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Brokerage
Posted: September 8, 2014
Edelkopf of EPIC secures $1 million sale of 1158 Fulton Street
EPIC Commercial Realty, a full-service commercial investment brokerage firm, arranged the sale of 1158 Fulton St., a mixed-use building in Bedford-Stuyvesant. The property was sold off-market for $1 million by Yona Edelkopf, CEO of EPIC.
Located between Bedford and Franklin Aves., 1158 Fulton St. is a four-story building consisting of ground-floor retail space, which was delivered vacant, and three residential units. The residences are all three-bedroom apartments and were still occupied at the time of purchase. The property sits on a 2,000 s/f lot and comes with an additional 8,400 s/f of development rights.
"This property is in a great part of Bed-Stuy and reaps all the benefits of Fulton Street's retail sector," said Edelkopf. This deal offered plenty of upside for our buyer with the air rights and vacant retail unit allowing for additional income opportunities. Overall this was a great deal for all parties.
The seller was Zach Burrus and the buyer is Aaron Green. The property is one block from the John Hancock Playground and is within walking distance to the Franklin Avenue station of the Shuttle train and the Nostrand Avenue station of the A and C subway train.
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