After dinner at Grimaldi’s the other night, we noticed a sale sign at 11-15 Old Fulton Street (Between Water and Front Street). I’ve always wondered about them… three vacant townhouses between Grimaldi’s Pizza and Fulton Ferry. According to the realtor Massey Knakal, the owners are selling the properties for $7.5million. It’s a highly visible location with great “potential for condominium conversion or mixed-use rental”. From Massey Knakal:
“Vacant 4 story 21,716 sq ft walkup mixed-use building with proposed plans for 24,812 saleable sq ft. The property will be delivered with Landmarked approval’s to convert the existing buildings to residential apartments and add fifth floor penthouse suites, and retail on the ground floor and basement Located in the landmark district of DUMBO Current C of O of existing building is for residential use & commercial use Highly visible location with 72 feet of frontage on Old Fulton Street. Great potential for condominium conversion or mixed-use rental. Walk to 2 and 3 trains at Clark Street, the A and C trains at High Street, buses, and a few blocks from entrance to pedestrian path on the Brooklyn Bridge. Blocks from Brooklyn Bridge Park and close to all restaurants and shopping in Brooklyn Heights. Asking Price: $7,500,000”
This could be a great opportunity to own a piece of historic property under the Brooklyn Bridge. But is the asking price too high? Any developers out there?
One of these buildings is where the character Vincent, from The Godfather, Part III lived, right? There is a shot in the film showing the exterior of his apartment, and the building is clearly under the Brooklyn Bridge. Anyone else notice this? Am I thinking of the right building?
One of these buildings is where the character Vincent, from The Godfather, Part III lived, right? There is a shot in the film showing the exterior of his apartment, and the building is clearly under the Brooklyn Bridge. Anyone else notice this? Am I thinking of the right building?
I thought it was the corner building where Pete’s Downtown restaurant is. 🙂
I thought it was the corner building where Pete’s Downtown restaurant is. 🙂
It makes sense if you think you could sell the condos at a bit over $1,000/SF. That’s a bit above the top of the market in Brooklyn today. But this arguably a better site than anywhere else in Brooklyn. So would you pay $1,000 SF for a condo in one of these building?
It makes sense if you think you could sell the condos at a bit over $1,000/SF. That’s a bit above the top of the market in Brooklyn today. But this arguably a better site than anywhere else in Brooklyn. So would you pay $1,000 SF for a condo in one of these building?
I actually think this deal works. The kicker is the retail and the penthouse suites. Ideally if you could get a great restaurant you will create more of a market for yourself and potential buyers of finished Condos. I heard a building on the back side of Water Street sold out to European buyers within a less than a week and they averaged approx. $1,000 a SF.
I actually think this deal works. The kicker is the retail and the penthouse suites. Ideally if you could get a great restaurant you will create more of a market for yourself and potential buyers of finished Condos. I heard a building on the back side of Water Street sold out to European buyers within a less than a week and they averaged approx. $1,000 a SF.
you’d be lucky to get 800/sf for those condos.
you’d be lucky to get 800/sf for those condos.
I think this spot has one of the best views of Manhattan in NYC. If a developer brings this building back to its historic look and adds a Penthouse it would be a beautiful project. It is located in the ideal spot between Brooklyn Heights and Dumbo. The Water Taxi and the newly approved park will be 150′ away! Grimaldi’s and the River Cafe are close by. I think it would make a great Condo! Do you think it could get $1000 a sq?
I think this spot has one of the best views of Manhattan in NYC. If a developer brings this building back to its historic look and adds a Penthouse it would be a beautiful project. It is located in the ideal spot between Brooklyn Heights and Dumbo. The Water Taxi and the newly approved park will be 150′ away! Grimaldi’s and the River Cafe are close by. I think it would make a great Condo! Do you think it could get $1000 a sq?
Sure you could get $1000/sf, in 2015.
Sure you could get $1000/sf, in 2015.
I inquired about one of those buildings a few years ago and was told there are severe structural issues with them, and the land they sit on. Something about the water table I think.
Walentas would have long ago snapped them up if they could be salvaged or torn down for a reasonable fee. Too bad, I think that Old Fulton could really become a great gateway for the neighborhood and coming park if those eyesores would go away.
