Updated 7 years ago
Off Market
1101-1107 Fulton Street
Clinton Hill, Brooklyn | Classon Ave & Franklin Ave
29 Rooms14 Beds8 BathsDevelopment Site
$3,500,000
floors / apts3 / 6
Building TypeLow-Rise
RE Taxes$25,299
Building Amenities
- Voice Intercom
Property Description for 1101-1107 Fulton Street
SELLER IS LOOKING FOR THE RIGHT JV PARTNERWith all the development that has been going on in Clinton Hill and Bed-Stuy along the Fulton St corridor, the Seller of the triple parcel lot at 1101, 1103, and 1105-1107 Fulton Street is looking to do a joint venture with the right development team for this prime time corner location. The major aspects of this deal are:- The Seller retains 8,000SF on the first floor and second floor, as well as an additional 4,000SF in the basement -Sellers SF will be utilized as community space including: restaurant, digital studio, office space, and art gallery/event space, as well as residential and a single parking space. -Developer finances the design, construction and build out of all square footage including but not limited to: excavation, underpinning, engineering, architectural design, electrical, plumbing, HVAC, carpentry, tile, drywall, masonry, insulation, soundproofing, and painting finished concrete.Nestled between hip Franklin Ave and cool Classon Ave, this is an incredible opportunity for a savvy investor/developer on the rapidly developing Fulton Street corridor. With R7D, C2-4 zoning, this mixed use property has 80 feet of retail frontage on Fulton Street and wraps around the corner with 108 feet of retail frontage on Claver Place and offers a wide range of possibilities for commercial use and condominium conversion. With 4.2 FAR, this irregular shaped lot has ~25,000 BSF and offers the possibility for expansion. Zoning Analysis estimates 30,000BSF utilizing community and housing variances. One block from the A/C/S trains at Franklin Ave, 5 min to Downtown Brooklyn / Barclays / BAM Arts campus, and just 15-20 min to Manhattan. The venture offers wonderful upside and is ready for renovation. All offers should include: Financials outlining all assets and liabilities, Provide proof of funds, Time frame for closing, Complete Attorney information, Past deal historyPlease contact listing broker for a full list of JV Terms.**Buyer is expected to complete their own due diligence.**
Building Details for 1101-1107 Fulton Street
OwnershipDevelopment Site
Building TypeLow-Rise
Service LevelVoice Intercom
AgePre-War
AccessWalk-up
Year Built1930
Floors/Apts3/6
Transit and Citi Bike
Subway
Franklin Av
0.04 miles
Nostrand Av
0.38 miles
Clinton-Washington Avs
0.45 miles
Park Pl
0.48 miles
Citi Bike
Fulton St & Irving Pl
0.1 miles
Lefferts Pl & Franklin Ave
0.13 miles
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: 73343TH
Find home. Discover happiness.