Brooklyn-based developer Adam America has seven new-building projects in the pipeline in the borough.
The project closest to completion is a 77-unit rental building at 500 Sterling Place. Prices will begin at $2,000 per month. Amenities include private parking spaces, a fitness center and a gaming room. Halstead Property Development Marketing is handling leasing and marketing.
Other rental buildings in the works include 247 North 7th Street, with 169 units; 180 Franklin Avenue, with 118 units; 470 Fourth Avenue, with 110 units; and 275 Fourth Avenue, with 78 units. It also has a 74-unit condominium project at 51 Jay Street.
Omri Sachs and his partners are former principals of Adama Holding Public, a publicly traded development based in Eastern Europe, the New York Daily News reported. Sachs began scouting properties in New York in 2010, and paid $6.8 million for the Sterling Place site two years later. [NYDN] — Mark Maurer