Madison Capital Acquires Industrial Property On Court St. In Red Hook For $45M

Located in the Red Hook market, the industrial property at 688 Court St. was recently sold in a closed transaction on May 27, 2021. The property spans 160,000 square feet and boasts a price per square foot of $281.

Summary of transaction details

• Property Type: Industrial
• Transaction Amount: $45,000,000
• Address: 688 Court St.
• Market: Red Hook

Madison Capital, represented by Richard Wegman, emerged as the buyer in this deal, while Jack Guttman served as the seller. The transaction was facilitated by David Junik of Pinnacle Realty. The property was listed with an asking price of $50,000,000 before ultimately selling at $45,000,000.

Pinnacle Realty, known for its expertise in off-market industrial transactions, including sales, rentals, and landlord and tenant representation, handled the negotiations for this deal. For additional information about this transaction, you can get in touch with David Junik by phone at 718-784-8282 or via email at [email protected].