2440 Fulton Street
Update
07/12/22
Developer Lands $201.9M Loan for Ocean Hill Commercial Project
Developer, , has just obtained a $201.9 million loan for an approved, 6-story commercial project, set to rise at 2440 Fulton Street in Brooklyn's Ocean Hill neighborhood. Issued by UMB Bank, this influx of capital will be used to fund all construction costs from start to finish.
A majority of the building will cater to the city's resurging workplace demand, yielding approximately square feet of Class-A office space. Around 218,000 square feet of this will be occupied by NYC's Department of Social Services and Human Resources Administration. Roughly 1,100 employees will be spread out across floors 3-6.
As for the rest of the structure, the remaining 18,600 square feet of office space will be available for lease by private tenants, and the bottom two floors are set to contain square feet of retail space. Plans also call for an enclosed, sub-surface parking garage, with a 323 vehicle capacity.
The new development will replace a two-story commercial building at the site, which totals around 110,000 square feet. The lot is bound by Fulton Street, Van Sinderen Avenue, and Herkimer Street, sitting just steps away from the Broadway Junction subway hub.
Designed by , 2440 Fulton will stand feet tall and total square feet. Building permits have already been filed and the existing structure is soon to be demolished.
