TerraCRG's Matthew Cosentino, VP of investment sales has been retained as the exclusive agent for the sale of the building at 1082 Fulton St. on the Clinton Hill/Bedford Stuyvesant border. The five-story, 6,390 s/f mixed-use building is located between Classon Ave. and Claver Place. The property recently underwent a complete gut renovation of condominium quality. The building consists of seven free market residential units and a ground floor commercial space. There are two two-bedroom units and five one-bedroom units. The three units on the top two floors are laid out as two two-bedroom and one one-bedroom duplexes. The ground floor retail tenant is Very Polished Lounge & Nail Spa, an excellent tenant for the location. Their beautifully designed space with a fully renovated backyard attests to the growing strength of this retail corridor.
The building renovation includes new plumbing, electric and sprinkler systems, and each unit has its own separate boiler and hot water heater. All units feature stainless steel appliances, granite countertops, wide plank wood floors, exposed brick walls, and brand new luxury baths. The property has a gross rent roll of $234,564/year, with an NOI of approximately $202,000 a year.
"This property is ideally located in the perfect residential and retail location," said Cosentino. "The close proximity to the train, excellent retail foot traffic, and perfect interior renovation makes this a spectacular property." Tags: