The Real Deal New York

Abraham Leser buys Bed-Stuy property for $33M

Fulton Street development site offers 155,000 buildable sf

July 02, 2015 12:50PM
By Rey Mashayekhi

2440 Fulton Street in Bedford-Stuyvesant

2440 Fulton Street in Bedford-Stuyvesant

Brooklyn developer Abraham Leser acquired a commercial building in Bedford-Stuyvesant with 155,000 buildable square feet for $33 million, according to property records filed with the city Thursday.

The development site at 2440 Fulton Street is home to a two-story, 110,000-square-foot commercial building. The property, located in Bedford Stuyvesant’s Ocean Hill neighborhood, spans from Fulton to Herkimer streets along Van Snider Avenue.

The building’s tenants include the Julia M. Nicholson Leadership Academy, House Calls Home Care and Alhambra Day Treatment Center.

Ocean Hill, a subsection of Bedford-Stuyvesant, is sandwiched between Bushwick to the north, East New York to the east and Crown Heights and Brownsville to the south.

No permits have yet been filed for a new building on the site, nor the demolition of the existing structure. The seller of the property is local investor Aryeh Good of Fulton Center LLC, who confirmed the deal and the transaction price.

Leser could not be reached for comment. The developer’s recent deals include a 230,000-square-foot residential development in Borough Park and the acquisition of a Murray Hill assemblage for $26.5 million.