In November of 2014, the former 206-bed nursing home for AIDS patients (dubbed Rivington House) located at 45 Rivington Street, on the Lower East Side, closed its operations. Last year, there were reports that The Allure Group would turn the five-story, 150,000-square-foot building into a nursing home that would be available to all seniors, but now a team of developers has acquired the property for $116 million, according to The Real Deal. The team includes the U.S. branch of China Vanke Co., Slate Property Group, and Adam America Real Estate, and they plan to convert the building into roughly 100 condominium units. A completion date has not been disclosed.
Adam America Real Estate
Over the summer, Adam America Real Estate and MSD Partners picked up a taxi garage at 22-12 Jackson Avenue in Long Island City for $43.5 million. Now the developers have filed applications for their planned residential building.
It was back in May of 2015 that YIMBY brought you a new rendering of the 21-story mixed-use development at the corner of Schermerhorn and Nevins streets in Downtown Brooklyn. Now, thanks to photos sent to us by our friend Tectonic, we can report that 319 Schermerhorn Street’s construction has nearly reached the half way mark.
Last week, Brownstoner brought us a construction update on the seven-story, 74-unit residential redevelopment at 51 Jay Street, in DUMBO, and now YIMBY can announce the expansion project has officially topped out. Its residential units average 1,815 square feet apiece and have commanded one of the highest price per-square-foot figures in the neighborhood, selling at $2,083 per-square-foot. The building is nearly 75 percent sold, as reported earlier, and move-ins are expected sometime next summer or fall. Residents will have a slew of amenities available to them, and 1,333 square feet of retail space is planned on the ground floor. Slate Property Group and Adam America Real Estate are the developers, while ODA Architecture designed the project.
This past summer, steel beam construction began on the 12-story, 38-unit condo building planned at 100 Norfolk Street, on the Lower East Side, but the project ended up stalling out for a number of months until crews recently were able to get back on site. The structure is now rising again and currently four stories up, courtesy of photos by Tectonic. The 53,949 square-foot structure includes 11,244 square feet of commercial space, which was marketed as two units. Five residential units remain for sale and completion is expected in late 2016. ODA Architecture is designing and Adam America Real Estate, Naveh Shuster Group, and Horizon Group are developing.