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**Red Hook Industrial Sale Sets Neighborhood Pricing Record at $565 Per Square Foot**
Marcus & Millichap has successfully arranged the sale of an 11,850-square-foot industrial property located at 30 Richards Street in the Red Hook neighborhood of Brooklyn. The property was sold for $5,650,000, setting a new record in the area with a price of $565 per square foot.
“At $565 per square foot on the building’s floor plate, this sale represents a record price for an industrial building in Red Hook,” said Jesse Kay from Marcus & Millichap’s Manhattan office. “This outcome is the result of a comprehensive marketing campaign yielding over a dozen written offers.”
Kay, along with Jakub Nowak, also of Marcus & Millichap, represented the seller in the transaction. The buyer was secured by Haritini Pandis of Compass.
The building, originally constructed in 1931, occupies a 100-foot-by-100-foot corner lot at the intersection of Richards Street and Seabring Street. It features high-ceiling ground-floor industrial space, two drive-in doors, mezzanine storage, and second-floor office space. The property was delivered vacant and was previously owner-occupied.
Located with convenient access to the Brooklyn-Queens Expressway and the Hugh L. Carey Tunnel, the property offers seamless connectivity to Manhattan, Queens, and greater Brooklyn.
This transaction marks a significant milestone for the Red Hook industrial market, reflecting strong demand and growing interest in the area.
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