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Prime mixed-use development opportunity in the heart of Bedford-Stuyvesant. 1163 Fulton Street is being offered with architectural plans for a new residential and retail building on a highly visible Fulton Street corridor. The proposed development consists of approximately 8, 760 gross square feet, featuring 5 residential units above ground-floor retail space, creating an attractive blend of rental income and long-term appreciation potential. The project is situated on a 2, 560 SF zoning lot within a C2-4/R7D and R6B district, allowing for both residential and commercial uses. The proposed building includes approximately 8, 112 SF of residential area and 648 SF of commercial space, with a cellar, upper residential floors, and roof access. Plans call for a modern infill development with approximately 55 feet of building height, generous residential floor plates, and a 30-foot rear yard. The property is located within New York City's Inner Transit Zone, eliminating parking requirements and enhancing development efficiency. Positioned along one of Brooklyn's most active commercial thoroughfares, the site benefits from strong foot traffic, proximity to public transportation, thriving neighborhood retail, and continued residential growth. This is an exceptional opportunity for developers, investors, and builders seeking a shovel-ready project in one of Brooklyn's most dynamic and rapidly appreciating submarkets. Property Highlights: - Development site on Fulton Street in Bedford-Stuyvesant - Proposed mixed-use building with retail and residential components - Approximately 8, 760 Gross SF proposed - 5 residential units proposed - Ground-floor retail component - C2-4/R7D & R6B zoning - No parking requirement (Inner Transit Zone) - 30-foot rear yard proposed - Excellent transportation access and neighborhood amenities - Ideal for rental, condominium, or mixed-use investment strategy
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Our Executive Mortgage Banker:
$1,849,000
William Raveis Real Estate
Phone: 888.699.8876
Contact@raveis.com
Senior Vice President - Coaching & Strategic
William Raveis Mortgage, LLC
Phone: 203.980.8025
Frank.Kolb@raveis.com
NMLS Mortgage Loan Originator ID 81725
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5/6 (30 Yr) Adjustable Rate Jumbo* |
30 Year Fixed-Rate Jumbo |
15 Year Fixed-Rate Jumbo |
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|---|---|---|---|
| Loan Amount | $1,479,200 | $1,479,200 | $1,479,200 |
| Term | 360 months | 360 months | 180 months |
| Initial Interest Rate** | 5.250% | 6.000% | 5.750% |
| Interest Rate based on Index + Margin | 8.125% | ||
| Annual Percentage Rate | 6.069% | 6.110% | 5.932% |
| Monthly Tax Payment | N/A | N/A | N/A |
| H/O Insurance Payment | $125 | $125 | $125 |
| Initial Principal & Interest Pmt | $8,168 | $8,869 | $12,283 |
| Total Monthly Payment | $8,293 | $8,994 | $12,408 |
* The Initial Interest Rate and Initial Principal & Interest Payment are fixed for the first and adjust every six months thereafter for the remainder of the loan term. The Interest Rate and annual percentage rate may increase after consummation. The Index for this product is the SOFR. The margin for this adjustable rate mortgage may vary with your unique credit history, and terms of your loan.
** Mortgage Rates are subject to change, loan amount and product restrictions and may not be available for your specific transaction at commitment or closing. Rates, and the margin for adjustable rate mortgages [if applicable], are subject to change without prior notice.
The rates and Annual Percentage Rate (APR) cited above may be only samples for the purpose of calculating payments and are based upon the following assumptions: minimum credit score of 740, 20% down payment (e.g. $20,000 down on a $100,000 purchase price), $1,950 in finance charges, and 30 days prepaid interest, 1 point, 30 day rate lock. The rates and APR will vary depending upon your unique credit history and the terms of your loan, e.g. the actual down payment percentages, points and fees for your transaction. Property taxes and homeowner's insurance are estimates and subject to change.