Hunter Management Corp., a division of real estate firm Hunter Organization LLC, will helm the project, which is expected to take roughly five years to complete at a cost of approximately $5 million.

"Because of its location in a high traffic area at the corner of Fulton and Broadway, the appearance of the property is extremely important," says Hunter Management president James Pirot. "In addition to the exterior upgrades, we have several infrastructure issues that will be addressed and remedied." The ongoing capital improvement package includes new storefronts, roof replacement, elevator modernization, new exterior lighting and mechanical and electrical upgrades. Montroy Anderson Design Group Inc. is the architect for the project and MGJ Associates is the engineering firm.

The building, which features a subway shopping arcade and basement with storage spaces available, was erected in 1941. It has 63 feet of frontage on Broadway and 162 feet of frontage on Fulton Street.