Rabsky Group has acquired, for $68 million, the three-story, 36,000-square-foot commercial building at 635 Fulton Street, located on the corner of Rockwell Place in Downtown Brooklyn. The acquisition expands the developer’s assemblage at 625 Fulton Street by 12,415 square feet, creating a development site measuring a total 74,887 square feet.
Rabsky is currently considering building a tower with either residential or office space as its main use, The Real Deal reported. It would include 150,000 square feet of retail space. The site could accommodate a mixed-use building, with a mix of commercial and residential space, as large as 748,870 square feet, not including zoning bonuses for affordable housing or a public plaza. Prior to the recent acquisition, a 35-story office building, designed by Karl Fischer Architect, was planned.
The parcel at 625 Fulton Street is currently vacant. 635 Fulton Street is expected to be demolished later this year, although demolition permits have not been filed at this time.