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1950 Fulton St 1.02 Acres of Commercial Land in Brooklyn, NY 11233
INVESTMENT HIGHLIGHTS
- Prime Corner Development Opportunity
- Strong Residential Demand in Bedford-Stuyvesant
- Universal Affordability Preference (UAP)
- Efficient Layout & Prominent Frontage
- Efficient Zoning
- Proximity to the C Subway Line and the B25 Bus Line
EXECUTIVE SUMMARY
Avison Young, as the exclusive agent, is pleased to offer for sale 1950 Fulton Street (the “Site”) – a full block end with 645’ of wraparound frontage at the intersection of Fulton Street, Ralph Avenue, and Herkimer Street in Bedford-Stuyvesant, Brooklyn. The Site is currently improved by a 19,700 SF retail strip comprising four spaces with three tenants that have termination clauses in place.
The Site is zoned R7D/C2-4, which permits a base FAR of 4.66 for residential/mixed-use, allowing up to ~207,370 ZFA, all of which may be free market, or 5.6x (249,200 ZFA) with a UAP housing bonus. Additionally, the Site sits in a Fresh Zone, which allows a developer to tap a ZFA bonus of up to 20,000 SF for grocery-specific tenants, resulting in a total project of ~269,200 ZFA. There may also be an opportunity to further increase the FAR through an MTA subway bonus.
The Site is zoned R7D/C2-4, which permits a base FAR of 4.66 for residential/mixed-use, allowing up to ~207,370 ZFA, all of which may be free market, or 5.6x (249,200 ZFA) with a UAP housing bonus. Additionally, the Site sits in a Fresh Zone, which allows a developer to tap a ZFA bonus of up to 20,000 SF for grocery-specific tenants, resulting in a total project of ~269,200 ZFA. There may also be an opportunity to further increase the FAR through an MTA subway bonus.
PROPERTY FACTS
| Sale Type | Investment | Property Subtype | Commercial |
| No. Lots | 1 | Total Lot Size | 1.02 AC |
| Property Type | Land |
| Sale Type | Investment |
| No. Lots | 1 |
| Property Type | Land |
| Property Subtype | Commercial |
| Total Lot Size | 1.02 AC |
1 LOT AVAILABLE
Lot
| Lot Size | 1.02 AC |
| Lot Size | 1.02 AC |
Walk Score®
Walker's Paradise (90)
Transit Score®
Rider's Paradise (100)
PROPERTY TAXES
| Parcel Number | 01548-0001 | Improvements Assessment | $1,369,800 |
| Land Assessment | $701,100 | Total Assessment | $2,070,900 |
PROPERTY TAXES
Parcel Number
01548-0001
Land Assessment
$701,100
Improvements Assessment
$1,369,800
Total Assessment
$2,070,900
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1950 Fulton St
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