Park Lee Fulton
1118 Fulton Street, Brooklyn, NY 11238
Overview
Park Lee Fulton is an 11-unit condo in Brooklyn, with 2 storage units and 1 commercial unit.
- Offering plan: Accepted June 2024 · 272 pages
- Finishes: Engineered wood floors, stone kitchen countertops, wood cabinets, Beko, Bertazzoni and Fisher and Paykel appliances, a washer and dryer in each apartment, Artos bathroom fittings and split-system units for heating and cooling
- Prices: $1,270 a square foot on average, as first offered; $9.79 million in all ($8.46 million when first offered)
- Common charges: $411–$758 a month, the sponsor's first-year estimate
- Developer: Threefold Development; principals Edo Furman
- Sponsor: Tf 1118 Fulton Jv LLC, represented by Eial Girtz, PC
- Subway: 1-minute walk to Franklin Av (C, S); 4 minutes to Nostrand Av (A, C)
- Amendments: 3, the latest in April 2025
- Units
- 11 residential · 2 storage · 1 commercial
- Subway
- 1 min walk to Franklin Av C SNostrand Av A C, 4 min
- Developer
- Threefold Development
- Principals
- Edo Furman
- Average $/sf
- $1,270Homes in Schedule A, as first offered
- Common charges
- $411–$758 a monthSponsor's first-year estimate in Schedule A, July 1, 2024 To June 30, 2025
- Offering price
- $9.79 million total $8.46 million when first offered
- SubmittedJuly 2024
- AcceptedJune 2024
- 3 amendments
- First sale
- Latest sale
Units & Prices
Sales
From city records (ACRIS), through Sep 30, 2026.
First-Year Budget
From our research: NYC Co-op and Condo Tax Abatement: Is It Worth Paying Prevailing Wage? (Board Calculator)
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Property Taxes
The plan's first-year tax estimate, checked against the city's real bills for 9 homes.
Each home's estimate, city bills and tax breaksSee it free →Closing Costs
The buyer pays the NYC and NY State transfer taxes, which a seller usually pays.
All 7 closing costs in the plan, with their pagesSee it free →The Building
Amendments
Amendment 3 Apr 7, 2025
This amendment extends the plan for 6 months, reports the first closing occurred on March 25, 2025, and provides updated unit status and financial information.
- Plan extended for 6 months
- Declaration of Condominium recorded December 13, 2024
- Final Certificate of Occupancy issued December 23, 2024
- First closing (Unit 3R) occurred March 25, 2025; Units 3F and 4R also closed; Unit 2F in contract
- 8 units remain unsold: C1, 1R, 2R, 4F, 5F, 5R, 6F, 6R
- Working capital account balance $2,715.06; reserve account balance $0.00 (should be $6,700.00)
- Commercial Unit C1 currently rented at $3,250.00 monthly
- First-year budget unchanged from original plan
Amendment 2 Oct 3, 2024
Plan extended 6 months, declared effective after 2 units contracted, gas metering and billing changed, and Schedule A and B revised.
- Plan extended 6 months
- Plan declared effective October 23, 2024 on 2 unit contracts (16% of 12 total units)
- One additional unit entered contract after effectiveness
- Single gas meter for building; cooking gas paid by unit owners as common charges
- Revised Schedule A and Schedule B submitted
- Units 2F, 3R and 4R in contract
- First year budget: $72,513.00 common charges and expenses for July 1, 2024 through June 30, 2025
- Schedule A prices increased for 11 homes (median +6.2%): 1R $795,000 → $950,000; 2F $635,000 → $645,000; 2R $670,000 → $695,000; 3F $680,000 → $695,000; ...
Team
- Sponsor
- Tf 1118 Fulton Jv LLC
- Developer
- Threefold DevelopmentReported by web.archive.org
- Principals
- Edo Furman
- Counsel
- Eial Girtz, PC
- Tax estimate
- Metropolitan Realty Exemptions, Inc.Prepared the first-year real estate tax projection
- Construction lender
- Mazia, YuvalLender on the mortgage and building loan agreement recorded October 2018 in ACRIS
- General contractors
- HP Building Management, H Building ManagementHeld the general construction permit on DOB job 322027365
From our research: What Does a Title Agency Do, and How Do You Pick One for a NYC Condo?
Zoning
- Zoning districts
- R7D, R6BThe lot is split between two districts, the largest share first
- Commercial overlay
- C2-4
Today's zoning, from city data (PLUTO 26v2).
Nearby
- 171 & 173 Lefferts Place Condominiumnext door · 16 units · 2020
- Garden City Medical Condominium Inext door · 2014
- 22 Jefferson Avenue Condominiumnext door · 2 units · 2022
- Spencernext door · 4 units · 2020
- 27 Jefferson Condominium0.1 mi · 4 units · 2018
- 1230 Bedford Avenue Condominium0.1 mi · 8 units · 2021
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