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New Life for Old Fulton Street Buildings

A new owner is starting renovation at Old Fulton Street buildings that were nearly lost to the ravages of neglect. Photo by Lore Croghan

Eye On Real Estate

Brooklyn Daily Eagle

It looks like there's a revival in the works for three historic rowhouses that were nearly lost to the ravages of neglect.

The city Buildings Department issued permits in the final days of December for renovation work to the new owners of 11-13-15 Old Fulton St. – the latest of a flurry of fix-up permits for the Fulton Ferry Historic District properties.

If you don't know the back story of these beauties in distress you might say So what?

But previous owners, which included an LLC whose president was investor Jacob Deutsch of Monsey, N.Y., let these buildings on the edge of DUMBO deteriorate badly. So badly that the city ordered them vacated in 2010 – and threatened to demolish them if they weren't shored up.

In late December 2011 the new owners paid Deutsch et al. $6.3 million to buy the fragile Old Fulton Street buildings, city Finance Department records indicate. Last May the new people brought in additional investors by selling a 2.9% stake in the properties for $346,500.

A name that shows up in the deeds is Brooklyn real estate investor Abraham Leser. Benzio Beniaker of the Leser Group, whose name is in the Buildings Department filings, confirmed to Eye on Real Estate that work has started inside the buildings.

The properties, in the shadow of the Brooklyn Bridge, predate the mighty span.

Built between 1836 and 1839, they are among the city's few surviving examples of Greek Revival commercial architecture, the Fulton Ferry Historic District designation report says.

 

January 8, 2014 - 6:45pm


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