Developers Grab $20M Brooklyn Site For Mixed-Use Project

Law360, New York (February 6, 2014, 4:50 PM EST) -- Slate Property Group, Adam America Real Estate and Naveh Shuster Ltd. have acquired a group of buildings on Brooklyn's growing Fourth Avenue for $20 million, with plans to build a 107,000-square-foot multifamily and mixed-use development, the parties announced Thursday.

The partnership purchased nine buildings currently standing on the 120-by-105.75-foot corner development site at 470 Fourth Ave.

They plan to tear them down over the next two months to make way for one 12-to-14 story mixed-use development, which will include apartments with luxury amenities as well as...
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