Mortar Arch + Dev Nabs Brooklyn Development Site
The developer plans to begin work on a new, five-story condo development at the Greenpoint site, beginning in the winter of 2018.
By Jeff Hamann
Mortar Arch + Dev has acquired two parcels of land in Brooklyn’s Greenpoint neighborhood, with plans to construct a five-story residential development on the nearly 6,000-square-foot site. Bond Real Estate’s David Kazemi brokered the sale. The property, which will include 14 condominium units and total 14,000 square feet, is planned to begin construction in winter of next year.
Located at 167 Eagle St., the site is situated within half a mile of stations serving both the G and 7 subway lines, offering convenient access into Midtown Manhattan and throughout Brooklyn. Two bus stops, served by three bus routes, fall within a three minute walk of the building’s future location. Interstate 495 is also easily accessible from the nearby Pulaski Bridge. The development site is also in a residential area with numerous retail options, including a Key Food grocery store that is a 10-minute walk away.
“We believe in the growth of the neighborhood, and this site is one of several we plan to develop in the area in 2018,” said Mortar Principal Anthony Morena, in a prepared statement.
Earlier this year, one mile to the south, The Serhant Team announced what was reported to be Greenpoint’s highest-value condo sale with the $4 million transaction of a penthouse unit in a new luxury condominium development.
Image courtesy of Mortar Arch + Dev