Slate Property Group and RWN Real Estate have acquired the 10-story, 33-unit apartment building at 144 East 24th Street, in Kips Bay, for $29 million. The 40,000 square-foot structure will be renovated and reconfigured into a 42-unit property with smaller apartments, likely to accommodate the neighborhood’s growing student population. The small ground-floor retail space will also be expanded. It is currently occupied by Ralph’s Famous Italian Ices, according to The Real Deal.
Slate Property Group
In July, Adam America Real Estate and Slate Property Group were in contract to acquire the development assemblage at 8-16 Nevins Street, in Downtown Brooklyn, and now the team has closed on the purchase, according to Crain’s. The developers paid $47.75 million for the site, and Vanke, a Chinese developer, is partnering to build a 33-story, 150-unit residential building. The tower will total 180,000 square feet, and retail space is also likely planned. Construction is expected to begin early next year, although multiple low-rise buildings must first be demolished.
Late last winter, Slate Property Group and Adam America Real Estate began excavation on their planned 11-story, 78-unit rental building at 275 Fourth Avenue/251 1st Street, in Park Slope, located four blocks south of the Union Street stop on the R train. But now, the developers are turning the residential project into 44 condominiums. Ground-floor retail and health care spaces are still planned, which will measure 4,476 and 300 square feet, respectively. ODA Architecture is designing, and sales are expected to launch in early 2016.
Last year, Slate Property Group won a rezoning for a junkyard at 176 Woodward Avenue in Ridgewood, where they planned an 88-unit apartment building with low-cost space for community groups and artists.
In the last days of August, YIMBY reported on applications for a 14-story, 26-unit residential building at 856 Washington Avenue, in Prospect Heights, and now demolition permits have been approved to knock down the former Green Point Savings Bank building, built it 1928. According to DNAinfo, the permits were approved on October 6th, which means demolition preparations are imminent. The condominium project replacing the bank is being designed by Kutnicki Bernstein Architects and developed by Slate Property Group.