Adam America Plans Six-Story Rental in the Broadway Triangle
Developers of big Gowanus project 470 4th Avenue, Adam America, Slate Property Group and Israeli-based Naveh Shuster Limited, are moving into south Williamsburg with plans for two plots. The three developers purchased 120 Union Avenue for $15,500,000 this week, and are set to close on a site across the street at 100 Union Avenue for $6,000,000 by…
Developers of big Gowanus project 470 4th Avenue, Adam America, Slate Property Group and Israeli-based Naveh Shuster Limited, are moving into south Williamsburg with plans for two plots. The three developers purchased 120 Union Avenue for $15,500,000 this week, and are set to close on a site across the street at 100 Union Avenue for $6,000,000 by the end of the year, The Real Deal reported.
The group plans to spend $65,000,000 to build a six-story rental development with ground floor retail at the first address. The 75,000-square-foot building will hold 100 rental units and 2,000 square feet of shops.
Aufgang Architects and Meshberg Group will design the project, which will rise on the wedge-shaped 26,000-square-foot lot. The now-vacant property was previously home to a car repair shop. It’s located in the mostly industrial Broadway Triangle, where a city effort to construct affordable housing failed because of lawsuits alleging discrimination.
The developers intend to construct a six- or seven-story building with 40 units at 100 Union, which also used to house a car repair shop. Both developments could take advantage of 421-a tax abatements on property taxes. TerraCRG repped both the buyer and seller in the deal.
Adam America, Slate to Build $65 Million Williamsburg Rental [TRD] GMAP
Photo by Christopher Bride for PropertyShark
Another company that had no reason doing business. Can’t say I’m sorry to see them go… Morristown Towing is the company I always use.
OMG I don’t even care, I hate Knights Towing so much, good riddance. I know my grievance might be more with the city than them, but still, these private towing companies under contract with NYPD are basically extortion rackets.
Do a search for “DVIR COHEN HOSHEN” (owner if Adam America) and “turkey taxman” to see an article in an Israeli newspaper on the checkered financial history of Mr, Hoshen.