Industrial building in Red Hook sells for $2.4M in estate sale

The entity 46 Coffey Holdings, LLC, with undisclosed ownership, paid $2.4 million to the estate of the late Hideo Wako through the entity 46 Coffey Inc. for the industrial building (F5) at 46 Coffey Street in Red Hook, Brooklyn.
The deal closed on February 20, 2026 and was recorded on March 18, 2026. The property has 4,000 square feet of built space for a total buildable of 4,000 square feet according to a PincusCo analysis of city data. The sale price per built square foot is $600 per the PincusCo analysis. (The price per square foot analysis is the transaction price divided by square feet as reported in public records and assumes no air rights have been sold.)
The signatory for the estate of Hideo Wako was Regina Kiperman. The contract date was October 17, 2025.

The property

The industrial building in Red Hook has 4,000 square feet of built space for a total buildable of 4,000 square feet according to a PincusCo analysis of city data. The parcel has frontage of 40 feet and is 100 feet deep with a total lot size of 4,000 square feet. The zoning is M1-1 which allows for up to 1 times floor area ratio (FAR) for manufacturing The city-designated market value for the property in 2022 is $428,000.

Transaction Participants

The attorney Svetlana Kaplun  participated in the transaction on behalf of the buyer.

Violations and lawsuits

There were no lawsuits or bankruptcies filed against the property for the past 24 months. In addition, according to city public data, the property has not received any significant violations in the last year.

Development

There are no active new building construction projects or major alteration projects with initial costs more than $1 million on this tax lot.

The neighborhood

In Red Hook, The bulk, or 40 percent of the 11.8 million square feet of commercial built space are industrial buildings, with specialty buildings next occupying 24 percent of the space. In sales, Red Hook has near average sales volume among other neighborhoods with $352.8 million in sales volume in the last two years and is the 23rd highest in Brooklyn. For development, Red Hook has had very little major development activity relative to other neighborhoods.It had 1.1 million square feet of commercial and multi-family construction under development in the last two years, which represents 10 percent of the neighborhood’s built space.

The block

On the tax block, there were six new building construction projects totaling 16,313 square feet. The largest is a one-unit, 2,876 square-foot residential (R-3) building submitted by Phillip Sulke with plans filed June 29, 2023 and permitted April 10, 2024. The second largest is a one-unit, 2,876 square-foot residential (R-3) building submitted by Phillip Sulke with plans filed June 29, 2023 and permitted April 10, 2024.

The majority, or 71 percent of the 37,200 square feet of built space are industrial buildings, with mixed-use buildings next occupying 15 percent of the space.

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