The Price for a Red Hook Warehouse? $11.8 Million


The three-story brick warehouse at 202 Coffey Street, on the corner of Ferris Street in Red Hook, just hit public records for $11.8 million. And we already know what’s happening to the 86,000-square-foot space! Last week Curbed posted interior shots of the building, which will be converted into five different artist studios, workshops and display spaces. The architects, Adjmi and Andreoli, plan to fix up the interior and reopen the windows. The conversion should be complete by late 2013 or early 2014. The architects are also undertaking the residential conversion of the New York Dock Company building on Imlay Street, which will be converted to condo units and artists’ studios. Update: The building developer is EST4TE FOUR, an international firm that specializes in creative spaces.
Inside Two Red Hook Conversion Projects [Brownstoner] GMAP

12 Comment

  • I am glad it is going towards the arts instead of “2 room special supposedly luxury condos”. yay !!

  • european company doing it, very cool uses
    what they really doing is way more interesting,multi disciplinary and interesting than the initial description whoever leaked the story really eff’ed it up

  • How does that make sense? That works out to around 3 million per “artist” space. Who are they expecting to be able to swing that? Art of investment banking perhaps?

  • EST4TE FOUR is also doing the reno of 50 Varick for Spring Studios, which looks pretty sweet.

  • I doubt we’re talking struggling artists. Rumor ran rampant for a while that Julian Schnabel had bought the buidling, so not surprised to hear this is what’s happening. Better this than luxury condos, though it would be great if it had a public element. Otherwise, like it’s neighbor The Intercourse, down the street, it will be just another gated community plopped down in the middle of the neighborhood.

  • I suspect that these will be sold as “artist lofts” with a 3/4 bath and a kitchen without the range. This is quite common way to convert buildings that are not zoned for residential use and rent them out to people who clearly intend to live in the space. It might be a bit more complicated to sell these since you will not be able to get a residential mortgage.

  • whats greggy jr. think of all this?

    • I think rather than anonymously provide your useless commentary on this platform you should get off your computer, come to Red Hook, and volunteer to help residents and businesses still in need.

      • there he is.

        i’ve been in the rockaways putting my time in where it’s really needed. red hook turned volunteers away several times because they had enough hands.

        • They might have had enough unskilled hands by the time you showed up or no known need whatever day you were there, but it’s awfully callous and ignornat to assume that there’s no real need in the Red Hook community any longer post the storm. I live there and you still see piles of debris every day and buidlings in various states of destruction and repair and con ed and national grid ripping up the streets and people still without power or heat and thier lives are upended and their homes and livlihoods in jeopardy. Need changes on a daily basis and the people at RHI will be the first to tell you that. So don’t speak for a whole neighborhood’s needs without real knowledge.

        • They might have had enough unskilled hands by the time you showed up or no known need whatever day you were there, but it’s awfully callous and ignornat to assume that there’s no real need in the Red Hook community any longer post the storm. I live there and you still see piles of debris every day and buidlings in various states of destruction and repair and con ed and national grid ripping up the streets and people still without power or heat and thier lives are upended and their homes and livlihoods in jeopardy. Need changes on a daily basis and the people at RHI will be the first to tell you that. So don’t speak for a whole neighborhood’s needs without real knowledge.

  • I wished that one of these spaces, either here or at 160 Imlay St, could be sold to a non-profit org like SWBDC for use as low-cost industrial space for creative economy businesses (woodworkers, photograph labs, set fabricators). Greenpoint Manufacturing and Design Center and EWVIDCO have been doing this for years. Can’t believe something like this doesn’t existing in RH. Of course, it would have to be subsidized with public money just like 3 Ward/Crown Heights Creative Hub project. http://therealdeal.com/blog/2012/09/07/third-ward-food-incubator-to-anchor-butlers-crown-heights-development/