June 13, 2025
The long-anticipated transformation of East New York just took a major leap forward.
Mayor Eric Adams and several city agencies recently celebrated the opening of 2440 Fulton Street, a brand-new, 400,000 square-foot commercial development in the heart of East New York.
It’s a big moment for the neighborhood—and for real estate professionals paying close attention to where New York City's growth is headed next.
This state-of-the-art building, developed by the Leser Group and NYCEDC and designed by Marvel Architects, is more than just another office space.
It brings together nearly a dozen social service programs under one roof, with over 1,100 Department of Social Services (DSS) employees now working at this location.
That means services like Cash Assistance, SNAP, Medicaid, and Fair Fares are now more accessible than ever for local residents.
But what’s even more exciting from a development and investment standpoint?
This building also features 80,000 square feet of private retail and commercial space, adding valuable storefront opportunities along Fulton Street, Herkimer Street, and Van Sinderen Avenue.
For years, Broadway Junction has been seen as a transit hub with untapped potential. It serves over 100,000 daily commuters across five subway lines, multiple bus routes, and the Long Island Rail Road.
Now, with city agencies like DSS moving in, this area is officially on the map as a growing economic hub.
The opening of 2440 Fulton Street is the first major project under the City Agencies Revitalizing the Economy (CARE) initiative.
The strategy is simple but powerful: place city offices in underserved areas to stimulate local business growth, create jobs, and encourage private development. And it’s already working.
There’s more coming. Just east of Broadway Junction is the upcoming Herkimer-Williams mixed-use project—planned to bring 1,000 affordable homes, 100,000 square feet of industrial space, and 85,000 square feet for community use.
Between city-backed infrastructure upgrades and private developments, the area is expected to generate over $11.6 billion in economic impact over the next 30 years.
As a real estate professional, this is a development worth watching. East New York is no longer just a “someday” opportunity—it’s happening now.
With office jobs, community services, and retail all converging at Broadway Junction, this neighborhood is being positioned as a true live-work hub.
Whether you're looking to invest, develop, or lease space, East Brooklyn just became a whole lot more attractive.
Disclaimer: This content is meant for informational purposes only and is not intended to be construed as financial, tax, legal, or insurance advice.
