City under pressure to release financials details of Bedford-Union Armory project

Local officials in Crown Heights are trying to force the city to reveal exactly how much developer BFC Partners will be paid to redevelop the Bedford-Union Armory. Congress member Yvette Clarke, state senator Jesse Hamilton and Assembly members Walter Mosley and Diana Richardson wrote to the city’s Economic Development Corporation, DNAInfo reported. They say the […]

Slate, Adam America land $41M loan for Park Slope rental

Slate Property Group and Adam America Real Estate pulled off a $40.9 million construction loan from Santander Bank for their 130-unit Park Slope rental project at 541 Fourth Avenue. The partners bought the site for $26.5 million, or about $200 per buildable square foot, in June. The property’s sellers, Anshel Friedman and Aaron Karpen, had […]

Slate to sell Bedford-Union Armory stake amid City Hall pressure

Slate Property Group agreed to sell its stake in the Bedford-Union Armory development in Crown Heights to BFC Partners amid pressure from City Hall. The de Blasio administration effectively kicked Slate out of the city-backed project in response to the latter’s role in the Rivington House scandal. Slate bought the Lower East Side nursing home […]