The Real Deal New York

Jenel planning 19-story Downtown BK office building

Retail landlord files permits for 174K sf property at 540 Fulton Street

April 29, 2016 12:15PM
By Rey Mashayekhi

540 Fulton Street Brooklyn

The former retail strip at 540 Fulton Street in Downtown Brooklyn

The Dushey family’s Jenel Management filed plans Friday for a new 19-story office building on the former site of a low-rise retail strip in Downtown Brooklyn.

The 174,000-square-foot building at 540 Fulton Street would hold retail space across its first and second floors, as well as the cellar level, according to permit applications filed with the Department of Buildings.

Offices would span the third through 19th floors, while the first floor would also house 420-square-foot bicycle storage room.

Marvel Architects is designing the project, according to the filing. Neither Jenel nor Marvel immediately responded to requests for comment.

Midtown-based JenelTRData LogoTINY, led by CEO David Dushey, acquired 540 Fulton Street in 1981 for an undisclosed price, according to city property records. The site, which is located between Nevins Street and Hanover Place and just off Flatbush Avenue, formerly held a two-story, 26,000-square-foot retail strip that Jenel demolished last year.

The property also sits across from a 500,000-square-foot assemblage that Williamsburg-based real estate firm RedSky Capital is putting together along Fulton Street.

Jenel, which largely focuses on retail properties, acquired a 6,300-square-foot retail co-op at 80 Wooster Street in Soho for more than $25 million last year. The company owns and manages more than 90 properties spanning more than 3 million square feet, according to its website.

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