LP Deal Review | Mortar Group | MG East River

January 31, 2025

In the latest Deal Review episode, Anthony Morena from Mortar Group presents the MG East River deal to our LP panel: Jim Pfeifer, Paul Shannon, and Chris Lopez.

The panel asks questions like:

How does the New York City condo conversion process work, and what regulatory or legal steps must you navigate to complete the exit?
Why is the property management fee different in the PPM and the operating agreement?
Can you explain the debt terms and how you go from construction loan to perm financing (if at all)?

The LP panel then answers the key question: if they had capital available, would they consider this deal?

Want to discuss the deal with other investors in the community?

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About the Deal

With this New York Value-Add offering, Mortar is providing this opportunity to target distressed assets located in prime NY neighborhoods, acquiring underutilized assets while commencing a detailed value add program, occurring over a 3 year term. With many local submarkets experiencing low inventory, coupled with high demand and growth during the last few years – East River looks to create an excellent opportunity to capture outsized demand in thriving locations with strong local demographics.

Want to learn more about the deal?

Visit Deal Page

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