Madison Capital Acquires Red Hook Industrial Property For $45M From Jack Guttman

The industrial property located at 688-702 Court Street in Red Hook has been sold for a price of $45,000,000. This transaction took place on 06/09/2021. The property spans a total square footage of 65,015 and was sold at a price per square foot of $692. The building has a total building square footage of 315,360, resulting in a price per building square foot of $142. The previous sale of this property occurred on 8/2013 for a price of $10,200,000.

Summary of transaction details:

• Property Type: Industrial
• Transaction Amount: $45,000,000
• Buyer: Madison Capital
• Seller: Jack Guttman
• Property Address: 688-702 Court Street
• Market: Red Hook

The buyer in this transaction is Madison Capital, while the seller is Jack Guttman. Richard Wagman and Jack Guttman shared an image of the property on Instagram. No additional information is available regarding the deal participants or any financing arrangements.