DDG, a fully integrated real-estate investment and development company, acquired a vacant development site, comprised of two adjoining lots, at 41-43 Bond St. in New York City’s NoHo Historic District. With approved building plans and construction financing in place. DDG has commenced construction of the $35 million, ten-story luxury condominium project.
The property is the first in a series of middle market acquisitions DDG expects to close over the next 6-12 months. DDG is a full service real estate investment and development company that was formed in the Spring of 2009 to take advantage of opportunities in the real estate market. DDG’s principals have in excess of a combined 65 years of experience, and a diverse range of skills that offer significant competitive advantages in New York City real estate development.
“We have a range of complementary skills that cross almost all aspects of real estate investment, which we believe offer significant competitive advantages in today’s turbulent marketplace,” said Joe McMillan, Chief Executive Officer and Chairman of DDG. “While we are tremendously excited about Bond Street, we also have a pipeline of projects that range from ground-up new construction, to partnering with existing lenders and developers on projects that are already underway. We’re opportunistic, with in-house financial, development, construction, and legal expertise, which allows us to quickly analyze opportunities and respond aggressively where we see value.”