Key Red Hook industrial site sells full square block for $10M

Brokers TerraCRG Make The Deal

July 5, 2022 Brooklyn Eagle Staff

202 Van Dyke Street, a block-wide, multi-tenanted industrial warehouse.

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Brokers TerraCRG Make The Deal
Brooklyn’s leading commercial real estate brokerage firm has closed on the $10,230,000 sale of 202 Van Dyke St., a block-wide, multi-tenanted industrial warehouse, located in Red Hook.

TerraCRG Partners Ofer Cohen, Dan Marks, Daniel Lebor, and Associate Jackson O’Neill of TerraCRG exclusively represented the seller, M-Kids,LP, on this deal. The buyer is J&R Acquisitions, LLC.

202 Van Dyke Street, zoned M1-1, offers 68,000 gross square feet comprised of 36,400 SF above grade in addition to 32,400 SF usable, below grade space. J & R Acquisition, LLC purchased the property from M-Kids, LP with a sales price reflecting $281 per Above Grade SF.

“We are thrilled to announce the sale of another industrial property in Red Hook, Brooklyn,” said Dan Marks, Partner at TerraCRG. “It’s especially gratifying to be able to help generational property owners through a successful sales process.”

Located on the corner Ferris and Coffey Street, this site is surrounded by a plethora of notable retail, including Tesla and Hometown Bar-B-Que, as well as other nearby attractions, including Pier 41’s Waterfront Garden and Governors Island, further enhancing the bright future of this cool and quaint neighborhood.

“This part of Red Hook has witnessed tremendous change over the past few years with the opening of new restaurants, bars, distilleries and breweries, including 202 Van Dyke’s very own, Hoek Pizzeria,” said Daniel Lebor, Partner at TerraCRG. “We are excited to see what the new owners will not only add to this unique property, but neighborhood.”

TerraCRG is the only commercial real estate brokerage firm focused exclusively on the Brooklyn market. Since its inception in 2008, TerraCRG has been at the center of the transformation of Brooklyn, becoming a true market leader throughout the process that has handled over two billion dollars’ worth of transactions in Brooklyn. Ofer Cohen founded the firm with the vision of catering solely to the most exciting and robust sub-markets in the U.S. The team’s keen focus and comprehensive knowledge of both the industry and region, coupled with active civic involvement, makes them trusted advisers to property owners, developers, and institutions looking to capitalize on the continued growth of this market.