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Documents

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Create an account on the Investor Center to save your search and investment preferences, save and share opportunities, access exclusive documents, and more. More questions? Visit our FAQ. You'll need to sign a Confidentiality Agreement (CA) to access exclusive documents in the Deal Room. Signing the CA means you agree not to divulge or release sensitive information related to this property. More questions? Visit our FAQ.

Key facts

Property description

JLL has been retained on an exclusive basis to represent the sale of 570 Fulton Street, one of the last Affordable NY development sites in Downtown Brooklyn. 

Investment highlights

MULTIPLE DEVELOPMENT SCENARIOS

The site can accommodate a 44-story mixed-use building totaling 225,032 SF above grade. There are also plans for a 26-story as of right residential development with 114,852 SF above grade. Both plans offer the possibility of condo or rental execution for the residential components.

AFFORDABLE NEW YORK

570 Fulton is one of the last vested development sites in Downtown Brooklyn that will benefit from the 421a Tax Abatement. With the Affordable New York program set to expire in June 2022, all other future development projects will not benefit from the 35-year tax program.

UNPARALLELED CONNECTIVITY

• On the same block as the Nevins Street 2, 3, 4, 5 subway station, less than 15 minutes from Wall St.

• One block to Atlantic Avenue/Barclay’s Center 2, 3, 4, 5, B, D, N, Q, R and LIRR.

• Additionally, A, C, G trains are available three blocks away at the Fulton Street and Lafayette Avenue stations.

RAPIDLY EXPANDING MARKET

The Brooklyn Tech Triangle’s influx of office, hotel and retail developments are set to have a substantial economic impact with new construction residential rents achieving $80/SF in Downtown Brooklyn. 7,000 new residences are in the pipeline for Downtown Brooklyn, and will further contribute to increased foot traffic and sustained demand for new amenities, work space and retail.

THRIVING RETAIL

570 Fulton is situated at the intersection of Flatbush Avenue and Fulton Street, two of Brooklyn’s most active streetscapes. The beginning of the Fulton Street Pedestrian Mall is directly across Flatbush Ave and is among New York City’s most active retail corridors. The immediate area is a popular destination for tourists and locals alike due to the Barclays Center, BAM, and Fort Greene Park among other attractions. Hotels, universities, and nationally recognized brand name retailers are mixed between dozens of popular restaurants, grocery stores, bars, and nightlife hotspots.

Last Updated Date: 19 May 2022

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Last Updated Date: 19 May 2022

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The value of trust beneficiary rights fluctuates due to fluctuations in the price of real estate, and there is a risk of falling beyond the investment principal. Real estate prices are fluctuated by changes in the population of the area in which they are located and the number of newly supplied properties, fluctuations in interest rates and exchange rates, changes of tax system, loss/damage due to natural disasters such as earthquakes, deterioration over time, and the discovery of hidden defects such as soil pollution.

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