EJS Group & Hope Street Capital Acquire Development Site In Bedford-Stuyvesant For $33.6M

A development site located at 1215 Fulton Street in Bedford-Stuyvesant has been sold in a closed transaction. The property, with a total square footage (BSF) of 179,340, was acquired by EJS Group & Hope Street Capital. The sellers, Tower Holdings Group, Time Square Development & The Collective, were represented by Brendan Maddigan, Stephen Palmese, Ethan Stanton, Michael Mazzara, and Winfield Clifford from JLL. The sale price for the development site was $33,601,603, resulting in a price per square foot (PPBSF) of $187.

Summary of transaction details

• Property Type: Development Site
• Transaction Amount: $33,601,603
• Address: 1215 Fulton Street
• Market: Bedford-Stuyvesant

EJS Group & Hope Street Capital, as the buyers of the development site, have made a significant investment in the Bedford-Stuyvesant market. The sellers, Tower Holdings Group, Time Square Development & The Collective, were represented by Brendan Maddigan, Stephen Palmese, Ethan Stanton, Michael Mazzara, and Winfield Clifford from JLL. This transaction demonstrates the active real estate market and the appeal of development sites in Bedford-Stuyvesant.