Commercial real estate brokerage TerraCRG has posted the 46 Old Fulton Street building on the market for $7,795,000. The 17,864 square foot, 4 story building has 42 feet of frontage on Old Fulton Street and 50 feet of width on Doughty Street. The building includes 4,466 square feet of basement, totalling 22,330, of which 50% will be delivered vacant. It’s currently configured as 7 commercial units plus basement. There’s 3,466 sf street level retail space on the ground floor.
The 1925 building was on the market about two years ago for $7 million. Commercial Observer points out that a retail boom in the Fulton Ferry District makes this building attractive for retail space: “A Shake Shack is set to open nearby at One Old Fulton Street while existing restaurants in the immediate area include the famed Grimaldi’s pizzeria, River Cafe and Juliana’s. There’s a major redevelopment going on at the nearby Empire Stores, which will have 360,000 square feet of office and 75,000 square feet of retail space.”
Note the sign on the top of 135 Plymouth Street building “Follow the Daily Bugle on Tumblr”. The original sign had “E.W. Bliss Company” on it (no longer on the existing building). The Amazing Spiderman 2 movie will be released in theatres on May 2, 2014.
MNS, the Brooklyn real estate firm published their November 2013 Brooklyn Rental Market Report today (along with their Manhattan Rental Market Report). The report reveals that in Brooklyn, following 13-month highs for studios, and one- and two-bedroom units – average rents fell 3.03-percent in November from $2,698 to $2,617. Although prices for studios (-0.98-percent), one-bedroom (-3.47-percent) and two-bedroom units (-3.95-percent) fell slightly from October, rental pricing has jumped 2.50-percent since this time last year, when overall rents were $2,553. The main drivers of this annual change continue to be studios (+7.6-percent) and two-bedroom units (+2.6-percent).
Andrew Barrocas, CEO of MNS, points to Brooklyn’s Bushwick neighborhood as an area that has garnered significant interest in terms of demand for rental properties. Since November 2012, Bushwick rents have increased 13.5-percent from $1,849 to $2,099. Demand and lack of inventory are driving factors in the uptick in rental pricing in Bushwick.
Some other highlights of the report include the following
The average rent in Brooklyn sits at $2,617 – down from $2,698 in October, but still up from $2,553 in November 2012.
Average prices for studios in Fort Greene increased by 10.6-percent from $1,940 in October to $2,146 in November – a jump attributed to an increase of availability of new studio listings at 80 DeKalb Ave.
Prices for Park Slope one-bedroom units declined 5.2-percent since the previous month from $2,704 to $2,562. The neighborhood offered the most inventory for one-bedroom units in all of Brooklyn.
Two-bedroom units in Downtown Brooklyn dropped from 8.8-percent, from $4,097 in October to $3,735 in November.
Brooklyn Neighborhood Highlights
Bed-Stuy rents have increased 15.6-percent from $1,587 to $1,835, the largest relative increase of any Brooklyn neighborhood in this period.
Increased demand for one-bedroom units in Bed-Stuy have driven prices upwards from $1,591 to $1,847.
DUMBO continues to be Brooklyn’s most expensive neighborhood with average rents reaching $4,093, up 4.3-percent from $3,924 in November 2012.
Studios in DUMBO – up 17-percent in the last year to $3,113 – now out-price nearly all studios in Manhattan, except doorman units in the East Village and Greenwich Village, and non-doorman units in TriBeca.
DUMBO one-bedroom units increased 11-percent since November 2012, from $4,980 to $5,527– this average price surpasses all non-doorman two-bedroom units in Manhattan (except TriBeca) and doorman units in the East Village, Harlem and the Lower East Side.
In Dumbo for November 2013, studios were $3,113 (vs $3,145 in Oct 2013), one bedrooms $3,640 (vs $3,891 in Oct 2013), and two bedrooms $5,528 (vs $5,809 in Oct 2013). Here are the Dumbo price trends over 13 months for studios, one bedrooms, and two bedrooms:
We previously noted that Leaf Medical, a primary care center will open in Dumbo. They are now open and taking appointments in Dumbo. Leaf Medical provides a variety of services from top medical providers, including services such as general pediatric care, pediatric preventative medicine, pediatric procedures, general adult health care, adult preventative medicine, adult procedures, genearal gynecologic health, gynecologic preventative medicine, and gynecologic procedures.
If you’re looking to get a Christmas tree in Dumbo, there are plenty to choose from at the following vendors:
Adam Park trees – in the courtyard next to Dish restaurant on Washington Street. Until 9pm every night.
pj gauthier and sons christmas trees – Plymouth and Adams Street, next to the Brooklyn Bridge Park dog park. Free delivery, until 9pm every night.
Peas & Pickles (55 Washington Street, corner of Washington and Front Street).
You can also check out the Dumbo Holiday Tree Lighting. The DUMBO Improvement District is sponsoring the 8th Annual DUMBO Holiday Tree Lighting Ceremony on Thursday, December 12 from 6-7pm in the Pearl Street Triangle. See dumbofirepit.com for more information on the festivities and events.
DUMBO’s First Thursday Gallery Walk is today, December 5 from 6-9pm. From the Dumbo BID:
DUMBO’s First Thursday Gallery Walk is December 5 and we’ve got your guide to the robust line-up of openings, performances and cultural activity right here on the DUMBO Decoder!
This month, we wish a happy sixth anniversary to Klompching Gallery! Stop by to check out Pierdom, a comprehensive and stunning survey of Britain’s 19th Century pleasure piers by British photographer Simon Roberts.
All First Thursday events are open to the public; most events listed below are free. Local bars and restaurants also get in on the action: AlMar gives you a Peroni with an order of meatballs; Olympia Wine Bar offers $4 beer and $5 house wine, and Superfine features $3.50 select tap beers, $3.50 well cocktails and $3 Bud/Bud Light. Check out a full list of food and drink specials from neighborhood favorites like at DUMBO.is/Community.
Plus, we invite you to join us again next week for the DUMBO Holiday Tree Lighting. Festivities take place on Thursday, December 12 from 6-7pm in the Pearl Street Triangle.