The Real Deal New York

Red Hook warehouse with 200K buildable sf asks $38M

One-story building along Gowanus Canal is just south of the Red Hook Ball Fields
By Mark Maurer | March 06, 2015 10:40AM

A Red Hook warehouse offering 200,000 buildable square feet is up for grabs.

Sunshine Lighting, a wholesale supplier of bulbs and lamps, is putting the property near Halleck Street on the market for $38 million.

The one-story building sits on two adjacent lots at 724-742 and 744 Clinton Street. Sunshine has owned and fully occupied the 100,000-square-foot industrial space since 2005, when it paid $9.3 million.

The owner has extensively renovated the property, including installing a new roof. There are 22-foot-high ceilings and 17 loading docks. The site, which runs the Gowanus Canal and is just south of the Red Hook Ball Fields, is zoned for commercial use.

Pinnacle Realty’s David Junik is marketing the building. The asking price comes to $190 per buildable square foot.

Developers have been increasingly targeting the neighborhood for projects. Los Angeles-based Italian developer Est4te Four is planning a 1.1 million-square-foot office complex there, and also acquired four waterfront properties last year for a total of $30 million.