701 Fulton Street, Brooklyn, NY for sale

Investment Overview

Newmark has been exclusively retained to arrange for the sale of 701 & 703 Fulton Street, Brooklyn, a value-add mixed-use opportunity in the heart of Fort Greene, one of Brooklyn's most established and sought-after neighborhoods. Situated on the corner of Fulton Street and St. Felix Street, the Property offers a rare opportunity to acquire two connected mixed-use walk-up buildings along the vibrant Fulton Street retail corridor. The three-story buildings total approximately 9,165 above grade square feet across eight units, comprising six residential apartments and two commercial spaces. The residential component consists of six 100% statutory free-market units, while the commercial component is anchored by a corner retail space totaling approximately 3,560 square feet. Several residential units remain below market, presenting significant mark-to-market upside as units are renovated, turned, and re-leased to market rents. The ground-floor retail is available for an incoming operator, allowing new ownership to establish income at market rents and create additional value-add optionality. The Property further offers approximately 5,407 square feet of available air rights as-of-right under its R7A / C2-4 zoning, providing long term development and expansion potential. Situated in the heart of Fort Greene, the Property is surrounded by historic brownstones, boutique retailers, and acclaimed dining destinations. The area is home to iconic establishments such as the Brooklyn Academy of Music, Greenlight Bookstore, Gage & Tollner, and Black Forest Brooklyn, and is within walking distance of the 30-acre Fort Greene Park. The Property benefits f rom immediate proximity to the BAM Cultural District, Downtown Brooklyn, and the major employment and retail hubs surrounding Atlantic Terminal, supporting consistent, seven-day foot traffic along Fulton Street.