Dov Hertz’s DH Property Holdings has sold a new Amazon distribution center at 55 Bay Street in Red Hook, Brooklyn, to Brookfield Properties for $45 million, two months after finishing construction, Commercial Observer has learned.
Brookfield’s spokespeople declined to comment on the transaction, but the real estate investment firm closed on the acquisition of the 99-year ground lease for the 85,000-square-foot warehouse on Thursday, according to DH Property.
Photo: JLL
August 4, 2023
400 new affordable apartments were announced for the Financial District this past week. Roughly a third of the new buildings at 5 World Trade Center, will be set aside for middle- and working-class New Yorkers, with 80 of those apartments earmarked for people who lived and worked near the old World Trade Center as well… Read more »
May 22, 2023
“The mortgage refinancing boom is over, but its impact will be seen for decades to come”. Fed data shows that about 14 million mortgages were refinanced during the pandemic period starting in March 2020. Some 64% were considered “rate refinances,” or homeowners looking to take advantage of lower borrowing costs. Average savings totaled about $220… Read more »
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