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Amazon inks massive lease in Red Hook

(Credit: DH Property Holdings)

Amazon has signed a 336,350-SF lease for a logistics facility at DH Property Holdings and Goldman Sachs’ 640 Columbia Street in Red Hook. The new three-story distribution center is within an hour drive of 13.5 million consumers.

  • Be Smart: Brokers who were marketing the space previously said that rent ranged from $35 to $38 per SF under a triple-net lease for the interiors. And because the truck sizes vary, fleet storage is also priced per foot and runs from $15 to $20 per SF.
  • Flashback: The duo paid $47.5 million for the site in 2018, and subsequently secured $154.8 million in construction financing from J.P. Morgan + Square Mile.
  • Heard on the Street: Amazon Press Release: “These new delivery stations represent Amazon’s unwavering commitment to safety, technological innovations, and skilled teams that are obsessed with delivering for our customers.” [Crain’s+NYPost]

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