$5,250,000
Updated 10 years ago
Off Market

944 Fulton Street

Clinton Hill, Brooklyn | Saint James Place & Grand Ave

5 Rooms3 Beds1,000 Square FeetRental Property

$5,250,000
floors / apts4 / 3
Lot Size20'x100'
Built Size20'x55'
ZoneR7A
Building TypeLow-Rise
RE Taxes$15,705
Price Per SF
$5,250

Building Amenities

  • Voice Intercom

Property Description for 944 Fulton Street

Asking Price: $5,998,000NOI: Approx. $300,000Cap Rate: Nearly 6%Lot Size: 20 by 100Building Size: 4500sqftAir Rights: 3500sqftWelcome to 944 Fulton Street, an elegant four story mixed use townhouse oriented in the exciting Clinton Hill neighborhood of Brooklyn! In addition to its striking facade, this pre-war gem boasts renovations throughout including granite and stainless steel kitchens, hardwood flooring, marble bathrooms, and manicured terraces. Additionally, the building has been equipped with solar panels on the roof resulting in nominal electrical operating costs for the property. Moreover, the building includes a full finished basement. This exquisitely appointed building is conveniently located in very close proximity to the C, S, and G subway trains. Ideal as an investment opportunity, 944 Fulton offers a near 6% capitalization rate. Tenants cover all utilities including water and sewer. The property is comprised of three free market residential units (each of which includes three bedrooms and one bathroom) and one commercial space. The commercial tenant is a well established veterinary facility with a brand new 15 year lease including a 5 year option and 2.5% annual increases. Additionally, the commercial lease includes a corporate guarantee. The commercial lease also stipulates that the tenant covers 85% of the building's real estate tax, increasing the NOI of the property.

Listing History for 944 Fulton Street

Now
05/04/2016
POM by Antonia Watson
Corcoran
02/04/2016
TOM by Antonia Watson
Corcoran

Building Details for 944 Fulton Street

OwnershipRental Property
Building TypeLow-Rise
Service LevelVoice Intercom
AgePre-War
AccessWalk-up
Year Built1930
Floors/Apts4/3
Learn More About the Building

Transit and Citi Bike

Subway

Clinton-Washington Avs
0.15 miles
Franklin Av
0.34 miles
Clinton-Washington Avs
0.43 miles
Classon Av
0.47 miles

Citi Bike

Fulton St & Waverly Ave
0.15 miles
Cambridge Pl & Gates Ave
0.16 miles

Contact Agent

Contact Agent

Clinton Hill | Brooklyn

Quick Profile

Tucked behind the Brooklyn Navy Yard in central Brooklyn is the quiet residential neighborhood of Clinton Hill. Once a strictly working-class neighborhood, Clinton Hill has become known for its elegant brownstones and stately mansions that were built as Manhattanites crossed the East River in the 1920s in search of the supposed health benefits that came from living “on the hill,” which has an elevation of 95 feet. Now you will also find newer luxury apartment and condo buildings interspersed throughout the neighborhood.

The Pratt Institute and St. Joseph College give the area a certain energy that comes from having a college in your town, while it’s leafy streets, some with their original cobblestones, and slower pace attract young families. Millennials and professionals are flocking to Clinton Hill in search of a reasonably priced neighborhood that offers both nightlife and an easy commute to Manhattan. Clinton Hill is a beautiful neighborhood with a suburban feel and firm roots in its past that also offers plenty of urban amenities.

New businesses are showing up in Clinton Hill on a regular basis, adding to the current proliferation of coffee shops, restaurants, and bars. As the population changes, new entertainment and nightlife venues are migrating to the area to meet the demand. Barclays Center is within easy walking distance, offering exciting sporting events and concerts.

All information furnished regarding property for sale, rental or financing is from sources deemed reliable, but no warranty or representation is made as to the accuracy thereof and same is submitted subject to errors, omissions, change of price, rental or other conditions, prior sale, lease or financing or withdrawal without notice. All dimensions are approximate. For exact dimensions, you must hire your own architect or engineer.
OLR ID: 23631TH