For anyone who has a stake in the improvement of Fulton Street, today’s foreclosure sale of 931 Fulton should be of some interest. Located at Waverly across from the meth clinic, this corner could use some prettying up. The property that’s up for sale just goes as far as the Cardinal Realty sign and does not include the Nail salon building. The building, which has gorgeous architectural bones, has a number of long-time tenants paying below-market rents; given that fact, it’s hard to guess how much more than the outstanding lien amount of $244,022 it will fetch. While we have no wish to see the tenants displaced, the condition of the building is emblematic of what happens when a landlord can’t extract enough in rents to properly keep up a property…And speaking of the meth clinic, as we understand it, there has not been any meaningful progress on Tish James’ effort to consolidate the three clinics in the area. In our view, this is currently the biggest impediment to lifting the Fulton curse.
931 Fulton Street [Property Shark] GMAP