Billy Gray Jan. 9, 2014, 7:45 a.m.
The Brooklyn commercial real estate brokerage TerraCRG will exclusively represent the sale of 12-18 Commerce Street, an 11,200-square-foot property in Red Hook.
Five buildings constitute the 107-foot-by-100-foot lot between Richards and Columbia Streets. The property also includes a 966-square-foot shared courtyard. The asking price is $2.3 million.
Current tenants at 12-18 Commerce Street include music studios, offices and self-storage space. Recently, Red Hook has quickly evolved from an isolated (by public transportation) industrial neighborhood into a creative and culinary dynamo. The area also has become home to retail heavyweights like Fairway and Ikea.
“We’re seeing Red Hook transform from an industrial neighborhood into a hub for artists and musicians alike. Est4te Four is helping to accelerate this process by developing more than 1.1 million square feet of residential condos, retail and office space on Imlay, Coffey and Ferris Streets, just a few blocks from the property,” Dan Marks, vice president of investment sales at TerraCRG, said in a prepared statement.