Mortar Group, a New York-based real estate development firm, has closed on the acquisition of a new development site at 30 Bushwick Avenue in East Williamsburg, Brooklyn. Under new ownership, the building will top out at eight stories, yield 24,000 gross square feet, and comprise 24 rental apartments.
Permits were previous filed with the Department of Buildings in January 2022. At that time, the building was also expected to top out at eight stories but comprise 21 rental apartments and 19,223 gross square feet. MHL Capital Partners LLC was listed as the owner responsible for the development.
“As market prices continue to rise in New York, we have remained focused on working in established neighborhoods,” said principal and founder of Mortar Group Anthony Morena. “We feel this location is a prime, high-quality area for development, and we are excited to get started on this new venture.”
According to the developer, construction is expected to break ground this summer. Renderings of the building have not been released to the public.