In September 2015, we purchased and assembled three adjoining lots located in South Slope in Brooklyn. Shortly after, we formed a joint venture with Adam America Real Estate, the prominent New York developer who has built over 550 units in the last decade. Our development plan details a mixed-use building of approximately 85,000 sq. ft. – 59,000 sq. ft. of living space in 73 units and 4,000 sqf of retail space. The plans also include 11 stories above ground and a basement with 8 parking spaces. This community will include a state-of-the-art gym facility, a premier residential lounge and other community spaces.
We began construction at the end of December 2017. As you can see from the photos below, the ground is broken and structural enhancements are underway. Excavation and foundations are completed and concrete structure works are now underway. Leasing and marketing for the project are scheduled to start in the fall of 2018.