REPORTS: Sale of Massive 1K Fulton Building Imminent
Posted by Leo Clark. on
While the much-talked-about 1K Fulton development over in the rapidly developing Fulton Market neighborhood was only recently finished, the developer of the building, Chicago-based Sterling Bay, is already close to selling the mammoth project that’s helping re-define this particular part of the city.
According to reports, California-based American Realty Advisors is poised to purchase 1K Fulton for a jaw-dropping $305 million, which should give Sterling Bay a sizable profit given the original Fulton Cold Storage building was purchased for a mere $12 million back in 2012.
At 531,000 square feet, the deal would mean American Realty Advisors would pay $574 per foot for the fabulous new office building, which of course is now the home of the Chicago-based…
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