“When we sold 160 Van Brunt the demand was tremendous,” Marks said. “I remember we weren’t really sure how to price it. When we agreed on an asking price we thought around $200 per square foot for the existing building was an appropriate number, but what we found out very quickly was that there were a number of developers that we would never even have considered that really wanted to own in this part of Red Hook. They really liked the bones of the building and the scale. We sold the property for $2 million more than what we brought it to market for. That taught us there is a strong demand from developers who want to be in this market, and there is a strong belief that if you build it they will come from a tenant standpoint.”
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