Big Red Hook Warehouse Buy for Manufacturing Biz

A building supply company that’s rented space in Red Hook recently got a little help from the city to buy the warehouse near that waterfront that it’s been leasing. Extech Building Material closed on an $8 million purchase of 87 Bowne Street and 57 Imlay Street, adjoining properties that total around 65,000 square feet. According to a press release sent out by the Industrial Development Agency late last year, the city “approved a mortgage recording tax waiver of about $232,400 and an exemption on the City portion of sales tax of approximately $4,500 to Extech Building Materials, Inc.” The company is supposed to renovate the Bowne and Imlay structures with the money and bring about 10 more employees to its operations there. The purchase is of slightly more than passing interest because of the warehouse’s proximity to 160 Imlay, which, of course, has been the subject of a drawn out battle for a zoning variance to go residential. A block away, though, Extech (with the city’s blessing) is obviously keen on keeping manufacturing business around.
160 Imlay Finally Gets the Go-Ahead [Brownstoner]