A developer is looking to create an artistic hub in Red Hook by adding affordable studios and apartments to an upcoming waterfront project. Est4te Four, which is planning to break ground in the former New York Dock Building in November, will target local artists, musicians and models, according to Massimiliano Senise, a partner at the Los Angeles-based firm that paid $25 million for the building at 160 Imlay Street building last year.
Construction on the 70-unit Dock Building is slated to begin in November, DNAinfo reported. The developer also paid $11.8 million for a red-brick warehouse at 202 Coffey Street, with plans kicking off at the end of 2013 to convert the property into a mixed-use space.
Senise declined to discuss the price of units with DNAinfo, except to say that it would fit “all kinds of pockets.” A source familiar with the project told DNAinfo that the residences would start at around $500,000. [DNAinfo] – Hiten Samtani