TreeTop Development | The Real Deal New York

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TreeTop Development

500 Frank W Burr Blvd., Suite 47
Teaneck, NJ 07666
(973) 622-0073
Website
TreeTop Development

TreeTop Development is a real estate investment firm with holdings mainly in its home state of New Jersey but also in Manhattan and states in the Midwest and Southeast. The firms approach is to identify emerging neighborhoods and create signature anchor properties, then build around those properties with continued investment in that neighborhood. Such properties include multifamily properties in West Harlem and an $82 million purchase of a Rego Park apartment building. The firm has invested heavily in Brooklyns Greenpoint neighborhood, as well. TreeTop has also been a big investor in Newark, building or buying up large residential buildings in the city from 2008 onwards. In 2014 TreeTop bought a multifamily high-rise apartment building in Philadelphia for $47.3 million. In 2015 the firm dabbled with raising funds from Israeli investors via the Tel Aviv Stock Exchange, but eventually TreeTop pulled out.


05/25/18
...giant is purchasing a total of 428 apartments from Treetop Development and the Weinroth family in three separate transactions, which are all expected to close...

05/21/18
...sale of 94-25 56th Avenue in Elmhurst to Treetop Development, the only deal in the borough to break the $10 million mark. The city’s...

04/12/18
...Queens and Adam Mermelstein UPDATED, 1:55 p.m. April 13: Treetop Development has sold its Elmhurst apartment complex to Zara Realty for $56.5 million, according to property...

03/21/18
...nucleus is Manhattan,” said Adam Mermelstein, whose firm Treetop Development is an active rental developer in the Bronx. “And from there, the neighborhoods spread...

03/02/18
...E Real Estate Holdings, Fairstead Capital, Vanbarton Group, Treetop Development, Akelius Real Estate Management and Emerald Equity Group. There are also firms known for...

...nucleus is Manhattan,” said Adam Mermelstein, whose firm Treetop Development is an active rental developer in the Bronx. “And from there, the neighborhoods spread...

02/22/18
...investors have largely faded from view. Stalwarts like Treetop Development and Black Spruce Management, for example, have quieted down their shopping sprees. “The buyers...

02/14/18
...Rosenberg, Gideon Asset Management’s JoJo Chehebar and Treetop Development’s Adam Mermelstein were among others in attendance. Headquartered in the ultra-Orthodox Jewish enclave...

02/09/18
...a pair of mixed-use South Bronx buildings from Treetop Development at 445 and 414 Gerard Avenue, a 20-story, 216-unit apartment building on Coney Island from iStar...

02/08/18
...in the marketplace,” Adam Mermelstein, managing member of Treetop Development, said Thursday morning during a panel discussion hosted by Ariel Property Advisors. Mermelstein said...

02/07/18
...rental complex known as the Sand Castle to Treetop Development for $135 million, and Related Companies is planning a pair of new buildings in the...

02/05/18
...in Flushing for $115 million. Other notable sales included Treetop Development’s $135 million purchase of 711 Seagirt Avenue in Far Rockaway and Madison Realty Capital’s...

01/29/18
...the park,” said Mandel, co-founder of New York-based Treetop Development with Mermelstein. “You open the treasure chest and money comes pouring out.” The partners...

01/19/18
...of 131-01 39th Avenue (Credit: Google Maps and Treetop Development) Astoria and Long Island City might be the darlings of the Queens real estate...

01/16/18
...Rendering of 414 Gerard Avenue (Credit: Woods Bagot) Treetop Development is slightly shifting its plans for the South Bronx. The company announced last year...

01/12/18
...borough’s first transaction above $100 million. That was Treetop Development’s $135 million purchase of a 924-unit rental complex at 711 Seagirt Avenue in Far Rockaway...

01/02/18
...to a $97.5 million loan from Signature Bank to Treetop Development for their complex at 711 Seagirt Avenue. Treetop purchased the four-building rental complex in Far...

11/21/17
...Seagirt Avenue UPDATED, Nov. 28, 3:45 p.m.: Treetop Development picked up a four-building rental complex in Queens’ Far Rockaway neighborhood from E&...

11/21/17
...mid-market New York City investment sales last week, Treetop Development sold off a row of Harlem walk-ups and Solil Management picked up a Turtle...

11/02/17
...million, and in April, they paid $58 million to Treetop Development to add two Flushing rentals with 181 units between them to their portfolio...

10/24/17
...same month, Pinnacle bought two Flushing rentals from TreeTop Development for $58 million. Earlier this month, it bought a 23-unit building in Sunset Park for...

