GFI Realty Services, LLC today announced today that it has been named the exclusive sales agent for 237, 245 & 247 Kent Street, a development site situated in the Greenpoint section of Brooklyn. The site is comprised of three contiguous parcels, two of which are vacant lots and one that is occupied by a vacant warehouse.

The site is zoned M1-1, with a maximum floor area ratio of 1.0, making it ideally suited for commercial/industrial development. GFI Realty Associate Sasha Berg will oversee the marketing of the site, with pricing targeted at $5.5 million.

“There are numerous indicators that Greenpoint is catching up to Williamsburg and this development site is the perfect opportunity for a national retailer to enter into the Greenpoint market,” Berg said. “Major commercial developments are the natural response to all of the high-end residential construction in the area. One example is 209-231 McGuinness Boulevard, located just a block away from the site, a new luxury residential construction with a total of 197 units. Early this year, I also traded 352 McGuinness Boulevard, a mostly vacant multifamily building just a few blocks away, at a notable price per unit.”

The site is situated just off of Greenpoint and Manhattan Avenues, two major commercial corridors in the area which are filled with countless small shops, boutiques, coffee shops and cafés.