423 Fulton Street trades for $9.5M

Overview

Midwood Investment & Development bought 423 Fulton Street in Downtown Brooklyn for $9.5 million, according to Commercial Observer, which cited broker KSR. A deed dated July 10, 2026 records the same $9,500,000 price, with 423 Fulton RC LLC, care of Midwood Management Corp, as the buyer.

The property is a four-story office and retail building on the corner of Fulton and Pearl streets, opposite the former Macy's at 422 Fulton Street. Panda Express occupies the ground-floor retail space and Staywell Medical Group the office space, per Commercial Observer.

The seller was BNN Fulton Flushing Owner LLC, which Commercial Observer describes as an LLC comprising several parties, including real estate investor Ralph Braha and the Nakash family, owners of Jordache Enterprises. KSR's Albert Sultan and Joseph Ash brokered the deal for both the buyer and the seller entity. Midwood is described as a New York City-based real estate development and management firm.

Commercial Observer reported that Midwood's exact plans for the property are unclear. The sale comes as the former Macy's across the street is slated for redevelopment into a five-floor retail and amusement destination called BKX.

The sale puts a Fulton Street corner building across from the former Macy's, soon to become BKX, into the hands of a New York developer. It adds to the transaction activity around Downtown Brooklyn's retail corridor.

Parties Involved 4 recorded

Counts and combined values are computed from Hush Street’s own published Deal records only. “Combined” is the total value of the transactions a party appears on, not capital deployed by that party, and two parties on the same transaction each reflect its full amount. Not a career or market total.

Marks shown are Hush Street editorial monograms, generated from each party’s recorded name — not official company logos.

Property & Project