Brooklyn will soon see a major addition when real estate firm Adam America builds a 21-story condo on their recently acquired development site in Downtown Brooklyn.
Adam America and Naveh Shuster Group plan to construct an 87,445-square-foot condominium on the site that is currently an empty lot located on the border of Boerum Hill and Downtown Brooklyn at 319 Schermerhorn Street.
Dvir Cohen Hoshen, co-founder of Adam America, said in a statement that the location couldn’t be anymore ideal as it’s only a stone’s throw away from the area’s major draw Barclay’s Center, which has significantly strengthened the neighborhood’s real estate market since its inception in 2012, according to Crain’s.
The project, whose cost to Adam America has yet to be revealed, will be part of the area’s 14,000 apartments scheduled to flank the neighborhood in the coming months, but with their’s still standing out of the crowd by being the sole condo sales option amongst them.
“Developers see all these units as a validation of the strength of these markets right now,” Hoshen added. “At the same time, there haven’t been that many condo projects in the area, and the ones that have gotten built have done very well.”
A one-bedroom will average 650 square feet, two-bedrooms will average 845 square feet, and three-bedrooms will average 1,195 square feet. The building is also planning a penthouse that is reportedly about 1,553 square feet, according to Curbed.