At a glance
- Firm: American Development Group, LLC (ADG)
- Principal: Perry M. Finkelman (Founder & Managing Director)
- Focus: Boutique condominium development in Manhattan and Brooklyn, known for pioneering on-site automated/robotic parking
- Frequent partner: Langsam Property Services (Mark Engel), under the "ADG Langsam" joint-venture banner
- Signature buildings in scope: 123 Baxter Street and One48 (148 East 24th Street)
- Source: The Roebling Team at Compass — verified against public records and published reporting. July 2026.
Who American Development Group is
American Development Group is the boutique condominium firm of Perry Finkelman, its founder and managing director. It is a small, lightly-documented shop with a recognizable calling card: automated, robotic parking systems built into modest-scale downtown condominiums — a genuine amenity in neighborhoods where on-street parking is effectively nonexistent. Finkelman is also tied to affiliated parking ventures. (Note: this is the New York firm, not the similarly named homebuilders that operate in Texas or Canada.)
On several projects ADG has partnered with the Bronx-based Langsam Property Services under the "ADG Langsam" name, so the developer role is sometimes a joint venture rather than a solo sponsorship — a distinction worth keeping straight building by building.
Buildings by American Development Group
American Development Group projects already profiled on this site:
- 123 Baxter Street — the mid-2000s Little Italy/Chinatown boutique condominium designed by Adam Kushner, with a full-service amenity package and an on-site robotic parking garage; ADG was the developer (records also name Langsam alongside it)
- 148 East 24th Street (One48) — the terraced Kips Bay/Gramercy condominium with automated parking, developed under the "ADG Langsam" joint venture between Langsam Property Services and American Development Group
Reputation and what a buyer should know
Here the honest read requires care, because ADG has a documented pattern of construction-defect litigation that a buyer's agent should flag rather than dismiss. Per published reporting and court filings, the 123 Baxter Street condominium board sued the developers (including ADG and Langsam) around 2010 alleging negligence, water infiltration, missing fire-stopping, and code violations — a defect-type claim directly relevant to a building in scope. Separate boards at ADG/Langsam projects in Brooklyn brought similar water-infiltration and roofing-defect suits in the same era, tied together by the same plaintiffs' attorney who alleged a pattern; the developer called the claims baseless. These are allegations, and we did not locate published final outcomes, so they should be read as unresolved defect claims rather than proven judgments — but the repetition is a real quality signal. Diligence at any ADG building should center on the offering plan, the sponsor warranty, the reserve fund, and any board litigation or engineering report on water and façade conditions.
The Roebling Team on American Development Group buildings
We track the sponsors behind Manhattan's condominium inventory because a buyer is, in part, betting on the developer's build quality and record when things go wrong. On a developer with a defect-claim history, that diligence matters more, not less. If you're evaluating an ADG building, a 30-minute consultation is the right starting point.
Corey Cohen, Principal · The Roebling Team at Compass 646.939.7375 · c.cohen@compass.com
This developer profile reflects publicly available information — including NYC public records, court filings, and published reporting — and The Roebling Team's transaction experience. It is provided for research purposes and is not legal advice; litigation described here reflects allegations in the public record, and nothing here asserts a final finding of wrongdoing or defect beyond what that record supports. The Roebling Team at Compass does not represent American Development Group. © 2026 The Roebling Team at Compass.