Big Empty Lot on Fulton Sells for $9.2 Million

An unnamed developer has snagged the large vacant lot on the corner of Fulton and Waverly in Clinton Hill for $9,215,000. Brokers at Azad Property Group told us that the 12,000-square-foot lot at 882 Fulton sold for $186 per square foot. That price is nearly double what we predicted back in March, when we guessed it would go for $5,500,000 or $100 per square foot.

Zoning allows for up to 41,148 buildable square feet of development on the property, which is currently a parking lot. It also comes with an inclusionary housing bonus that allows for 13,316 square feet of affordable housing, increasing the potential development size to 54,864 square feet. The sale hit public records on December 20. The deed shows that the seller was White Memorial Chapels and the buyer an LLC headquartered at 520 Madison Avenue in Manhattan.

A New Residential Building in Fulton Street’s Future [Brownstoner]