November 20, 2015

Chinese Partner with Locals on $50M Brooklyn Buy

News Property News

Real Estate Weekly

China-based apartment giant, China Vanke, has partnered with local developers Adam America and Slate Property Group on a $50 million Brooklyn deal. TerraCRG brokered the sale of 10 Nevins in Downtown Brooklyn which comes with approved plans for the development of a mixed-use project with 184 apartments and retail space on the ground floor.

“In a market dominated by rental units, 10 Nevins is positioned to be one of the largest condo projects in Downtown Brooklyn.” said Ofer Cohen, the founder and president of TerraCRG, who led the marketing effort with Melissa Warren and her team. “By repositioning the approved plans from a rental project to a condominium, the developers are able to capitalize on the tremendous demand for for-sale housing options in the area.”

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