Fulton Mall ~60,000 SF Retail/Office Opportunity
522 Fulton Street
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522 Fulton Street is an existing ~60,000 SF building in the heart of Downtown Brooklyn. Situated along the Fulton Mall, the property boasts 85 feet of retail frontage, ~13,640 SF of ground floor retail space, and a ~37,712 RSF of upper floor commercial space currently configured as school and office. Steady income from the upper floors’ school tenant coupled with the ability to completely reposition the retail, create a unique opportunity to capitalize on the unprecedented transformation taking place on the block.
The immediately surrounding area is developing rapidly. Next door at 540 Fulton Street, a proposed 511-foot mixed-use project is being developed into ~96,000 SF of commercial space and 327 residential units; across the street, a full city block was assembled by RedSky to build a ~500,000 SF mixed-use project. In addition, JDS’ proposed tower at 9 Dekalb is just a block away.
Home to strong national tenancy, the Fulton Mall is one of Brooklyn’s strongest retail corridors. One block to the west is City Point, the largest mixed-use project in Brooklyn. The 1.8 million SF center features 675,000 SF of retail space anchored by Target, Trader Joe’s, Century 21 and Alamo Drafthouse. Over 14,000 residential units are in different stages of development in the immediate area, and thousands of new residents have moved to the area in the last few years. This remarkable demographic shift is continuing to transform the neighborhood.