Old Fulton Street Townhomes Under Contract

November 30th, 2007

According to the Massy Knakal website, the previously mentioned townhomes on Old Fulton Street (near Grimaldi’s Pizza) is under contract. The buildings have been on the market for almost a year and was listed for $7.5million and reduced to $7.0million. According to a previous comment, the buildings have some structural issues and would have to be fixed to prepare for re-development.

The plans call for a residential rental project with the addition of one floor. A source, who wished to remain anonymous, familiar with the deal stated to DumboNYC that there will be a mix of 1 and 2 BR apartments with high end finishes. The construction will most likely begin in approximately 6 months, and plans are being finalized. The townhomes were sold to a “very experienced developer”.

Previously: {Three Vacant Buildings on Old Fulton Street, 18Jan07}
{Massey Knakal Realty}

Filed in Fulton Ferry Landing, Old Fulton Street, Real Estate at 12:17 pm
Comments
  • V.H.
    Charles, Are you guys going to fix that lean in the building facade? (1st building from the right, just below the 'for-sale sign')
  • Charles
    The buidlings contrary to public belief dont have several structural issues. The buildings are actually very sound and this has been confirmed by several engineering reports.
    The buildings will not be torn down but converted into a beautiful rental project which will compliment the developing area.
  • there is more to this story th
    i have lived on this block for the last decade. the buildings do not have "some structual issues" they have severe issues, including a creek or undisclosed size of water constantly moving through the basement levels of both buildings. no one has bought it due to this problem. second, if you look from the brooklyn bridge you will see a ton of scrap metal that has been thrown in between the buildings, this came after the last developed tried and failed. he thouhght a new floor would be cool too...but the city code was not for it. i would hate to see them developed, i like the block empty. but who knows, considering all the other monstrosities being erected in this neighborhood (ie the ugly nyu looking buildings with cheap chinese red brick and green windows!!!) then anything is possible.
  • BrooklynLove
    great news. keep moving forward.
  • I think they were on the market (possibly for rent?) for years with Kalmon Dolgin (sp?) before Massey Knakel took the listing
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