Foreclosure of the Week: 931 Fulton Street
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…
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
hey 1:05, if you wanna be a pompous jackass, then why don’t YOU post the actual rent roll so we can all determine if the owner lost it because of poor judgment or maybe escalating energy costs, mandated repairs, etc.?
How bout it wiseguy?
Brownstoner – what is your basis for presuming the rent roll was not sufficient to pay expenses? Until recently (last few years) building such as this did not sell for a prioe above what the owner could not pay his debt service, taxes and maintenance expenses based upon the actual rent roll. If the current owner paid more then that the he or she is a poor business person & deserves to fail. Surely a libertarian such as yourself can understand that. Instead you adopt the r.e. industry mantra that the fault is rent regulation.
uhh…perhaps this particular stretch of town had or has a large concentration of heroin addicts
Does anyone know where the 3 meth clinics are located? (I can tell that there’s 1 near the corner of Classon & Franklin)…and why would all 3 be concentrated in 1 area anyway?
The prospect of Fulton getting cleaned up is a great one. Too dark and too many broken & dingy sidewalks and useless retailers (how do they afford those rents anyway)line it. Can’t believe that its the same street that runs through Fort Greene. And God, yes, after the methadone patients let out, it looks like Night of the Living Dead on Fulton (someone should start dispensing methadone outside of James’ house). Fulton has so much potential, and its status is pivotal to the surrounding areas. All the long talk about grants and development money for Fulton is not panning out…on to some development!
Sale is at 3 pm today at 360 Adams…The people who visit the meth clinics daily by and large do not live or vote in the distict.
Bstoner, where and when is the sale?
I would love to get rid of the meth clinic and so should Ms James. What is she pandering to the meth user vote?
Yes- yes.. I want to force all the poor meth users to go all the way to east new york to get a fix because I am a horrible person who doesn’t care about poor people and their meth needs.
Methadone clinics, of course.
Don’t count on Ms. James doing anything. If the issue does not relate to overdevelopment, she won’t be interested. Plus, she loves poor people and a methadone clinic is a surefire to keep such a presence in the neighborhood.