Real estate investment firm Madison Capital acquired two adjacent industrial lots in Red Hook for $45 million.
The seller of the combined 160,000-square-foot sites at 688 and 702 Court Street was Pearl Realty’s Jack Guttman, according to property records. The parcels are zoned for industrial and manufacturing, with the ability to build nearly 320,000 square feet. PincusCo first reported the deal.
David Junik of Pinnacle Realty represented both Madison Capital and Guttman in the deal. He declined to comment.