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# Development Merry-Go-Round For 275 4th Avenue Condo Project
- URL: https://bklyner.com/development-merry-go-round-275-4th-avenue-condo-project-parkslopestoop/
- Published: 2015-11-17T15:00:42.000Z
- Updated: 2016-03-01T16:05:54.000Z
- Author: Donny Levit
- Tags: 275 4th Avenue, 4th avenue development, Adams America, Slate Property Group, Vanke, #API-Imported

![275 4th Avenue](/content/images/wp-content/uploads/2015/11/2754tha-702x503.jpg)

275 4th Avenue, rendering by Moso Studio/ODA Architecture. (Courtesy of Moso Studio/ODA Architecture)

By now, it’s certainly not news that an oddly-modern, high-priced building will be going up on 4th Avenue. And 275 4th Avenue (between 1st Street and Garfield Place) certainly isn’t the first project — 271 4th Avenue is[ planned to happen right next to it](/blog/development/renderings-for-new-building-at-271-4th-avenue-revealed/).

The approach to how one can address development here [has been a subject of debate](/blog/real-estate/how-do-you-solve-a-problem-like-4th-avenue/) for quite some time.

The [former spot of a McDonald’s](/blog/real-estate/the-rental-building-thats-replacing-mcdonalds-on-4th-avenue/) was slated to be a [75-unit high-end rental building](/blog/real-estate/the-rental-building-thats-replacing-mcdonalds-on-4th-avenue/) with all the trappings of the newer luxury residents; the roof deck, private gym, tenant lounge, and the seemingly requisite retail space that sits on the ground floor.

[According to YIMBY](http://www.yimbynews.com/2015/11/new-developer-finances-11-story-44-unit-condo-project-at-275-fourth-avenue-park-slope.html?utm%5Fsource=YIMBY+News&utm%5Fcampaign=5bc081605a-YIMBY%5FNews%5F11%5F11%5F2015&utm%5Fmedium=email&utm%5Fterm=0%5Fd76c6a6290-5bc081605a-137534757&ct=t%28YIMBY%5FNews%5F11%5F11%5F2015%29), [Slate Property Group](http://www.slatepg.com/?ref=bklyner.com) and [Adam America Real Estate](http://adamamericare.com/?ref=bklyner.com) — the previous developers — sold the building last month to [Vanke](http://www.vanke.com/en/?ref=bklyner.com), a Chinese developer. Instead of a rental building, 275 4th Avenue will now be an 11-story, 44-unit condominium building.

According to the [Commercial Observer](https://commercialobserver.com/2015/11/chinas-vanke-takes-33m-bank-of-ozarks-loan-for-park-slope-condo-development/?ref=bklyner.com), Vanke has become the largest residential real estate developer in China. The company has taken out a $33 million loan and plans to begin selling units in early 2016\. [Yimby reports](http://www.yimbynews.com/2015/11/new-developer-finances-11-story-44-unit-condo-project-at-275-fourth-avenue-park-slope.html?utm%5Fsource=YIMBY+News&utm%5Fcampaign=5bc081605a-YIMBY%5FNews%5F11%5F11%5F2015&utm%5Fmedium=email&utm%5Fterm=0%5Fd76c6a6290-5bc081605a-137534757&ct=t%28YIMBY%5FNews%5F11%5F11%5F2015%29) that the completion of the building is expected in the third quarter of 2016.

In 2012, [Wall Street Journal reporter Robbie Whelan](http://www.wsj.com/search/term.html?KEYWORDS=ROBBIE+WHELAN&bylinesearch=true&ref=bklyner.com) said he believes the newer architecture on 4th Avenue has contributed to “[canyon of mediocrity.](http://www.wsj.com/articles/SB10001424052702303703004577472753921529304?ref=bklyner.com)” How much has changed in the last three years since Whelan’s declaration?