NEW YORK, NY – February 11, 2026 – Ariel Property Advisors announced its 12th development site sale in Brooklyn and Queens over the last 12 months, with four more sites in contract. Together the development sites total close to 1 million buildable square feet and have a value of nearly $200 million.

Ariel Partner Sean R. Kelly, Esq. and Director Stephen Vorvolakos along with Behzad Amiri of Corcoran arranged the latest transaction, a 71,479 BSF development site at 444 Carroll Street in the Gowanus section of Brooklyn for $19 million ($266/BSF).

“The sale of 444 Carroll Street is a prime example of the intense demand for development sites within the rezoned Gowanus neighborhood and all across Brooklyn,” Kelly said. “Ariel’s research shows that Brooklyn development sales surged to $1.8 billion in 2025, a 41% year-over-year increase that underscores developer confidence in the borough.”

Other significant development sales arranged by Kelly and his team include:

      • 245 Duffield Street in Downtown Brooklyn - a 100,056 BSF mixed-use development site for $31 million ($310/BSF).
      • 67-75 4th Avenue and 77 St. Marks Place, Park Slope - development site assemblage for $24 million ($283/BSF).
      • 544-550 Union Street, Gowanus – 21,600 BSF site for a condo development for $9 million ($417/BSF).
      • 224 3rd Avenue, Gowanus – 59,995 BSF site (with 6,000 SF of air rights) for $17.8 million ($296/BSF).
      • 284 4th Avenue, Gowanus – 33,261 BSF residential development site for $7.85 million ($236/BSF).
      • 125 3rd Street, Gowanus – 101,852 BSF mixed-use development site for $29.5 million ($290/BSF).
      • 450 Union Street, Gowanus – 142,500 SF development site for $40.65 million ($285/BSF).

NOTE: For more information about the Brooklyn investment sales market, please see Ariel Property Advisors’ Brooklyn 2025 Year-End Commercial Real Estate Trends Report. .