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

1215 Fulton Street
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This Development Site property located in NY was sold for $33,601,603 about 2 years ago. The brokers of the deal were Winfield Clifford, Ethan Stanton, Brendan Maddigan, Stephen Palmese, and Michael Mazzara

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.

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Deals
  • Location
    1215 Fulton Street, Brooklyn, New York 11216, United States1215 Fulton Street, Brooklyn, New York 11216, United States
  • Sale Price
    $33,601,603$33,601,603
    $98 PPSF$98 PPSF
  • Area
    343,040 SF343,040 SF
  • Asset Type
    Development SiteDevelopment Site
  • Parties
    5 Brokers, 1 Agency5 Brokers, 1 Agency

Agents

Ethan Stanton

Ethan Stanton

Deals54
Sold$2B

Brendan Maddigan

Brendan Maddigan

Deals80
Financed$2.7B

Winfield Clifford

Winfield Clifford

Deals52
Financed$1.6B

Stephen Palmese

Stephen Palmese

Deals64
Financed$2.4B

Michael Mazzara

Michael Mazzara

Deals50
Sold$1.6B

Agency

JLL

JLL

Agency
Deals5591
Volume$332.6B

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Deal Summary

SALE DATE: 03/16/2022 ADDRESS: 1215 Fulton Street MARKET: Bedford-Stuyvesant ASSET TYPE: Development Site BUYER: EJS Group & Hope Street Capital SELLER: Tower Holdings Group, Time Square Development & The Collective SELLERS REP: @BrendanMaddigan, Stephen Palmese, Ethan Stanton, Michael Mazzara, Winfield Clifford @JLL SALE PRICE: $33,601,603 BSF: 179,340 ~ PPBSF: $187

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1215 Fulton Street

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