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427 Fulton St 32,760 SF Retail Building Brooklyn, NY 11201 For Sale
Investment Highlights
- Exceptional development optionality for rental, condominium, or mixed-use programs.
- Location within a Qualified Opportunity Zone creates notable tax advantage potential.
- Situated in a vibrant retail corridor supported by robust market fundamentals.
- Zoning allows for up to 141,780 ZFA and includes attractive City of Yes incentives.
- Immediate access to 10 subway lines across four major stations within one minute.
- No minimum density requirement and no parking required under Inner Transit Zone.
Executive Summary
427 Fulton Street represents a premier residential development opportunity in the core of Downtown Brooklyn. This exceptionally located site offers a 11,815 square foot lot with dual frontage along Fulton and Willoughby Streets, enabling design flexibility and multiple entry points. Developers can capitalize on 118,150 SF (Standard) or 141,780 SF (UAP) of buildable area, providing substantial scale for both rental and condominium programs.
The property benefits from inclusion in both the Qualified Opportunity Zone and Inner Transit Zone, offering significant tax incentives and cost efficiencies. Additional zoning benefits include 485-X Tax Abatement eligibility, no minimum density factor, and no parking requirement, enhancing project feasibility and profitability. The location offers unmatched connectivity, with immediate access to 10 subway lines within a one-minute walk, and seamless travel to Manhattan in under 15 minutes.
Surrounded by a thriving retail corridor that includes Apple, Target, Trader Joe’s, and Whole Foods, along with a well-educated and growing residential base, 427 Fulton stands out as a rare opportunity to deliver a large-scale residential project in one of Brooklyn’s most dynamic markets.
The property benefits from inclusion in both the Qualified Opportunity Zone and Inner Transit Zone, offering significant tax incentives and cost efficiencies. Additional zoning benefits include 485-X Tax Abatement eligibility, no minimum density factor, and no parking requirement, enhancing project feasibility and profitability. The location offers unmatched connectivity, with immediate access to 10 subway lines within a one-minute walk, and seamless travel to Manhattan in under 15 minutes.
Surrounded by a thriving retail corridor that includes Apple, Target, Trader Joe’s, and Whole Foods, along with a well-educated and growing residential base, 427 Fulton stands out as a rare opportunity to deliver a large-scale residential project in one of Brooklyn’s most dynamic markets.
Property Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
Storefront
Building Size
32,760 SF
Building Class
B
Year Built
1970
Tenancy
Single
Building Height
3 Stories
Building FAR
2.77
Lot Size
0.27 AC
Opportunity Zone
Yes
Zoning
C6-4.5/R10 (DB) - C6 districts permit a wide range of high-bulk commercial uses requiring a central location
Frontage
75’ on Fulton St
Exceptionally walkable
100/100
Somewhat drivable
30/100
Exceptional public transit
100/100
Very bikeable
80/100
Nearby Major Retailers
Property Taxes
| Parcel Number | 00150-0006 | Improvements Assessment | $4,327,200 |
| Land Assessment | $1,021,500 | Total Assessment | $5,348,700 |
Property Taxes
Parcel Number
00150-0006
Land Assessment
$1,021,500
Improvements Assessment
$4,327,200
Total Assessment
$5,348,700
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427 Fulton St
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