The Real Deal New York

Posts Tagged ‘american development group’

  • 1610-dekalb

    1610 DeKalb Avenue in Brooklyn

    The developers of the L Lofts condominium in Brooklyn are facing an $8 million lawsuit for allegedly failing to correct extensive construction defects in the building, including water leaks, defective roof construction and other alleged code violations.

    The suit, which was filed by the L Lofts’ board on June 19 in Brooklyn Supreme Court, targets developers American Development Group, based in West Hempstead, N.Y., and Langsam Property Services of the Bronx. The board alleges, among other things, that the two developers breached their contract and committed fraud and fraudulent conveyance of funds. [more]

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  • smithfield

    Rendering of 215 West 28th Street and Smithfield

    HAP Investment Developers has unveiled its designs for a 117-unit, 21-story apartment building in Chelsea that will replace longtime soccer pub Smithfield. [more]

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  • From left: Perry Finkelman, 215 West 28th Street and Bob Knakal

    From left: Perry Finkelman, 215 West 28th Street and Bob Knakal

    UPDATED, 12:32 p.m., Aug. 22: American Development Group and Langsam Property Services have sold a Chelsea site for about $50 million to a mystery buyer who plans to build a 147-unit residential tower, The Real Deal has learned exclusively. [more]

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  • Park Slope condo launches sales

    November 12, 2012 11:30AM

    The exterior and interior of the Park Union

    Sales have launched at Park Union, a new luxury Park Slope condominium conversion by American Development Group.

    The historic, pre-war building at 910 Union Street between Eighth Avenue and Grand Army Plaza has 15 residences — two one-bedroom, two two-bedroom and 11 three-bedroom homes. It is being marketed by Halstead Property Development Marketing. The units range in size from 735 square feet to 1,905 square feet and in price from $799,000 to $2.29 million. [more]

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  • From left: ERG's Richard Guarino, American Development Group's Brian Lockner and a rendering of 271 Seabreeze Ave.

    A Coney Island development site ready for a 22-story building is hitting the market for $14 million, ERG Property Advisors, the site’s exclusive marketers told The Real Deal.

    The property is located at 271 Seabreeze Avenue, near the Atlantic Ocean and adjacent to the Coney Island boardwalk and Seaside Park. It is zoned for residential, hotel or senior living use, and plans drawn up by owners American Development Group would sustain up to 153 apartments, or 183 extended-stay hotel rooms, and 102 parking spaces. [more]

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  • alternate<br /></a>text
    From left: 159 West 24th Street, 200 Eleventh Avenue and 148 East 24th Street

    Despite city policymakers and environmentalists advocating against motor vehicles on Manhattan Island, several developers are betting that wealthy homebuyers still value their cars, the New York Times reported. And in a bizarre twist, three of the most notable new condominiums with parking stand along 24th Street. In Chelsea, there’s the Millhouse Properties-developed 159 West 24th Street, an eight-story, 24-unit building with eight internal parking spaces. While two are reserved for penthouse buyers, the remaining six will sell for $200,000. Four avenues west along 24th Street is 200 Eleventh Avenue, developed by Young Woo & Associates and Urban Muse, where most of the building’s sixteen units come with a parking space next to the living room. … [more]

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  • alternate text
    From left: Misha Haghani, Perry Finkelman and a rendering of 271-275 Sea Breeze Avenue

    Over a six-day period next month, Paramount Realty USA will host an auction of $50
    million worth of New York commercial real estate.
    Misha Haghani, a principal at Paramount, which was hired by the various owners
    of the six properties to hold the auction, said it’s the largest group of New York City
    commercial properties to be auctioned in at least 10 years.
    The properties include stalled condominiums in Crown Heights, Coney Island-
    Brighton Beach and East Harlem, and mixed-use developments in Sheepshead Bay,
    East Harlem, and Roslyn Heights, LI.
    Headlining the auction is 271-275 Sea Breeze Avenue, near the border of Brighton
    Beach and Coney Island, where American Development Group had planned to erect
    a 151,000-square-foot, 22-story luxury condominium. … [more]

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  • alternate text
    From left: 910 Union Street, Perry Finkelman, and Brian Lockner

    A new developer has taken over a beleaguered condominium project in Park Slope, with plans to add a four-story addition to the squat Depression-era building just outside the tony neighborhood’s landmark district.

    Brian Lockner, head of acquisitions for American Development Group, the developer behind Little Italy’s 123 Baxter and its robotic parking garage, said his firm inked the deal early last month to take over construction of the 18-unit Park Slope project at 910 Union Street from Yachad Enterprises. Lockner said his company is having “very productive conversations with a few banks” and expects to secure financing by mid-summer.

    The three-story brick building, most recently a church and schoolhouse, is one of roughly two dozen properties in Park Slope across from Prospect Park that are not protected by city landmark laws. Owners seeking to alter the exterior of a building within a landmark district must get approval from the city Landmarks Preservation Commission, which can add years to a project as transformative as the one Lockner’s firm is planning. … [more]

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