Jones Lang LaSalle (“JLL”) has been exclusively retained to arrange the sale of 306 Water Street (the “Property” or “Site”), a prime boutique residential development site in the highly desirable DUMBO / Vinegar Hill neighborhood of Brooklyn. This strategically positioned site features a 50’ x 100’ lot (5,000 SF) with an existing 5,000 SF single-story building positioned for redevelopment. 306 Water Street offers flexibility as either a rental development, benefiting from 485-X tax abatement incentives, or as a condominium project driven by strong fundamentals and deep market demand in this coveted waterfront neighborhood. Zoned R6B, the Site offers 10,000 ZFA (Standard) or 12,000 ZFA (UAP) for development, providing an excellent opportunity for a boutique residential project. The site also offers the opportunity to build two 25’ townhouses which remain one of the most sought after developments.