Stony Point Apartments LLC, an affiliate of the Montel, Ltd. and Mountco Construction & Development Corp. (Mountco) closed on the acquisition and rehabilitation of 75 units of senior housing

Stony Point Apartments LLC, an affiliate of the Montel, Ltd. and Mountco Construction & Development Corp. (Mountco) closed on the acquisition and rehabilitation of 75 units of senior housing with a total development cost of approximately $17,400,000. The project is located in Stony Point, New York and the rehabilitation work will start construction in early 2018 and be completed by the end of that year. Mountco is also the general contractor for that project.

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