He's already said that the film will be released this summer (2012), but I think this must be the first time I've actually heard/read him narrow it down to a specific month.
Minutes ago, Spike Lee replied to a question from a follower on Tweeter, asking him when Red Hook Summer would be released; Spike replied as you can see in the image at the bottom of this post.
As far I as know the film has yet to be picked up by a distributor; certainly nothing's been reported.
Spike could very well have something in development that we don't know anything about, and that will be made public soon enough. Maybe he's in negotiations with a distribution company; maybe he plans to self-distribute it, after all, as he said in a previous interview, he didn't go to Hollywood to help finance the film because he wanted to essentially maintain full control of it, and not have to make compromises on story, characters, etc. So he could very well be continuing with that independent spirit, and will release the film on his own, maybe through some kind of service deal, or taking advantage of AMC's indie solution that's available to just about anyone; I should mention that AFFRM's films have been released exclusively in AMC theaters – early in their releases anyway – via this indie initiative.
Maybe Red Hook Summer will be an AFFRM 2012 release! Yes, why not? The spirit in which Spike made Red Hook Summer is very much a reflection of AFFRM's mission of self-empowerment.
A Spike Lee AFFRM pairing would be a coup.
So I'm calling it here first! AFFRM acquires Red Hook Summer for a summer 2012 release; and no, I don't have any "inside info." This is all just speculation on my part; so don't go spreading rumors that I said Red Hook Summer will be released by AFFRM.
But whatever's in the works for the release of the film, Spike appears quite certain that not only will it be released this summer, but in the month of August.
I saw the film at the Sundance Film Festival last month, where it premiered; and if you haven't read my reactions to it, do so HERE.