Est4te Four’s Red Hook office megaproject gets new renderings

Italian firm's 1.1 million sf complex dubbed Red Hook Innovation Studios

TRD New York /
Sep.September 16, 2015 01:15 PM

Italian developer Est4te Four unveiled new renderings and details for its planned 1.1 million-square-foot office complex on the Red Hook waterfront in Brooklyn, with the project recently renamed Red Hook Innovation Studios.

Milan-based Est4te Four is looking for a partner to take a $100 million stake in the development, which would feature office space, a hotel, and a manufacturing center and sales outlet for companies producing food, clothes or furniture.

A former shipping terminal along Bowne Street would be integrated into a landscaped waterfront promenade along the East River, creating a new pier for boats and kayakers, according to New York YIMBY. A parking garage would also feature a landscaped roof that slopes down to meet the promenade.

Est4te Four has spent $61 million assembling properties in Red Hook for the five-building complex, which is expected to cost $400 million and may not break ground until the Italian firm finds an investor willing to acquire a 49 percent stake in the development. A Cushman & Wakefield team led by Bob Knakal is marketing the minority interest.

The complex would be unprecedented for Red Hook in its scale and would become the largest block of newly constructed office space outside Manhattan. The development would cater to creative, fashion and tech tenants that have increasingly looked to Brooklyn in recent years — leading to a wave of office developments in the borough, like the 6 million-square-foot Industry City complex in Sunset Park.

Est4te Four launched sales last year at its nearby six-story condo conversion at 160 Imlay Street in Red Hook, with the priciest unit a $3.86 million penthouse. [NY YIMBY]Rey Mashayekhi


Related Articles

arrow_forward_ios
TRD's Erik Enguist and Port Authority's Rick Cotton

Port Authority, out $3B, has waterfront land to sell

Port Authority, out $3B, has waterfront land to sell
TRD's Erik Enguist and Port Authority's Rick Cotton

Can the Port Authority bring NYC back? Tune in to TRD Talks Wednesday

Can the Port Authority bring NYC back? Tune in to TRD Talks Wednesday
Carroll Gardens and Flatbush in Brooklyn (Photos by Steven Pisano via Flickr; Mrbrklyn via Wikipedia; iStock)

Brooklyn’s most and least expensive neighborhoods

Brooklyn’s most and least expensive neighborhoods
Fairway in Red Hook (Google Maps)

Food Bazaar to take over Fairway’s Red Hook, Queens locations

Food Bazaar to take over Fairway’s Red Hook, Queens locations
Ample Hills Creamery co-founders Brian Smith and Jackie Cuscuna (Credit: Ilya S. Savenok/Getty Images for NYCWFF; iStock)

Ample Hills Creamery to lay off all 101 of its workers

Ample Hills Creamery to lay off all 101 of its workers
FM Capital's David Brecher and LIVWRK's Asher Abehsera with 160 Van Brunt (Credit: Google Maps)

Red Hook home of Tesla showroom up for sale

Red Hook home of Tesla showroom up for sale
Fairway at 480-500 Van Brunt Street in Red Hook and the O’Connell Organization's Greg O’Connell (Credit: Google Maps)

Fairway landlord: Private-equity owners ruined Red Hook store

Fairway landlord: Private-equity owners ruined Red Hook store
160 Imlay Street

Est4te Four gets $74M inventory loan for Red Hook condo

Est4te Four gets $74M inventory loan for Red Hook condo
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...