Mortar Group, a New York-based Real-Estate Development Firm, announced that it has closed on the acquisition of a new development site at 30 Bushwick Avenue. Located at Williamsburg, Brooklyn, construction on the new building will begin Summer 2022, and will become the home to a new eight-story, 24-Unit, 24,000-SF residential development.
30 Bushwick combines the appeal of being located in a popular and well-known New York neighborhood, the downside protection of a low acquisition basis, and the upside of a growing residential Brooklyn neighborhood with excellent access to transportation, vibrant retail corridors, and direct proximity to some of Brooklyn’s primary cultural institutions.
In recent years, Mortar has worked on many successfully completed real estate projects in the New York City area. Most recently, in 2021, the Architect + Development team completed several boutique developments, namely, 91 Diamond Street, as well as 33 Frost Street and 340 Metropolitan Avenue in Brooklyn.
Anthony Morena, Principal and Founder of Mortar, added, “As market prices continue to rise in New York, we have remained focused on working in established neighborhoods… We feel this location is a prime, high-quality area for development, and we are excited to get started on this new venture.”
