1318 Fulton Street

We are happy to present 1318 Fulton Street, a fully free-market two-family over retail building on a thriving commercial corridor in western Bedford-Stuyvesant. The commercial space is occupied by Copa Cabana Seafood & Brunch, a Caribbean-inspired restaurant/bar that spent ~$300,000 to build out an incredible space with a beautiful backyard for dining and events. Though the existing rent of $6,869/month (inclusive of yard and full basement) is slightly under market, the greater of 3% or CPI escalations present in the original term and the 2026 five-year renewal option will provide for long-term rent upside in an appreciating market. The two floor-through residential units are each 2 BR/1 BA with lots of light and significantly (~20%) under market, which would allow a new owner to increase their return with minimal work. Additionally, the C4-5D zoning entails a residential and commercial FAR of 4.2 (as of right, 5.6 with IH) allowing a future upward and/or backward extension to utilize the nearly 4,000 SF of additional air rights. It’s rare to have both an attractive building with near-term income as well as significant value-add/development potential in the future. This can be purchased individually or with 1337 Fulton Street, a six-family over retail directly across the street. Feel free to reach out with any questions.