2015 Year in Review - Adam Mermelstein

December 22, 2015 - Spotlights
Adam Mermelstein, Treetop Development Adam Mermelstein, Treetop Development
What was your most notable project, deal, transaction or professional achievement in 2015? In one of the most notable multifamily transactions of 2015, Treetop Development acquired an eight-building multifamily portfolio located in the Flushing and Elmhurst neighborhoods of Queens (seven buildings in Flushing; one in Elmhurst) for $138.8 million. Treetop’s plans for the portfolio follow the company’s larger strategy of investing in strategic capital improvements geared toward modernizing the properties to deliver superior quality housing for middle-income residents at market rate. In doing this, Treetop is able to accommodate the strong demand for middle-class housing in New York City – a market that is drastically underserved – while invigorating neighborhoods for residents. Moving ahead into 2016 (and beyond), Treetop plans to continue to address this market need, following the same acquisition strategy for its upcoming transactions in burgeoning neighborhoods.

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