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New York & Tri-State  + Outer  + Apartments  | 

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.”

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About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 15-20 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

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