Old pals act produces a cutting edge team: Azi Mandel & Adam Mermelstein, general partners TreeTop Development LLC.Led by general partners, Azi Mandel and Adam Mermelstein, TreeTop Development, LLC (Logical Link Control) See "LANs" under data link protocol. LLC - Logical Link Control has quickly earned a reputation in the residential real estate arena for creating cutting-edge projects in neighborhoods emerging as desirable new addresses. "The strength of Treetop Development has been our progressive approach to residential development," explained Mandel. "We are constantly seeking out new and challenging projects that will become signatures for surrounding communities. We're determined to think out of the box." The story of TreeTop Development can be traced back to two high school friends who combined compatible business philosophies to create a development company committed to innovative ideas. Azi Mandel launched his career in the fall of 2001 by accepting a position with a Manhattan syndicate led by Marc Karasick--a well-known real estate investor A real estate investor is someone who actively or passively invests in real estate. An active investor may buy a property, make repairs and/or improvements to the property, and sell it later for a profit. who has owned such trophy buildings as the Bank of America
Bank of America (NYSE: BAC TYO: 8648 ) is the largest commercial bank in the United States in terms of deposits, and the largest company of its kind in the world. Building in San Francisco San Francisco (săn frănsĭs`kō), city (1990 pop. 723,959), coextensive with San Francisco co., W Calif., on the tip of a peninsula between the Pacific Ocean and San Francisco Bay, which are connected by the strait known as the Golden . Adam Mermelstein jumped right into the real estate investment field after graduating Yeshiva University Yeshiva University, in New York City; mainly coeducational; begun 1886 as Yeshiva Eitz Chaim, a Jewish theological seminary, chartered 1928 as Rabbi Isaac Elchanan Theological Seminary and Yeshiva College; renamed 1945. in 2001 by buying and flipping rental properties. By the age of 21, he had acquired a portfolio of 600 rental units scattered throughout Newark and East Orange, NJ. Their paths would cross again when Mandel, while overseeing a number of large, complicated deals that included the acquisition, renovation and relaunching of commercial and residential properties throughout New York City New York City: see New York, city. New York City City (pop., 2000: 8,008,278), southeastern New York, at the mouth of the Hudson River. The largest city in the U.S. , would occasionally be presented with opportunities that he felt weren't right for the syndicate. For these transactions, he would call his old high school friend, Adam, whom he knew was aggressively seeking new deals. It wasn't long before the two began working together. "We never thought we would start our own company," recalled Mermelstein, "but we got along very well together and both had very similar business views. After our first couple of joint projects, we decided to launch TreeTop Development in June, 2005. Our plan was to start slowly, but before we knew it, we had seven projects underway." Presently, the partners are keeping busy with numerous developments in New York City and along New Jersey's famed Hudson River Hudson River River, New York, U.S. Originating in the Adirondack Mountains and flowing for about 315 mi (507 km) to New York City, it was named for Henry Hudson, who explored it in 1609. Dutch settlement of the Hudson valley began in 1629. "Gold Coast." Among the projects underway in the Garden State are two new-construction luxury condominium buildings rising on Jackson Street near Hoboken's historic central downtown district. "We're looking to bring the Williamsburg chic and modern look to Hoboken with buildings that feature more glass, floor-to-ceiling windows and unconventional finishes," Mandel points out. For example, Ariel Square, a four-story building rising on the former site of a C-Town supermarket that had been abandoned and razed raze also rase tr.v. razed also rased, raz·ing also ras·ing, raz·es also ras·es 1. To level to the ground; demolish. See Synonyms at ruin. 2. To scrape or shave off. 3. , features 21 condominium residences with an exterior design that includes a traditional brick-and-concrete facade with modern aluminum accent details. Interiors are modern and cutting edge. TreeTop has also brought its unique flair to The Emsee, a four- and five-story building between Fifth and Sixth Streets that features 12 condominium residences. "These buildings are rising in one of the last-tapped residential areas in Hoboken and will help redefine an entire city street that has been mired mire n. 1. An area of wet, soggy, muddy ground; a bog. 2. Deep slimy soil or mud. 3. A disadvantageous or difficult condition or situation: the mire of poverty. v. in neglect and disinvestment Disinvestment 1. The action of an organization or government selling or liquidating an asset or subsidiary. Also known as "divestiture". 2. A reduction in capital expenditure, or the decision of a company not to replenish depleted capital goods. Notes: 1. ," Mr. Mermelstein points out. The company will also be developing several new projects within Jersey City's emerging Arts District
The Arts District , a 13-block area of industrial buildings and warehouses near the waterfront being converted to a vibrant, pedestrian friendly live/work district. "We're also staying true to our roots with new developments in New York City," Mermelstein added. "In Williamsburg, Brooklyn, we're currently renovating two buildings which will introduce more than 70 upscale rental homes to the market, and have begun construction on two luxury for-sale condominium buildings in Williamsburg and Greenpoint." The success of TreeTop Development has allowed the company to branch out into several new product lines and geographic areas. "We're projecting more than $50 million in revenue this year for our current projects," said Mermelstein. "We're also looking to launch a fund in 2007 that will raise capital for new developments." |
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