I inquired about one of those buildings a few years ago and was told there are severe structural issues with them, and the land they sit on. Something about the water table I think.
Walentas would have long ago snapped them up if they could be salvaged or torn down for a reasonable fee. Too bad, I think that Old Fulton could really become a great gateway for the neighborhood and coming park if those eyesores would go away.
Does anyone know anything about the restaurant and lot to left of these buildings? How long have they been vacant? Are they for sale?
Does anyone know anything about the restaurant and lot to left of these buildings? How long have they been vacant? Are they for sale?
Last I heard the guys from Grimaldi’s owned it- they’d used it for catering at one point. Worth popping your head in to ask if you are interested. Also can try calling Richard Maura at Dexter Haven properties, he knows everything in the neighborhood.
Last I heard the guys from Grimaldi’s owned it- they’d used it for catering at one point. Worth popping your head in to ask if you are interested. Also can try calling Richard Maura at Dexter Haven properties, he knows everything in the neighborhood.
This is FultonFerry not DUMBO
This is FultonFerry not DUMBO
It technically is DUMBO since the end of it is Old Fulton St. Does anyone think the DUMBO market is getting oversaturated with Condos? What do most people prefer 1 bedroom or 2 bedrooms units? What is the one emenity that everone must have?
It technically is DUMBO since the end of it is Old Fulton St. Does anyone think the DUMBO market is getting oversaturated with Condos? What do most people prefer 1 bedroom or 2 bedrooms units? What is the one emenity that everone must have?
Ideally if you could afford it, I’d say go with a 2 bedroom… gives room to grow. However, the 1 bedroom market is very strong nonetheless. As far as amenities go… in unit washer/dryer is necessary.
Ideally if you could afford it, I’d say go with a 2 bedroom… gives room to grow. However, the 1 bedroom market is very strong nonetheless. As far as amenities go… in unit washer/dryer is necessary.
I’m curious… does anyone have any info on the building at the corner of Plymouth and Washington? The space is currently being used for an art gallery (Smack Mellon). It would be a great coversion project with a couple more floors added, overlooking the park and the city skyline….
I’m curious… does anyone have any info on the building at the corner of Plymouth and Washington? The space is currently being used for an art gallery (Smack Mellon). It would be a great coversion project with a couple more floors added, overlooking the park and the city skyline….
the building at Plymouth and Washington is owned by David Walentas and Two Trees and they did a bunch of renovations to it so that Smack Mellon could use it.
the building at Plymouth and Washington is owned by David Walentas and Two Trees and they did a bunch of renovations to it so that Smack Mellon could use it.
…Because God forbid prime real estate like that be wasted on an art gallery…
…Because God forbid prime real estate like that be wasted on an art gallery…
A washer/dryer in-unit is a luxury in any NYC rental/condo/co-op. I suppose it’s a necessity once you’re used to having it. Remember the article in the NYTimes back in April:
http://www.nytimes.com/2006/04/23/realestate/23cover.html
A washer/dryer in-unit is a luxury in any NYC rental/condo/co-op. I suppose it’s a necessity once you’re used to having it. Remember the article in the NYTimes back in April:
http://www.nytimes.com/2006/04/23/realestate/23cover.html
What do you think of this location for condos? It does have water views and will have park views. It is located between DUMBO and Brooklyn Heights. The commute to work would be real nice with the water taxis so close.
What do you think of this location for condos? It does have water views and will have park views. It is located between DUMBO and Brooklyn Heights. The commute to work would be real nice with the water taxis so close.
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the buildings are in conract and will be closing shortly. Look for very luxurious rentals to come in the near future. This is an excellent location and being sold to a very experienced developer.
the buildings are in conract and will be closing shortly. Look for very luxurious rentals to come in the near future. This is an excellent location and being sold to a very experienced developer.
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I thought it was the corner building where Pete's Downtown restaurant is. 🙂
I thought it was the corner building where Pete's Downtown restaurant is. 🙂
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I want to buy the building but I don’t know what the inside lookes like has anybody been inside because I was thinking of puting a library in there.
Thanks
Bean
I want to buy the building but I don’t know what the inside lookes like has anybody been inside because I was thinking of puting a library in there.
Thanks
Bean