05/23/17
...Denman Street, 132-57 Sanford Avenue, 132-25 Maple Avenue Treetop Development restructured its debt on three multifamily Queens buildings with a $54.7 million loan from ACORE...

05/22/17
...mid-market New York City investment sales last week, Treetop Development sold three Hamilton Heights rentals for $14 million and Crown Acquisitions bought a five-story walk-up...

05/10/17
...El Dorado, approximately $57.6 million Buyer: Pinnacle Group Seller: TreeTop Development Brokerage: Rosewood New Jersey-based TreeTop Development sold this pair of neighboring rentals on Sanford...

04/28/17
...a pair of elevator buildings in Flushing from Treetop Development for $57.6 million. The properties, at 132-40 and 133-17 Sanford Avenue, traded for a little...
  • Event Sales
  • Address 133-21 Sanford Avenue
  • Neighborhood Flushing
  • Borough Queens
  • Square feet 74,007
  • Price $ 27,650,000
  • Price per foot $ 373.61
notes
The 6-story, 89-unit, mixed-unit building in Flushing was sold for $27.7 million.
  • Event Sales
  • Address 132-40 Sanford Avenue
  • Neighborhood Flushing
  • Borough Queens
  • Square feet 83,430
  • Price $ 29,870,000
  • Price per foot $ 358.02
notes
The 6-story, 94-unit building in Flushing was sold for $29.9 million.
  • Event Sales
  • Address 556 Lefferts Avenue, 570 Lefferts Avenue
  • Neighborhood Flatbush
  • Borough Brooklyn
  • Square feet 105,000
  • Price $ 25,000,000
  • Publication Date 04/01/2017
  • Event Date 02/15/2017
  • Party 1 Fred Leist, Ivan Leist
  • Party 2 Treetop Development
notes
The two multifamily properties were sold for $25 million.
  • Event Sales
  • Address 417 Gerard Avenue
  • Neighborhood Mott Haven
  • Borough Bronx
  • Square feet 9,816
  • Price $ 5,000,000
notes
The development site was sold for $5 million.
  • Event Sales
  • Address 417 Gerard Avenue
  • Neighborhood Mott Haven
  • Borough Bronx
  • Square feet 9,816
  • Price $ 5,000,000
notes
The development site sold for $5 million.
  • Event Sales
  • Address 94-26 56th Avenue
  • Neighborhood North Corona
  • Borough Queens
  • Square feet 187,800
  • Price $ 40,700,000
  • Price per foot $ 217.00
  • Publication Date 10/01/2016
  • Event Date 08/15/2016
  • Party 1 Mydac Realty
  • Party 2 Treetop Development
notes
The rental building sold for $40.7 million.
  • Event Sales
  • Address 273 West 131st Street
  • Neighborhood Harlem
  • Borough Manhattan
  • Square feet 59,880
  • Price $ 14,800,000
  • Price per foot $ 247.16
notes
The multifamily residential building sold for $14.8 million.
  • Event Financing
  • Address 132-40 Sanford Avenue
  • Neighborhood Flushing
  • Borough Queens
  • Price $ 118,000,000
notes
The company secured a $118 million loan for the package that also includes 132-25 Maple Avenue, 132-45 Maple Avenue, 132-57 Sanford Avenue, 132-61 Sanford Avenue, 132-48 41st Road and 133-17 Sanford Avenue and 41-40 Denman Street.
  • Event Sales
  • Address 17 West 125th Street
  • Neighborhood Central Harlem
  • Borough Manhattan
  • Square feet 9,000
  • Price $ 30,000,000
  • Price per foot $ 3,333.33
notes
The five story property sold for $30 million.
  • Event Retail leasing
  • Address 2143 Adam Clayton Powell Boulevard
  • Neighborhood Central Harlem
  • Borough Manhattan
  • Square feet 700
  • Event Retail leasing
  • Address 2143 Adam Clayton Powell Boulevard
  • Neighborhood Central Harlem
  • Borough Manhattan
  • Square feet 900
  • Event Retail Leasing
  • Address 17 West 125th Street
  • Neighborhood Harlem
  • Borough Manhattan
  • Square feet 1,700
  • Publication Date 01/01/2015
  • Event Date 11/17/2014
  • Party 1 Treetop Development
  • Party 1 Brokerage Kassin Sabbagh Realty
  • Party 1 Broker Dan Myers
  • Party 2 Buffalo Boss
  • Party 2 Brokerage Task Realty
  • Party 2 Broker Adam Stupak, Alex Spanbock
notes
The organic chicken wing chain signed a 10-year lease. The reported asking rent was $100 per square foot.
  • Event Sales
  • Address 565 West 139 Street, 27-29 Audubon Avenue, 79 Audubon Avenue, 516 West 169 Street, 507 West 170 Street
