Foster-care nonprofit SCO Family of Services has listed a three-story office property in Fort Greene in the hope of fetching up to $25 million. Brooklyn brokerage TerraCRG is marketing it as a development site.
SCO bought the building at 570 Fulton Street for roughly $500,000 back in 1985. The site is in close proximity to the Carlyle Group’s 1 Flatbush rental project and the Dermot Organization’s 66 Rockwell Place project.
A Buddy Lee clothing factory occupied the building for years. It now houses a foster care office that serves about 250 children, according to Crain’s.
Ofer Cohen of TerraCRG said he expected any residential development on the site to fetch $1,300 per square foot in sales prices. [Crain's] — Mark Maurer