The developer behind a long-delayed Red Hook condo project is switching up sales at the building, tapping Living New York to replace Douglas Elliman’s Eklund-Gomes Team.
The change comes with nine of the 70 units at 160 Imlay Street still unsold nine years after developer Est5te Four launched sales.
The brokerage plans to lean heavily on social media for the rebranding, including dispatching real estate influencers on TikTok and Instagram, Living New York co-founder Devin Someck said.
Est5te Four bought the former warehouse of the New York Dock Company for $25.1 million in 2012. Delayed by a series of construction complications, the developer sought additional financing to keep the project going and secured a $74 million condo inventory loan from Churchill Real Estate Holdings in late December 2019.
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Of the available condos, five are finished and renovated while the other four will remain as white-box units. Prices will range from $2.5 million to $4 million for the remaining three- and four-bedroom units.
Designed by Morris Adjmi Architects, condos at the Red Hook Lofts range from studios to four-bedroom units.
Red Hook primarily consists of single-family residences and row houses separated into apartments. The neighborhood and surrounding areas have attracted their fair share of multimillion-dollar development projects over the past decade.
Living New York’s Kelly Rogers — a recent transfer from Compass who has handled other projects in the neighborhood — has the building’s remaining listings.
The 90-person Elliman team led by Fredrik Eklund and John Gomes signed a five-year deal last month to re-commit to Elliman, after the brokerage said the team reeled in more than $4 billion in transactions across its 13 markets.