We're all too familiar with Slate/Adam America in this neck of the woods. In addition to 541 Fourth, the developers have a stalled project at adjacent 535, and a property under construction at 470 Fourth (11th). The 541 property, a group of eight small apartment buildings, amassed & purchased by Anshel Friedman and Aaron Karpen between 2014 & 2015 for $16.5M, was flipped to Slate this summer, for $26.5M.
On a smaller scale, Slate/A.A has been active with its own local flipping, purchasing 310 12th Street, a 20-unit apartment building, for $5.75M in 2014, and selling the property a year later for $9.2M. The sale of 310 may or may not have to do with an investigation by State Attorney General Eric Schneiderman, and violations issued for material false statements concerning rent-stabilized apartments.
Just a few links back to 535 & 541:
Development Flip: Slate/Adam America Buys up Site at 541-555 Fourth
Surprise, Surprise, New Development at Fourth & 15th
More Buildings Acquired at Fourth & 15th, Onward the Boulevard
Wind Causes Damage at 535 Construction Site
Floors to be Demolished at 535 Fourth
Movies, Food on 15th - no new luxury at one end, a zillion at the other
Park Slope Y celebrates nabes' newest Americans (Brooklyn Paper)
Examples of How City Services Privatization Leads to Inequalty are Piling Up (Next City)
Another stunning photo essay by Nathan Kensinger - confronting climate change at Queens community Hawtree Creek (Curbed)
Free books for the rest of your life? An international London bookshop competition (Guardian)
How One School (PS 10) Is Leveling the Playing Field for Middle School Admissions (DNAinfo)
City using eminent domain to acquire property for new school in Sunset Park (Brooklyn Paper)
School site (One More Folded Sunset)
Law That Would Help NYC From Being Strangled by Chain Stores Is Deserted by City Council
(Village Voice)
Remnants of four obselete Brooklyn street names (Ephemeral New York)
Skeptics Say City’s Environmental Studies Understate Damage from Development (City Limits)
Portraits of immigrants at Ellis Island circa 1910 (Guardian)
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