Developer Gerard Longo has announced the formal spin-off of Mettle Property Group from his Madison Estates brokerage.
Longo will lead a team focused on acquisitions, new developments and equity positions.
“To better define the well-recognized development division, we decided it was the appropriate time to create an independent platform,ˮ said Longo, a veteran of the New York real estate business.
“Projects developed by Mettle will not only aesthetically compliment their surroundings, but will also remain fiscally responsible to their plan. In the process, we look forward to continuing our established discipline in the industry, as well as maintaining our relationships with strategic partners to share in its collective benefit.”
Under Longo’s direction, the team at Mettle has been involved in over 60 mid-rise residential developments, as well as overseeing the renovation and rehabilitation of some 500 one-to-four family dwellings.
Past projects have included the Pearline Soap Factory and the Fairchild, developments in TriBeCa, as well as the Townhouses of Cobble Hill located on Congress Street in Brooklyn.
Properties currently in development by Mettle include 70 Henry Street in Brooklyn Heights, a residential condominium, as well as 36-20 Steinway Street, Long Island City, a dual branded 290-key Hilton hotel in partnership with JMH Development.
Madison Estates will continue to operate as boutique brokerage firm with multiple offices serving the Brooklyn community.