  • Neighborhood Midtown
  • Borough Manhattan
  • Price $ 24,500,000
  • Event Sales
  • Address 1917 Seventh Avenue
  • Neighborhood Central Harlem
  • Borough Manhattan
  • Price $ 29,000,000
notes
The properties sold for $29 million. The buildings are located at 1917 Seventh Avenue, 110 St. Nicholas Avenue, 120 West 116th Street and 110 West 116th Street. 4 apt. bldgs, 82 units total
  • Event Sales
  • Building Name 2271-2273 Adam Clayton Powell Boulevard
  • Address 2273 Adam Clayton Powell Boulevard
  • Neighborhood Central Harlem
  • Borough Manhattan
  • Price $ 11,250,000
  • Price per foot $ 272.00
notes
The properties sold for $11.25 million, or $272 per square foot. The buildings are located at 2261, 2267-2269 and 2271-2273 Adam Clayton Powell Boulevard, and the vacant lot is located at 2265 Adam Clayton Powell Boulevard. 3 apt. bldgs and vacant lot
  • Event Sales
  • Address Harlem portfolio
  • Neighborhood Midtown
  • Borough Manhattan
  • Price $ 11,250,000
  • Event Sales
  • Address Harlem portfolio
  • Neighborhood Midtown
  • Borough Manhattan
  • Price $ 29,000,000
  • Event Sales
  • Building Name 220 West 116th Street and 449 West 125th Street
  • Address 449 West 125th Street
  • Neighborhood West Harlem
  • Borough Manhattan
  • Price $ 15,400,000
  • Price per foot $ 8.80
notes
The properties sold for $15.4 million. The buildings last traded in November 2012 for $8.8 million. 2 mixed-use bldgs
  • Event Sales
  • Address 220 West 116th Street 449 West 125th Street
  • Neighborhood Midtown
  • Borough Manhattan
  • Price $ 15,400,000
  • Event Retail Leasing
  • Address 924 Columbus Avenue
  • Neighborhood Upper West Side
  • Borough Manhattan
  • Square feet 570
notes
The pizza parlor signed a 13-year lease.
  • Event Sales
  • Building Name 17-27 West 125th Street
  • Address 17 West 125th Street
  • Neighborhood Central Harlem
  • Borough Manhattan
  • Price $ 13,600,000
notes
The property sold for $13.6 million.
  • Event Sales
  • Address 62-60 99th Street
  • Neighborhood Rego Park
  • Borough Queens
  • Price $ 85,250,000
  • Publication Date 08/01/2013
  • Event Date 06/17/2013
  • Party 2 Treetop Development
  • Party 2 Brokerage HFF
  • Party 2 Broker Jose Cruz, Andrew Scandalios
  • Event Sales
  • Address 17-27 West 125th Street
  • Neighborhood Harlem
  • Borough Manhattan
  • Price $ 13,600,000
  • Publication Date 08/01/2013
  • Event Date 06/17/2013
  • Party 1 Broker Peter Van Der Ahe, Scott Edelstein, Seth Glasser
  • Party 2 Treetop Development
  • Event Sales
  • Address 926 Amsterdam Avenue
  • Neighborhood Upper West Side
  • Borough Manhattan
  • Price $ 53,000,000
notes
The package of multifamily buildings sold for about $53 million. The properties are located at 926 Amsterdam Avenue, 929 Amsterdam Avenue, 931 Amsterdam Avenue, 932 Amsterdam Avenue, 934 Amsterdam Avenue, 964 Amsterdam Avenue, 965-7 Amsterdam Avenue, 969 Amsterdam Avenue, 971 Amsterdam Avenue, 924 Columbus Avenue, 926 Columbus Avenue, 928 Columbus Avenue, 943 Columbus Avenue, 953 Columbus Avenue, 961 Columbus Avenue, 973 Columbus Avenue and 342 Manhattan Avenue. In addition to the apartments, the properties together have 27 commercial units.
  • Event Sales
  • Address 110 West 116th Street
  • Neighborhood Central Harlem
  • Borough Manhattan
  • Price $ 18,400,000
notes
The package of multifamily buildings with ground-floor retail sold for $18.4 million. The price represents a capitalization rate of less than 6 percent. The properties are located at 120-26 West 116th Street, 1917-19 Adam Clayton Powell Jr. Boulevard, 110 St. Nicholas Avenue and 110 West 116th Street. The residential units include 60 two-bedrooms and 22 three-bedrooms.
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...re joined by New Jersey–based outfits like Treetop Development and the Orbach Group, Queens-based Alma Realty, Doug Eisenberg of A&E Real...
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