China Vanke joins 33-story DoBro condo project

Chinese giant partnering with Adam America and Slate

New York /
Nov.November 04, 2015 05:15 PM

Adam America Real Estate and Slate Property Group are teaming with Chinese real estate giant China Vanke to build a 33-story condo tower in Downtown Brooklyn.

The partnership closed on the acquisition of a development site at 10 Nevins Street, first reported by The Real Deal, for nearly $48 million, according to property records filed with the city.

Together, they plan to build a 150-unit, 180,000-square-foot residential tower on the property, which they purchased from Israel Neiman and a family of investors tied to the Colibri Group. A TerraCRG team led by Ofer Cohen and Melissa Warren brokered the transaction.

The development will be the second deal that Adam America, Slate and Vanke have worked on together this year, according to Crain’s. The Chinese firm acquired a residential development site at 251 1st Street in Park Slope from Adam America and Slate earlier this year and subsequently hired the two Midtown East-based firms to manage the process of building a 44-unit condo building at the property.

Adam America is building another condo project near the 10 Nevins Street site, with plans for a 23-story, 79-unit development at 319 Schermerhorn Street. Adam America and Slate have also co-developed Brooklyn residential projects such as 51 Jay Street in Dumbo and 120 Union Avenue in East Williamsburg. [Crain’s]Rey Mashayekhi


Related Articles

arrow_forward_ios
7 DeKalb Avenue with Avanath Capital Management CEO Daryl Carter and Daniel Brodsky (Brodsky, Avanath Capital, Getty)
Brodsky selling DoBro apartments for $100M
Brodsky selling DoBro apartments for $100M
From left: Adam Altman, Martin Nussbaum, Brian Cooper, Joe Koicim
Photos: Inside Slate Property Group’s holiday party at Casa Cipriani
Photos: Inside Slate Property Group’s holiday party at Casa Cipriani
30 Front Street and 593 11th Street (StreetEasy, Google Maps)
In election week, Olympia Dumbo emerges as winner
In election week, Olympia Dumbo emerges as winner
Pink Stone's Richard Ohebshalom with 180 Nassau Street (Rich Ohebshalom, Google Maps, Getty)
Pink Stone faces foreclosure on DoBro rental building
Pink Stone faces foreclosure on DoBro rental building
Eli Karp, Abraham Leifer, 291 Livingston Street (Linkedin, Getty, Gene Kaufman Architects)
Abraham Leifer faces foreclosure on Downtown Brooklyn hotel
Abraham Leifer faces foreclosure on Downtown Brooklyn hotel
From left: Slate’s David Schwartz and Martin Nussbaum with 62 and 68 Hanson Place
Slate acquires Fort Greene development site from Salvation Army
Slate acquires Fort Greene development site from Salvation Army
NYU president Andrew Hamilton and 3 Metrotech Center (NYU, JLL)
NYU buys MetroTech Center office building for $122M
NYU buys MetroTech Center office building for $122M
Goldman Sachs' David Solomon and 15 Brooklyn Park Drive (Streeteasy, Getty)
Goldman Sachs buying $90M Brooklyn Heights apartments
Goldman Sachs buying $90M Brooklyn Heights apartments
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...