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Developer Plans Luxury Apartments in Red Hook
RedHoek+Partners closed on a $4.185-million loan to purchase and renovate three properties in Red Hook, Brooklyn that the local developer plans to turn into luxury rental apartments.
Urban Standard Capital (USC) delivered the 18-month loan at 8.85% to RedHoek’s Lee Cohen to purchase these three properties: 253 Van Brunt St., a 6,600-square-foot building with six residential units and two commercial spaces; 385 Van Brunt St., a 2,800-square-foot building with three residential units and 93 Verona St., a parking garage with two spaces attached to 253 Van Brunt.
“Lee Cohen of RedHoek+Partners is pushing the boundaries by creating a product that doesn’t yet exist in Red Hook,” said USC’s Robert Levine. “Red Hook has a vibrant culinary and arts scene, but the options for luxury apartments are few and far between.”
- ◦Acquisition

