Mastello Real Estate, LLC, a Rochester-based real estate and property management group, has been rumored to have multiple million dollar deals in place for property this May. Mastello Real Estate is looking to acquire property in the Park Avenue area, downtown Rochester, and on Canandaigua Lake according to filings with the Monroe County Clerk.
After a successful first year in Rochester, 2021, acquiring multiple properties on Monroe Avenue, East Avenue, along with residential properties around Canandaigua Lake, Mastello is looking to return with an even stronger 2022. The properties that are receiving offers from Mastello real estate will potentially bring in over $300,000 in revenue yearly and will increase their portfolios square footage by roughly 15,000 sq ft.
Mastello has been successfully run by Rochester based developers Cameron Smith and Luke Masaschi for a year now after having both managed multiple successful businesses in the past. The growth that the Masaschi Costello Group, LLC, has seen in the short time since the companies fruition is a testament to the dedication and time that both partners have put into the company.
We talked to a local representative, “I think (Mastello) has done some homework, watched projects around the country that have been successful, and they’re going to bring them to the Rochester area,” he said. “And hopefully the buying public will understand these great projects they’re going to put forth.”
This summer is going to be a very busy one for Mastello. Rochester is very excited to see what these projects will provide for the community and looks forward to watching Mastello’s rapid growth in the future.
6/25/2021 0 Comments
Mastello Real Estate, LLC, is gearing up for development this summer on East Lake Road in Canandaigua.
The developer with a number of current Rochester projects, Mastello Real Estate is in the early stages development on the property, said Cameron Smith, one of the firm’s managing partners.
Plans call for five to ten luxury farmhouses on the East Lake property, with lake front property, two large barns, and surrounding forest.
Five to ten one- and two-bedroom luxury farmhouses are planned, with modern amenities found in other Mastello properties such as quartz countertops and stainless steel appliances, said Luke Masaschi, the firm's other managing partner.
Mastello plans to spend several million dollars on renovations and building, he said.
Masaschi estimates the work will take roughly three years to complete, with the first farmhouse ready for occupancy in late summer 2021.
The location, as well as the natural beauty, drew Mastello to the Property, Masaschi noted.
“It’s a prime spot and a location,” he said.
The development is one of many projects Mastello has underway.
This summer, Mastello opened multiple one- and two-bedroom luxury apartments at the Hiram Sibley Building at 365 East Ave.
Other Mastello properties include several Button Loft apartments, which will open by the end of 2023.
Mastello also has two new developments in downtown Rochester but plans for those projects are yet to be determined, Smith said.
Masaschi and Smith expect the East Lake Rd residential units to reach full occupancy, noting the growing interest in Canandaigua lake housing.