NEW YORK | 356 Fulton Street | 538 FT | 43 FLOORS

[chris08876]

Credit: Michael Young via NYY

[Busy Bee]

The Gage & Tollner building and the mansard roof one next door will look so good with this new tower. They picked the perfect block to clear off the garbage and leave the gems.

[chris08876]

Credit: abot

[NYguy]

https://www.pincusco.com/extell-feil-pay...andmarked-building-in-downtown-brooklyn/

Extell, Feil pays $7.7M to JJ Operating for air rights from landmarked building in Downtown Brooklyn




August 4, 2025

[NYguy]

Not sure how much this will change with the addition of air rights.

[NYguy]

We’ll see how much plans are altered when new filings follow…


https://brooklyneagle.com/articles/2025/...y-air-rights-over-gage-tollner-for-7-7m/

Extell and Feil buy air rights over Gage & Tollner for $7.7M


August 5, 2025

EXTELL DEVELOPMENT and the Feil Organization paid $7.7 million to the Jemal family’s JJ Operating for 30,735 square feet of air rights from the landmarked 372-374 Fulton Street in Downtown Brooklyn, home to Gage & Tollner restaurant, reports Pincus Co. Priced at $250 per square foot, the rights will support a 363-unit, 443,418 square foot project at 356 Fulton St.

[NYguy]

The nearby 205 Montague development will be nearly 800 ft (792 ft), which is pretty good for this side of DT Brooklyn. Hopefully with the extra air rights and a redesign, they will push for something as high or higher on this site. This tower will also be just a few blocks up from the new Brooklyn jail.


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The new 141 Willoughby is converting to mostly residential, so maybe that will signal a change here to drop the planned office space in the lower floors. On the other hand, I could see the City itself leasing a couple of office floors here, so who knows.


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[Busy Bee]

Really excited about that Montague building. Should be awesome.

[NYguy]

^ We shall see.

[NYguy]

https://www.bisnow.com/new-york/news/cap...upply-12b-to-nine-extell-projects-130828

Extell Lands $1.2B In Equity From Hedge Fund For 9 Projects — Including 1.8M SF Disney Redevelopment


September 05, 2025
Sasha Jones

Downtown Brooklyn’s Fulton Street

Extell signed an $85.9M ground lease in 2022 to take over 356 Fulton St. from The Feil Organization, creating a partnership between the two developers for a Downtown Brooklyn skyscraper.

The developers have continued to expand their control on the block between Red Hook Lane and Smith Street. They now own at least eight parcels on Fulton Street. The two spent $7.7M in July to transfer additional development rights to the project, according to public records.

Feil originally proposed a 43-story, 475K SF building for the site. The development would have had 421 apartments, 30% of which would have been set aside as affordable under the now-expired 421a program.

Now, according to the TASE filings, that project may expand to 600K SF.

[chris08876]

Rabsky, Spencer Equity take over major DoBro development from Extell - Developers plan 500-unit resi project at 356 Fulton Street

A Downtown Brooklyn project has changed hands for the third time in a decade — and is getting bigger.

Simon Dushinsky’s Rabsky Group and Joel Gluck’s Spencer Equity Group took over the long-term ground lease at 356 Fulton Street from Gary Barnett’s Extell Development in a $39 million deal, property records show.

The frequent partners picked up the site, plus two neighboring parcels and air rights, in a $56 million deal, according to a filing on the Tel Aviv Stock Exchange, where Gluck has raised multiple rounds of debt financing. They intend to purchase more air rights in the coming weeks, per the filing.

The pair plan to develop a massive residential project with about 200 condos, 299 rental units and 20,000 square feet of commercial space at a cost of about $400 million, per the TASE filing. Valley National Bank provided a $31.5 million loan for the purchase, which was first reported by PincusCo.

The development is down the street from another massive mixed-use project Dushinsky and Gluck are building at 625 Fulton Street. That 35-story, two-tower project has 1,098 units and retail space.

The Brooklyn site has changed hands multiple times in recent years. In 2015, the Feil Organization acquired the three-story building at the site from Capital One for $43 million, then pieced together a seven-parcel development site. In 2021, Feil submitted plans for a 363-unit residential building. The plans called for 421 apartments, 30 percent of them affordable under the 421a program.

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TRD

[Doubleu1117]

So I guess this is the site as of now? They took over the main lot as well as the same two neighboring buildings Extell had acquired?

[Busy Bee]

It would be pretty neat for them to acquire the corner property next to One Boerum Place and span over Red Hook Lane with the base of the structure.

[Doubleu1117]

Looks like the Feil Organization (who was leasing to Extell and now to Rabsky/ Spencer) owns the entire highlighted area except for 375 Fulton in teal. So I wonder exactly what the plan is here, seems like they only took over the Red Hook Lane side.

[chris08876]

Credit: Michael Young via NYY