Demolition Set To Begin At 470 4th Avenue

A full demolition permit from the Department of Buildings was approved for the homes at 470 4th Avenue on March 7, and crews are already hard at work installing a construction fence around the property.

It was announced in January that Adam America Real Estate, who is also developing the McDonald’s site on 4th Avenue and 1st Street, was in contract to purchase 470 4th Avenue for $20 million.

A rendering for the property, released in February, showed a 14-story brick and glass high rise. Slate Property Group’s Martin Nussbaum, who joins Adam America Real Estate Group and Naveh Shuster Limited in developing 470 4th Avenue, told DNAinfo that “the building will have about 105 apartments, all of which will be market-rate rentals.”