BROOKLYN, N.Y. (PRWEB) December 20, 2017
Mortar Development LLC, a New York-based Real-Estate Development firm, announced that it has closed on the acquisition of a new site on Eagle Street in Greenpoint, Brooklyn.
Located at 167 Eagle Street, construction on the new building will begin Winter 2018, and will become the home to a five-story, 14 Unit, 14,000 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.
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 several boutique developments, namely, Altes House in the East Village of Manhattan, 167 Devoe Street and 245 Manhattan Avenue in Williamsburg, Brooklyn. In 2017, the firm also launched its first Investment Fund - The Mortar Growth Fund - on Real Crowd, a popular crowdfunding platform for the real estate industry.
Mr. Morena added, “We believe in the growth of the neighborhood, and this site is one of several we plan to develop in the area in 2018.”
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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