Stroock Advises Red Hook Container Terminal in Plan to Restore South Brooklyn Maritime Facility as Major Shipping Hub
New York (May 11, 2018) — National law firm Stroock is advising Red Hook Container Terminal in its agreement with the New York City Economic Development Corporation to reactivate the South Brooklyn Marine Terminal as a major shipping hub. Red Hook Container Terminal, which will serve as the terminal operator and stevedore of the facility, is partnering with Industry City on the reactivation plan.
The transformed terminal will be called Sustainable South Brooklyn Marine Terminal and will provide more than 250 jobs in the near-term with the potential for significantly more in the future. The deal between the city and the Red Hook/Industry City includes a long-term lease through 2054. SSBMT will reactivate 64.5 acres of the terminal, moving over 900,000 metric tons of material annually through the port and eliminating over 11,000 truck trips a year. Specific new uses for the facility include waste paper recycling and export, the importation of lumber, salt, and aggregate material, container-on barge-operations, and project cargo, among other activity that will support local businesses, New York Harbor and the regional waterfront.
The Stroock team that represented Red Hook Container includes Ross Moskowitz, John Ziefert, Karen Scanna and Richard Madris.
Stroock has advised on numerous transformational projects throughout New York City within the past year, including Essex Crossing, a nine-parcel, six-acre development site on Manhattan’s Lower East Side; Bronx Point, an ambitious project on a long-vacant site along the Harlem River that will include 1,045 affordably- priced residential units, and TF Cornerstone’s 1.5 million-square-foot destination on two City-owned sites along Long Island City’s East River edge.
Stroock’s 85-member national real estate practice, led by Jeff Keitelman and Brian Diamond, has advised on structuring and financing transactions that have reshaped the nation’s metropolitan areas. Among recent client matters bearing Stroock’s national fingerprints are 10 Hudson Yards, one of the largest real estate transactions in NYC; the redevelopment of the former Washington Post site, in the center of the nation’s capital; 1285 Avenue of the Americas, one of the largest real estate transactions in the U.S.; South Florida Logistics Center, one of the area’s largest industrial deals in South Florida; and Kips Bay Court, one of the largest NYC multifamily transactions.
Stroock provides strategic transactional, regulatory and litigation advice to advance the business objectives of leading financial institutions, multinational corporations and entrepreneurial businesses in the U.S. and globally. With a rich history dating back 140 years, the firm has offices in New York, Los Angeles, Miami and Washington, D.C.