Mortar Group, a New York-based Real-Estate Development Firm, announced today that it has closed on the acquisition of a new development site at 319 Prospect Place in the Prospect Heights neighborhood in Brooklyn. With construction work slated to begin this summer, 319 Prospect will soon become the home to a new five-story, eight-unit luxury residential development.
With a deep sense of community and historical significance, Prospect Heights is one of the most popular destinations in New York. For the growing and diverse community, the neighborhood offers a well-connected commuting hub with numerous train lines, access to the Long Island Rail Road, and most major transportation arteries. Great schools, trendy eateries, and green spaces keep the neighborhood thriving, while Prospect Park, Brooklyn Botanical Gardens, and Brooklyn Museum serve as a village hub, drawing visitors from all boroughs.
Mortar has worked on many successful real estate projects in the New York City area in recent years. Most recently, the team has commenced work on several new developments throughout New York, namely, 30 Bushwick Avenue and 33 Frost Street in Williamsburg, Brooklyn, as well as North Park Lofts on the Hallett’s Cove Waterfront in Astoria.
