$400 million in Red Hook, Brooklyn

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I found the following inspirational story and was wondering if anyone is familiar with Red Hook, Brooklyn?


I grew up in Brooklyn and lived i Brooklyn from the 80's until about 10 years ago and still have family there. Red Hook was an area no one would have suspected would ever increase in value. Then again you can say that about almost all of Brooklyn. There is still some industrial space there but its super expensive now and people only buy it to tear it down and condo it. Its a fun hip neighborhood but like most of Brooklyn really hard to get a deal.