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Federated Sells Two Downtown Brooklyn Buildings

NEW YORK CITY-Federated Department Stores have sold 408-416 Fulton St. and 420 Fulton St. to a group of investors, including Jeff Sutton and Eli Gindi. The investors plan to redevelop the combined 60,000 sf.

By Amy Vaughn | Updated on July 17, 2001

NEW YORK CITY-A group of investors has paid Federated Department Stores $15 million for 408-16 Fulton St. and 420 Fulton St. The investors, including Jeff Sutton and Eli Gindi, plan to redevelop the 60,000 sf combined space into prime retail and office space. They hope to capitalize on its proximity to other major retail chains.

Robert K. Futterman & Associates brokered the deal on behalf of the owner. Barry Fishbach and David Rosenberg, executive vice presidents at RFK, served as the exclusive brokers in the transaction.

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