A development site in Red Hook, Brooklyn has been sold for $5,200,000. The property located at 106-108 Coffey Street offers a total of 15,675 square feet of buildable space. The buyer, Red Hoek +Partners, represented by Lee Cohen, acquired the asset from the seller, Red Hook Building Company, represented by Robert Chambers. The deal was facilitated by Sean R. Kelly and John Higgins from Ariel Property Advisors.

Summary of transaction details

• Property Type: Development Site
• Transaction Amount: $5,200,000
• Address: 106-108 Coffey Street, Red Hook, Brooklyn
• Market: Red Hook, Brooklyn
• Buyer: Red Hoek +Partners - Lee Cohen
• Seller: Red Hook Building Company - Robert Chambers
• Brokers: Sean R. Kelly & John Higgins - Ariel Property Advisors
• Buildable Square Footage: 15,675 sq ft
• Price per Buildable Square Foot: $331

Sean R. Kelly and John Higgins from Ariel Property Advisors played a crucial role in representing the buyer and seller respectively, ensuring the successful completion of the transaction. The development site located in Red Hook offers significant potential for future development and investment opportunities.