Invictus Property Advisors identified 304 Van Brunt Street as a Qualifying Residential Site (QRS) under the City of Yes initiative, unlocking additional development potential and making it a standout opportunity for residential builders. This zoning advantage, combined with the momentum surrounding Red Hook, generated strong developer interest and led to a competitive bidding environment.
The timing of this closing aligns with the city’s $3.5 billion Brooklyn Marine Terminal redevelopment plan, which recently cleared a major hurdle. The plan will transform 122 acres of waterfront from Cobble Hill to Red Hook with thousands of new apartments, modern port infrastructure, new parks, and tens of thousands of jobs. This once-in-a-generation investment will further accelerate Red Hook’s evolution into a vibrant, mixed-use hub while preserving its industrial heritage.
The sale of 304 Van Brunt Street underscores how thoughtful site identification and local expertise can position owners to capitalize on emerging market trends. As Red Hook continues to attract major public and private investment, this transaction highlights our team’s ability to bridge zoning insight with market demand to deliver strong results for our clients.
