The real estate development firm Adam America, in partnership with investment firm MSD Partners, has acquired a large residential development site in Long Island City, Queens, for $43.5 million.
The pair, who announced the deal Monday, plan to build an 11-story, 210,000-square-foot residential building with 186 units at 22-12 Jackson Ave. The building will include about 5,000 square feet of ground-floor retail space. It will also have about 15,500 square feet of parking.
ODA Architecture and Isaac and Stern are designing the development. Santander Bank is financing the acquisition of the property.
Adam America, a firm co-founded by real estate developers Omri Sachs and Dvir Cohen Hoshen, has been an active builder in the boroughs in recent years. The company has a 21-story condo project planned in downtown Brooklyn and another residential building in Crown Heights, Brooklyn, among its slate of current projects.
