Townhouse Alternative: Red Hook Warehouse
Here’s an idea for someone a little more adventurous than your typical brownstone buyer. This 5,000 square foot warehouse at the corner of Richards and King Streets in Red Hook is now available for $1.4 million. Though you wouldn’t know it by looking at the photo, it’s actually zoned for residential. Since it’s an R5…
Here’s an idea for someone a little more adventurous than your typical brownstone buyer. This 5,000 square foot warehouse at the corner of Richards and King Streets in Red Hook is now available for $1.4 million. Though you wouldn’t know it by looking at the photo, it’s actually zoned for residential. Since it’s an R5 zone, though, the FAR is only 1.25, making it less interesting to a developer. But for a ballsy, well-heeled owner, converting this could be a fantastic project. Imagine the possibilities. What do people think about the price of a little more than $200 per buildable foot?
146 Richards Street [Frank Galeano] GMAP P*Shark
“i don’t know why the cafes on Smith Street are doing so well”? perhaps because they serve a need in the area for good food at decent prices. i’d love to hear your pitch when you are showing clients real estate in downtown brooklyn – “this property is walking distance from smith street, which people in the neighborhood seem to like but which i find distasteful. really, you’re better off living somewhere else.”
No the property is not worth $200 per sq ft. I am a realtor in dt Brooklyn, the
price is totally off the wall. Please check out the neighborhood at night, when the drug activity in the area is visible.
New Yorkers, not people who have been here five = ten years are interested in location, location, location. Smart money,
versus not smart money,wouldn’t touch such
a deal. I don’t know who is fueling this market. But then again, I don’t know why the cafes on Smth Street are doing so well. Maybe if you have an out of state perception of what food and service should be, it is fine dining. In reality, i am being kind to say that the food is just so so, because most of it is not acceptable to an educated palate.
I believe the real estate deals in the area will give many heartburn in the long run. My question is whether the houses are worth the sales price, or whether the dollar isn’t worth anything.
No the property is not worth $200 per sq ft. I am a realtor in dt Brooklyn, the
price is totally off the wall. Please check out the neighborhood at night, when the drug activity in the area is visible.
New Yorkers, not people who have been here five = ten years are interested in location, location, location. Smart money,
versus not smart money,wouldn’t touch such
a deal. I don’t know who is fueling this market. But then again, I don’t know why the cafes on Smth Street are doing so well. Maybe if you have an out of state perception of what food and service should be, it is fine dining. In reality, i am being kind to say that the food is just so so, because most of it is not acceptable to an educated palate.
I believe the real estate deals in the area will give many heartburn in the long run. My question is whether the houses are worth the sales price, or whether the dollar isn’t worth anything.
Just imagine some bonus baby turning that into a frat boy house for his dudes. Could happen 15 minutes to Wall Street.
Actually, it’s not right near the BBT. It’s King and Richards, across the street from Coffey Park. Some trust funder will buy it and fit it up. We’ll read about in Dwell.
Its right near the battery tunnel… not a the nicest part of Red Hook. I think they will be waiting a long time for the right buyer.
If I still worked downtown. I got close to doing something like this in Greenpoint. Either there or Williamsburg.
I happen to like Red Hook, but don’t want to commute from there.
I’ve always loved the idea of buying a one- or two-story manufacturing building and lofting it out, with everything mechanical exposed, maybe an interior courtyard kinda thing. But the price on this is too high, and the location doesn’t do much for me, either.
there are 3 or 4 oempty lots on this block. why not just buy one of those? any idea what the price per square foot is on those?