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.”
This is a prime commercial location that with some investment to update the interior, could be profitable. The Property Shark listing for 46 Old Fulton Street shows a tax bill of $34,351.