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12-Story Residential Tower Set to Rise on Fulton Street in Fort Greene

By Alexandra Leon | August 12, 2016 2:51pm | Updated on August 15, 2016 8:53am
 RXR Realty will be developing a 363-unit mixed-use building at 810 Fulton Street.
RXR Realty will be developing a 363-unit mixed-use building at 810 Fulton Street.
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Courtesy RXR Realty

FORT GREENE — A 12-story residential building with more than 350 units is set to rise at the site of a Fulton Street parking lot, the developer announced. 

The new project at 810 Fulton St. will include 363 units — 20 percent of which will be affordable — at the existing 5,000-square-foot lot, a spokeswoman for RXR Realty said. 

The 393,365-square-foot, mixed-use building will feature 314,256 square feet of residential space, plus a 45,874-square-foot basement parking lot and 33,235 square feet of retail space facing Vanderbilt Avenue, Fulton Street and Clermont Avenue, the spokeswoman said.

Amenities at the building will include attended parking for 135 cars with three reserved handicapped spaces, storage for 209 bikes, a laundry room, mail and package rooms, a fitness room, terrace, a children’s room and a lounge, city records show.

The 133-foot-tall building is being designed by Aufgang Architects, records show.

RXR Realty took over the property after purchasing the lease from GFI Development Company for $28.7 million, according to the developer. The new project sits next to a large office building at 470 Vanderbilt Ave. that RXR also purchased from GFI in 2014 for $194.5 million, the developer said.

GFI transferred air rights from 470 Vanderbilt Ave. to the site at 810 Fulton St. and broke ground on part of its foundation last year to qualify the project for 421-a property tax breaks, a program that expired earlier in 2016, according to Crain’s New York

In exchange for the added air rights, GFI agreed to reserve 20 percent of the building's units for affordable housing, and RXR is honoring the agreement, Crain’s reported.

The affordable units will be set at 60 percent of the Area Median Income (AMI).

Construction on the $200 million residential project is expected to begin this fall, and leasing is slated to begin in 2018.

While the project will be RXR’s first residential building in the city, the developer is behind several residential projects across the tri-state area.