1017 Fulton Street, Brooklyn, NY
August 17, 2018
Generated Twenty Written Offers to Achieve over $600 per SF – $1,450,000 1017 Fulton Street is a small property with a difficult past, a challenged present and a future that looks bright. Located on a solid retail corridor between Grand Ave and Downing Street in Clinton Hill, it has served as a both a cash flow stream and a business location for the family that owned the property of over 25 years. The family had purchased the property from New York City when distressed shells were selling for pennies on the dollar. In fact, the City provided mortgage financing for the purchase at advantageous rates. The mortgage obligated the family to rehabilitate the property. As is often the case, after decades of ownership, the family eventually became fatigued with managing maintaining the property. At the same time, they decided to shut down the business – a liquor store – they operated in its ground floor retail unit.