356 Fulton Street
Update
06/16/22
Extell Takes Over Brooklyn Development Site
Extell Development Company has just negotiated a long-term ground lease for an active development site, located at 356 Fulton Street in Downtown Brooklyn. The property was transferred over from The Feil Organization, in an $85.9 million deal brokered by JLL.
Prior to the deal, The Feil Organization had been working to develop a 43-story, mixed-use tower, on the site. If built, it would contain 363 rental apartments, spread across 329,305 square feet. In addition to housing units, there are plans for well over 100,000 square feet of commercial space. Based on this figure, it's likely that a large majority of the space would be allocated for office use. Designed by SLCE and MdeAS, the tower would stand 496 feet tall and total 443,418 square feet.
The leased area consists of at least 5-parcels, including 356, and 360-370 Fulton Street. Ahead of the new tower, The Feil Organization recently demolished all of the structures occupying the project site. As a result, the property is now prepped for excavation. At this time, however, it's unclear if Extell will continue with the approved plans or scrap them to build something from scratch.
