LES GROUND-UP DEVELOPMENT

Owner

Karl Fischer Architects

JSR Capital

BRODY//AMIRIAN purchased this vacant lot and three-story building in the Alphabet City neighborhood of Manhattan in September 2011 to develop. We propose an eight-story, thirty-three unit rental building. To capitalize on our construction acumen, we plan to develop this underutilized asset into its highest use: a rental building. The acquisition price was below market, and with rising rents in the area, it was a great opportunity. From the time of closing, the project will take a year and a half. Upon completion BRODY//AMIRIAN will look to sell the asset and provide the returns to its investors.

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