It’s an exciting place to work on new projects, and we look forward to bringing our unique style of residences to the area.
Brooklyn, New York (PRWEB) September 13, 2017
Mortar Development LLC, a New York-based Architecture and Real-Estate Development firm, announced that it has closed on the acquisition of a development property in Greenpoint, Brooklyn.
The site is located at 91 Diamond Street. Shovel ready and starting construction this Fall, the new building will be a five-story, 10 Unit, 15,000 square foot condominium building. Taking advantage of an excellent demand and appreciation for new residences, Greenpoint is one of the fastest growing neighborhoods in New York because of its proximity to transportation, a burgeoning art scene, great restaurants and bars, waterfront parks and close proximity to Manhattan.
“Greenpoint is seeing great growth, and has been attracting thousands of new residents over the last few years,” says Anthony Morena, principal of Mortar Development. “It’s an exciting place to work on new projects, and we look forward to bringing our unique style of residences to the area.”
In recent years, Mortar’s team has worked on over a dozen successfully completed real estate projects in the New York City area. Most recently, in 2017, the developers completed two boutique developments, namely, Altes House in the East Village of Manhattan - and 245 Manhattan Avenue in Williamsburg, Brooklyn. The firm also launched its Mortar Growth Fund on Real Crowd, a popular crowdfunding platform for the real estate industry.
Mr. Morena added, “We believe in adding value to the neighborhood, and this will be the first of several sites we plan to develop in the area.”
About Mortar: Mortar Development LLC represents a premier real estate development and investment management team with over 30 years of collective experience and expertise in construction, real estate development, investments and management. Mortar invests in New York City residential real estate through both ground-up development and property rehabilitation. By leveraging years of development experience with on-the-ground market insight, Mortar capitalizes on underserved and growing residential markets in NYC.
Mortar Development is part of the Mortar family of companies that includes Mortar Architecture and Mortar Capital Management.
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