Est4te Four Buys up More Red Hook Warehouses, Plans Office Conversions

Italian developer Est4te Four, which is transforming 160 Imlay Street into condos, has dropped $33,025,000 on four more properties in Red Hook, according to public records. One of the purchases is 64-82 Ferris Street, a huge three-building complex on the waterfront that used to house printing presses for The New York Daily News. The Milan-based developer plans to convert the existing warehouses into office space for creative companies and put up new buildings that could either be more office space or a hotel, according to its website.

Est4te Four executive Stefano Marciano signed a $6,500,000 mortgage last month for four neighboring waterfront plots — 64-82 Ferris Street, 242 and 300 Coffey Street, and 217-255 Wolcott Street. He’s also the signer on all three deeds, which hit public records September 30 for $17,503,250, $9,907,500 and $5,614,250 respectively.

Last week, Est4te Four launched sales for its condo conversion of 160 Imlay with prices starting at $973,000 for a one-bedroom. The developer is also planning to convert a large red-brick warehouse at 202 Coffey Street into art galleries and studios. And over the summer, the company entered contract to buy two commercial properties at 62 Ferris Street and 219 Sullivan Street.

Photo by Google Maps