Past issues
The Paper in print
RSS feeds
Print edition (PDF)
Email Alerts- The current issue
- Neighborhood Map
- Bay Ridge
- Bensonhurst, Dyker Heights
- Brooklyn Heights
- Downtown, DUMBO
- Carroll Gardens
- Cobble Hill, Red Hook, Boerum Hill
- Fort Greene
- Clinton Hill, Crown Heights
- North Brooklyn
- Williamsburg, Greenpoint, Bushwick
- Park Slope
- Prospect Heights, Windsor Terrace, Greenwood Heights
- GO Brooklyn
- Brooklyn Cyclones
- Not Just Nets
- Police Blotter
- Perspective
- Parenting
- Politics
- Transit
- Podcasts
- The Brooklyn Bride
- Brooklyn Boom
- Classifieds
- Merchant news
- About The Paper
- RSS Feeds
-
$11M to tear down buildings on Fulton
Print this story
digg
del.icio.usA real-estate developer has forked over nearly $11 million for a row of run-down, one-story storefronts near the Fulton Mall — and he’s planning something big (although how big remains to be seen).
Developer Gregg Wolpert bought the three properties, on Lawrence Street between Fulton and Willoughby streets, for $10.75 million last week and hopes to “expand the site,” he said.
The only way to go is up.
The 2004 Downtown Brooklyn rezoning would allow Wolpert to build 80,000 square feet where now there’s only a nail salon, art gallery and hat shop.
“He can build more than 90 condos there,” said Danielle Mosse, an agent with Brooklyn Heights Real Estate. “Trust me, if it sold at $11 million it’s because of the potential.”
Wolpert wouldn’t be the first developer to take advantage of the 2004 rezoning of Downtown Brooklyn, which was intended to accommodate more office space but has instead spurred a residential development boom.
A former New York Telephone Company building at Bridge and Willoughby streets is being converted into 219 luxury apartments.
“This area is really going to become competitive with Atlantic Yards,” said Mosse. “A lot of developers are building there. It’s changing tremendously.”
©2006 The Brooklyn Paper
Enter your comment below
By submitting this comment, you agree to the following terms:
You agree that you, and not BrooklynPaper.com or its affiliates, are fully responsible for the content that you post. You agree not to post any abusive, obscene, vulgar, slanderous, hateful, threatening or sexually-oriented material or any material that may violate applicable law; doing so may lead to the removal of your post and to your being permanently banned from posting to the site. You grant to BrooklynPaper.com the royalty-free, irrevocable, perpetual and fully sublicensable license to use, reproduce, modify, adapt, publish, translate, create derivative works from, distribute, perform and display such content in whole or in part world-wide and to incorporate it in other works in any form, media or technology now known or later developed.
