Fulton Street Filene’s Basement a No-Go?

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It’s looking like plans for a 40,000-square-foot Filene’s Basement/Syms on the Fulton Mall may not be realized. Yesterday Syms and Filene’s filed for bankruptcy protection, saying stock would be liquidated and nearly 50 stores would close. The Downtown Brooklyn outpost of the retailer was supposed to open early next year at 490 Fulton Street, a building that Crown Acquisitions bought for more than $60 million in 2010 and has been gut renovating. Obviously this is not great news for Fulton Street, since it means another big vacancy for the corridor at a time when quite a bit more retail space is appearing in the form of CityPoint, which has yet to make an announcement about any tenants. The most recent news about 490 Fulton was that Express has signed a lease for a 10,000-square-foot store in the building. GMAP

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