Developer to Break Ground on Condos and Artist Studios on Red Hook Waterfront

Finally, some movement at the long-rumored conversion of an empty warehouse on Imlay Street in Red Hook — and it’s going to be condos after all, aimed at artists. Developer Est4te Four  plans to break ground next month on a condo conversion at the former New York Dock building at 160 Imlay Street, according to DNAinfo. The luxury developer plans to market their “affordable” apartments to artists, models and other creative types — possibly as soon as next month. An anonymous source told DNAinfo last year that units will start around $500,000. The Los Angeles-based firm bought the century-old Imlay Street building for $25,000,000 and a red-brick warehouse nearby at 202 Coffey Street for $11,800,000 in 2012. Construction is expected to last between 18 and 24 months at Imlay Street and about a year at Coffey Street, where construction is scheduled to start by the end of the year.

Architecture firm Adjmi and Andreoli is overseeing both projects. At Imlay Street, they filed a disapproved plan application in May for 69 residential units, a rooftop pool and an enclosed parking lot with 44 spaces, totaling 37,942 square feet of residential space. Although the developer had previously said the Imlay Street building would have commercial space on the first two floors and a restaurant and grocery store on the ground level, the current plans don’t show any commercial space. Meanwhile, the Coffey Street development will hold five studios and exhibition spaces and one or two open air courtyards, DNAinfo reported.

Developer Targets Artists for “Affordable” Waterfront Studios, Apartments [DNAinfo]
Past and Present: New York Dock Company Warehouses [Brownstoner]
Looks Like Rentals for Red Hook Warehouse at 160 Imlay [Brownstoner]

18 Comment

  • please lets have some artsy, bohemian, cool, people, im getting so sick of everything being turned into young transplanted families all over the place with little kids and strollers every where, yuck!!!

    even DUMBO is turning into that.

  • eradicator

    “Artsy,bohemiam,cool,people” = LMAO

  • Townie

    …hopes to build a “creative hub” in Red Hook by marketing the building’s units to local artists, musicians and models. “We want to mix the world of fashion, art, music,” said Massimiliano Senise, a partner at the Los Angeles-based firm…

    They would be so lucky to have young transplanted families buy into this place.

  • I have a hard time believing the ‘affordable’ part. However, I think it’s just a matter of the right buyers lining up for this. I think it’s a great building (specifically Imlay), that lends itself to a superb renovation (I think the timelines are hopeful, that’s a huge building!) Whether it will stay ‘artsy’ and less ‘stroller-y’ remains to be seen. However, if they’re using the Fairway apartments model, except in a sales direction, I think it could work. Fingers crossed.

  • Townie

    Rebecca, are those your quotes around the word affordable or the developer’s?

  • eradicator

    Cant see how they can be affordable as they would have to be larger sf apartments…original plans called for >120 apartments and was revised to 69,so at the least the sf-age has to be on the 1000+ size. Cant see these being sold for less than 800-1000/sf so youre looking at 800k-1m for 1000sf. Maybe you get a little discount for having to pay for todays market and not getting to move in for 18-24 months + not being able to get a mortgage at todays low interest rates(who knows where they will be in 18/24 months – presumably higher)

  • Someone needs to reevaluate the term “models” and their creative contributions to society.

  • Does anyone know if they got this building rezoned to allow a residential conversion? I thought the issue here as in much of Red Hook is that many of the old loft buildings are in an M – manufacturing zone.

    • Zoning is M2-1 – MEDIUM MANUFACTURING DISTRICT, according to latest DOB permits and PropertyShark. It looks like a zoning change has not yet been approved.

      • Sometimes developers will skirt the rule by renovating them as “artist’s lofts” but I don’t think the units can legally be occupied as apartments without a variance. This usually means that they can be rented but can not be sold as condos since you can’t get a residential mortgage.

  • I live just a few blocks away from that hulking skeleton of a building and I am happy that anything is happening over there! I think that they will change the zoning since they are not claiming to be building luxury condos, but the term “affordable” is relative. If it is true that there will be relatively affordable live-in artist lofts with gallery spaces, that’s really great. My only concern is that they provide off street parking; it is getting harder and harder to park in the area now that car driving middle class people are moving to Red Hook. It is also a good thing that it will not be another mini-storage place!!

  • dash

    Yes, it’s going to be afforable AND filled with artists and models. And there are going to be orgies every night!

  • “BSA variances lapse if substantial construction of the project is not made within four years from the date of issuance, or from the date of final judicial proceedings. 160 Imlay Street LLC applied to BSA in February 2012 for an extension to complete construction under the previously issued variance. On May 1, 2012, BSA agreed to grant 160 Imlay Street LLC an additional four years to complete warehouse conversion according to the previously approved plans.” …..http://www.citylandnyc.org/bsa-grants-red-hook-developer-time-extension-for-warehouse-conversion/