According to The Commercial Observer, the Daten Group has bought a vacant gas station at 840 Fulton Street in Clinton Hillfor $7.4 million, with plans for a rental building.
The developer will likely build a seven-story, 40,000-square-foot building with 38 rental units (20 per cent affordable). The deal also includes 3,464 square feet of air rights acquired from neighboring 848 Fulton and 5,000 square feet of retail space.
The building—which is estimated to cost around $20 million—will be designed by KBA Architects, with Vibe Living handling marketing. Construction is set to begin next year and will be completed by March 2017.
· Daten Group Buys Vacant Clinton Hill Gas Station for $7.4M [NYO]