The Real Deal New York

TerraCRG’s Ofer Cohen could unload Red Hook site for $20M

Former boat-engine repair shop offers 100,000 square feet of loft-like industrial space
March 21, 2014 06:05PM

Ofer Cohen has put a Red Hook development site on the market, saying the commercial property could fetch as much as $20 million.

Formerly home to a boat-engine service and repair facility run by Golten Marine, the 100,000-square-foot brick industrial building at 160 Van Brunt Street would be ideal for creative companies looking for a Midtown South office space vibe, Cohen told Crain’s

It also doesn’t hurt that the space, bound by Imlay and Summit streets near the wharf at the mouth of the East River, is surrounded by neighborhoods with expanding populations of creative tenants, the news site reported.

“This property has massive windows and huge ceiling heights so it could be very attractive as an office conversion project,” Cohen told Crain’s. “There are tenants increasingly moving to office space in Williamsburg and Dumbo and you can see areas like Red Hook and Gowanus becoming the next areas that catch on as office locations.”

Real estate agents are privy to the area’s growth as sale prices jump, as previously reported.  [Crain’s]Angela Hunt