TerraCRG has been retained to exclusively represent the ownership in the sale of 348 Van Brunt Street, a residential development site in Red Hook, Brooklyn.
The property is zoned R5/C1-3 which is well-suited for a user or investor to develop a condo rental or townhouse project in one of the City’s fastest-growing submarkets. The lot is 4,250 SF allowing for 6,375 BSF for a market rate development site or 8,500 BSF with the city’s new universal affordable program. Condo sellouts in the area are selling at north of $1,250/SF and market-rate rentals are seeing as high as $75 a foot in the neighborhood.
348 Van Brunt Street is situated on Red Hook’s most prominent retail corridor. Van Brunt Street is lined with restaurants, bars, cafes, bakeries, art galleries, and additional residential projects in the area. The area is booming with neighborhood favorites like Hometown Bar-B-Que, Red Hook Tavern, Strong Rope Brewery, Café Kestrel, Brooklyn Crab, and more. Food Bazaar is also in proximity to providing convenient access to a renowned supermarket and food court.
Several other retailers within the neighborhood include Tesla, Open Invite, Red Hook Winery, Pioneer Works, Ikea, and more.
The property is just two blocks from the NYC ferry and is also near the BQE – both providing easy access to Manhattan and Queens. The nearest subway is the F-line on the border of Red Hook and Carroll Gardens.
