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Mountain Top Properties Inc. (MTPP) Signs Master Lease for Exclusive Mixed-Use Property, Moves Forward with Hamptons Acquisitions
January 11, 2024

Mountain Top Properties Inc. (MTPP) Signs Master Lease for Exclusive Mixed-Use Property, Moves Forward with Hamptons Acquisitions

  • MTPP diversifies investment portfolio with projects spanning traditional property management, real estate development, and investments in PropTech
  • Company recently secured lucrative lease for exclusive mixed-use property covering five acres in strategic Pennsylvania location
  • MTPP builds, acquires, renovates, and remarkets waterfront/water-view properties in booming Hamptons amid skyrocketing demand and severe supply shortage
  • Company currently raising $10 million in equity through a Reg A for Hamptons projects, secured debt capital commitments covering 70% of acquisition costs and 100% of construction expenses

Diversification is critical for generating stable, above-average returns in today’s turbulent property market. With that goal in mind, Mountain Top Properties (OTC: MTPP), a diversified real estate holding company, fuses traditional property management and real estate development with investments in property technology (“PropTech”) at exclusive locations in the Tri-State area and beyond.

The company recently secured a lease for a property strategically located near Harrisburg and Reading, PA, with convenient access to major corridors. This prime location includes a mixed-use building spanning approximately 250,000 square feet, two single-family homes over five acres, and 14,400 square feet of refinished office space. With a diverse mix of revenue streams, this latest acquisition complements MTPP’s property strategy to provide stable investment returns amid today’s volatile economic landscape.

MTPP additionally has partnered with On-Site Builder Construction Co. Inc. to develop projects in the Hamptons – an exclusive enclave of luxury properties located against a backdrop of high-end restaurants, upmarket boutiques, and first-in-class cultural attractions. Located a few hours from New York City, demand for homes in the area continues to rise despite prevailing economic trends – especially from celebrities, affluent individuals, and others looking for an escape from the city.

MTPP aims to meet that demand by acquiring, renovating, and remarketing waterfront or water-view properties in the area through its subsidiaries: Mountain Top Realty Inc. and Mountain Top Capital Fund I LLC. The company also partners with On Site Builder Construction Co. Inc., which has built some of the most prominent properties over the last 40 years.

“I’ve been building here long enough to have gone through a few downturns in the market here. The downturn in the market in the Hamptons is a stabilizing market, especially in the high-end,” said Joseph Kelley, manager of On-Site Builder Construction, during an interview on IBN’s Bell2Bell Podcast (https://ibn.fm/6aO6C). “We’ve seen during recessions or pressure on the market that the high-end always maintains its value, and even if it plateaus for a short period of time, we see another quantum leap in terms of its ultimate value.”

MTTP is raising $10 million in equity to acquire and build or renovate waterfront properties in the area, with secured debt capital commitments covering 70% of acquisition costs, 100% of construction expenses, and an additional $10 million to explore opportunities in the surrounding area. Management projects timelines of 15 to 18 months per property, with a target return on investment of 20% to 30% for each transaction.

“The old adage in real estate is ‘location, location, location’,” continued Mr. Kelley. “We have some of the most premier locations for building these high-end types of homes that probably exist in the country, if not the world.”

Mountain Top Properties is headquartered in Liverpool, New York with a satellite office in Sag Harbor, New York. The company focuses on traditional real estate development and property management in the Tri-State area, with supplementary PropTech investments that provide portfolio diversification and stable returns for investors.

For more information, visit the company’s website at www.Mountain-Top-Properties.com.

NOTE TO INVESTORS: The latest news and updates relating to MTPP are available in the company’s newsroom at https://ibn.fm/MTPP

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