The Real Deal New York

Adam America ramps up development with 7 Brooklyn projects

Buildings across borough are either rentals or condominiums

June 06, 2014 01:10PM

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From left: Omri Sachs, Dvir Cohen Hoshen and 500 Sterling Place rendering

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

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