Kay and Nowak of Marcus & Millichap broker $5.65 million sale of 11,850 s/f industrial property in Brooklyn

Brooklyn, NY Marcus & Millichap brokered the sale of an 11,850 s/f industrial property at 30 Richards St. in the Red Hook for $5.65 million.

“At $565 per s/f on the building’s floor plate, this sale represents a record price for an industrial building in Red Hook. This outcome is the result of a comprehensive marketing campaign yielding over a dozen written offers,” said Jesse Kay in Marcus & Millichap’s Manhattan office. 

Kay, along with Marcus & Millichap’s Jakub Nowak, exclusively marketed the property on behalf of the seller. The buyer was procured by Haritini Pandis of Compass.

Built in 1931, the 11,850 s/f building sits on a 100-ft.-by-100-ft. corner lot with frontage along Richards St. and Seabring St.. It includes high-ceiling ground-floor industrial space with two drive-in doors, mezzanine storage and second-floor office space.

The building was owner-occupied and was delivered vacant. It is minutes from the Brooklyn-Queens Expwy. and the Hugh L. Carey Tunnel, providing access to Manhattan, Queens and greater Brooklyn.