A nonprofit is putting its Fort Greene property on the market as a development site.
570 Fulton Street, located between Flatbush Avenue and Rockwell Place, is a three-story office building. Nonprofit SCO Family of Services, which provides education programs and other services for children and families, has owned the 21,000-square-foot property for nearly three decades; it acquired the building for roughly $500,000 in 1985.
The site has 100 feet of frontage of Fulton Street and zoning that allows for approximately 71,920 buildable square feet of residential, retail, hotel, office or mixed-use space, or up to 86,300 buildable square feet for an inclusionary multifamily development.
TerraCRG is marketing the site, which is adjacent to the Fulton Mall retail corridor and residential developments that followed the Downtown Brooklyn rezoning in 2004, including 42-story project 66 Rockwell Place.
According to Crain’s, the parcel could sell for more than $25 million, especially if an inclusionary housing bonus is incorporated.