CIM Group Looks to Cash In on West Adams with Latest Density Bonus Project

Al Laboz, of United American Land, has expanded his already massive potential development site in Downtown Brooklyn with a $15 million deal for three adjacent mixed-use buildings on the block bounded by Jay, Fulton, Lawrence, and Willoughby streets. This latest acquisition adds another 9,800 square feet of built space and approximately 31,000 square feet of air rights to the assemblage, which now totals nearly 380,000 square feet.

Laboz has been working on assembling this site since 1996, and this latest deal solidifies his position as one of the major players in the rapidly developing neighborhood. The assemblage now includes buildings on the entire block with frontage on both Fulton and Willoughby streets, making it a prime location for a large-scale development project. The developer has spent more than $14.5 million on the three buildings, which brings the total cost of the assemblage to an estimated $200 million.

With this latest deal, Laboz continues to demonstrate his influence in the Downtown Brooklyn area and his ability to secure prime development sites. He has been actively involved in the neighborhood's growth, with his company United American Land owning several properties in the area and developing projects such as the Toren condominium tower.

"Al Laboz is a savvy developer and he knows the value of assembling large development sites in hot neighborhoods like Downtown Brooklyn," said a source familiar with the deal.

Originally reported by The Real Deal.

https://therealdeal.com/new-york/2025/09/22/al-laboz-adds-to-downtown-brooklyn-assemblage-with-15m-deal/