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55 Bay Street warehouse Brooklyn NY

DHPH Trades Amazon-Leased Red Hook Warehouse to Brookfield

DH Property Holdings LLC (DHPH) has sold 55 Bay St., an 83,000-square-foot distribution facility in Red Hook, Brooklyn, to Brookfield for $45 million. The property was developed on spec and is now leased to Amazon Fresh for 10 years. 

The JLL team of vice chairman Rob Kossar, executive managing director Leslie Lanne and associate VP Jeremy Liebler represented DHPH in the sale of 55 Bay and in the lease transaction with Amazon. 

Founded in 2016 by Dov Hertz, Manhattan-based DHPH is currently constructing a 500,000-square-foot, multi-story distribution warehouse at 640 Columbia St., also in Red Hook, which is leased by Amazon’s AMZL logistics arm. Reportedly it’s the first multi-story logistics facility on the East Coast. 

“We identified the growing need for distribution facilities close to consumers in New York City and developed 55 Bay St. on spec to meet that requirement,” said Hertz.  


Inside The Story


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 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).

  • ◦Sale/Acquisition