Over a year ago, Forest City Ratner placed their Downtown Brooklyn development site, at 625 Fulton Street, on the market, and now Rabsky Group has agreed to purchase the property for $158 million, according to Commercial Observer. The site contains 600,000 square feet of development rights, and a residential tower is most likely, although plans for the site remain undisclosed. Until last year, the site was home to a seven-story, 359,000 square-foot office building.
A year ago, Lalezarian Properties put a pair of four-story buildings on Charlton Street in Hudson Square on the market for $50 million. No one paid that hefty price, and now principal Kevin Lalezarian has decided to develop the site between Hudson and Greenwich Streets himself.
Jacob Scherman, doing business as an anonymous LLC, has filed applications for a four-story, four-unit residential building at 57 Himrod Street.
Over the summer, medical marijuana company Palliatech signed a lease at 425 Fulton Street, between Pearl and Jay Streets in Downtown Brooklyn, with plans to open a dispensary.
A KFC franchise will likely bite the dust at the corner of Bushwick and Myrtle Avenues in Bushwick to make way for a six-story, mixed-use building. New building applications have been filed to erect a combination of apartments, retail and community facilities at 668 Bushwick Avenue.