Seven-Story Mixed Use Building Coming To Fulton & Vanderbilt
Developer The Daten Group plans to turn property at 840 Fulton Street (at Vanderbilt Avenue) into a seven-floor residential and retail building, according to The Commercial Observer.
The corner lot, which currently holds a gas station, was reportedly sold to the group from previous owners Fulvan Realty LLC on September 30 for $7.4M. Plans are for a 40,000 sq ft building designed by KBA Architects, which will contain 38 units (20% affordable) and 5,000 sq ft of retail space.
“There is a tremendous demand for residential in this area,” The Daten Group’s Craig Rosenman said in an Observer-published statement. “With its close proximity to public transportation into Manhattan, this site will be highly desirable for both residential and retail tenants.”
The build is scheduled to start in March 2015 and take approximately two years, with a total cost of $20M. A seven story building, this one with condos, is slated for a parking lot two blocks north on the corner of Waverly as well.