Doe Fund pays $11M to Paul J. Cooper Center for homeless center site in Bedford-Stuyvesant

The Doe Fund through the entity 510 Gates Avenue Housing Development Fund Corp paid the Paul J. Cooper Center for Human Services $11.1 million for 510-16 Gates Avenue in Bedford-Stuyvesant. The deal closed on May 15, 2020, and was recorded on May 21, 2020. The transaction consists of 1 parcel, including the tax class office building with two to six stories (O2). The property is 32,883 square feet. The parcel(s) have total development potential of 36,397 square feet.
The average sale price per square foot is $305.

The Doe Fund won a bidding process in 2019 from the city for a 22-year, $307 million contract to provide homeless services at 510 Gates Avenue. The last time the property sold was October 15, 2010, for $5,000,000.
The DOB issued a major alteration (A1) initial temporary certificate of occupancy for the building on August 10, 2012.

Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA. link