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Read the press release here.

Massive Red Hook Lot Hits Market For $22M

By Nikhita Venugopal | December 1, 2015 3:39pm
 The Ferris Street property between Wolcott and Dikeman streets has been listed for $22 million, according to Marcus & Millichap.
The Ferris Street property between Wolcott and Dikeman streets has been listed for $22 million, according to Marcus & Millichap.
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Marcus & Millichap

RED HOOK — A Ferris Street lot currently used as a lot for private buses has hit the market for $22 million, realtors said Monday.

The 80,000 square-foot property at 63-79 Ferris St. spans the block between Wolcott and Dikeman streets, including a signficant portion of the block toward Conover Street, real estate firm Marcus & Millichap said. 

In the official listing announcement, listing agents said the property could serve as strong locations for "office, creative space, education, retail and other commercial developments."

Zoned for manufacturing, the site holds about 160,000 buildable square feet, which listing agents hope will attract developers looking to "capitalize on Red Hook's emerging Creative and Tech economy.” The property is near to a location currently being eyed for an eight-story nursing home.

Matt Rosenzweig, one of the property's listing agents, told DNAinfo that while Red Hook's lack of commuting options has slowed development in years past, he believes that future plans for the neighborhood, such as the planned 1.1 million square-foot Red Hook Innovation Studios, are attracting potential residents and developers.  

Interest in the neighborhood's real estate market has grown in recent years, especially after Italian developer Est4te Four announced its high-end residential conversion of a former New York Dock Building.