The synthesis and characterization of a novel dibrominated 1,3,5-tristyrylBODIPY dye is reported, and its potential utility as a singlet oxygen photosensitizer and optical limiting material is assessed. The main spectral band lies in the therapeutic window, and there is a moderately high singlet oxygen quantum yield making the dye potentially suitable for use in biomedical applications and as an optical limiting dye at 532 nm. The optical limiting parameters are comparable to those reported previously for 3,5-distyrylBODIPYs, which suggests that mixtures of 3,5-distyryl and 1,3,5-tristyryl compounds that are formed in Knoevenagel condensation reactions could be used for this application. Theoretical calculations are used to assess the effect of 1,3,5-tristyryl substitution. A smaller red shift of the main spectral band is observed upon styrylation at the 1-position than is the case with the 3,5-positions due to there being smaller MO coefficients at this position, limiting the utility of this structural modification method for shifting the main BODIPY spectral band further into the therapeutic window.