Apartments at 46 Old Fulton Street Legalized in Dumbo

46 Old Fulton Street, image from Dumbo NYC46 Old Fulton Street, image from Dumbo NYC

In late 2013, the owner of a four-story building at 46 Old Fulton Street, technically on the Brooklyn Heights side of the street but with Dumbo-esque view of the Manhattan and Brooklyn bridges, put the loft building up for sale.

They didn’t get the $7.8 million they were asking, but at $6.7 million, the property still fetched a healthy $333 per square foot.

And now, the new owner is looking to convert 46 Old Fulton to (legal) residential use.

The alteration permit application, submitted this morning, calls for the 20,000-square foot building to be broken up into around 14,000 square feet of residential space, and 6,000 square feet of commercial. (While the building is theoretically being used for light manufacturing right now, the alteration permit says it seeks to “legalize IMD residential apartments,” implying that the spaces are currently being used for living, though without a certificate of occupancy.)

The latter would come in the form of a ground floor space devoted to an “eating and drinking establishment,” per the Schedule A filing.

The apartments, meanwhile, would be situated on each floor – four relatively modest units on the first and second floors, two larger units on the third floor, and a full-floor penthouse on the fourth. The building covers its entire lot of nearly 4,500 square feet, so that minus a bit of space for mechanicals would be the size of the penthouse unit.

The developer is listed as William Radmin, who works with commercial brokerage Friedman-Roth Realty Services, and which is affiliated and shares an office with Brick Realty Capital. Sokwon Im’s Doric Consultants would be the architect.

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TFC Horizon
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