​As we venture deeper into 2024, Mastello Real Estate is embarking on a transformative journey, poised to redefine our presence and operations in upstate New York. Our ambitious scaling strategies and a focus on enhancing our management team are at the forefront of this evolution. Additionally, we're adopting a strategic approach to our portfolio by liquidating our lowest-performing properties, allowing us to streamline operations and focus resources on high-growth opportunities.

Strategic Scaling for a Robust Future

Our scaling strategies for 2024 are meticulously crafted, reflecting our commitment to sustainable growth and excellence in real estate. Understanding the dynamic landscape of upstate New York, we're leveraging advanced market analytics and insights to identify high-potential areas for development and investment. This data-driven approach ensures that our scaling efforts are not just expansive but also smart and sustainable.

Empowering Our Management Team

At the heart of our scaling strategy is our people. We believe that a skilled and visionary management team is pivotal to navigating the complexities of real estate development and investment. This year, we're intensifying our efforts to attract, develop, and retain top talent in the industry. Through a combination of leadership development programs, competitive compensation packages, and a culture that values innovation and collaboration, we're enhancing our team's ability to drive Mastello Real Estate towards its ambitious goals.

Our management team's growth is also about enhancing our operational efficiency and decision-making capabilities. By integrating cutting-edge technologies and management systems, we're streamlining processes and enabling our team to focus on what they do best—delivering exceptional real estate solutions to our clients and partners.

Liquidating Low-Performing Assets for Efficiency

A strategic pivot in our approach this year is the liquidation of our lowest-performing properties. This decision is not taken lightly but is a necessary step to cut superfluous expenses and reallocate resources towards more lucrative ventures. By doing so, we're not just improving our financial health but also positioning Mastello Real Estate for exponential growth. This move reflects our commitment to operational excellence and financial prudence, ensuring that every asset in our portfolio contributes positively to our overarching objectives.

Focusing on Exponential Growth in Upstate NY

Upstate New York presents a unique mix of opportunities for real estate development and investment. With its diverse communities, burgeoning economies, and scenic landscapes, it's ripe for strategic real estate initiatives. Mastello Real Estate is at the forefront of tapping into this potential, with plans to launch several high-impact projects in the region. Our focus is on creating value for our clients, partners, and the communities we serve, fostering sustainable development that benefits all stakeholders.
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In conclusion, 2024 marks a pivotal year for Mastello Real Estate as we embark on a journey of strategic scaling, management team empowerment, and portfolio optimization. Our targeted approach in upstate New York is not just about growth but about setting a new standard for excellence in the real estate industry. We're excited about the possibilities ahead and look forward to sharing our journey with you.

In the ever-evolving landscape of real estate, 2023 emerged as a pivotal chapter in the Mastello Real Estate saga—a tale marked by remarkable expansion and strategic fortification. From its modest inception, boasting a mere five properties, the company embarked on an unprecedented trajectory, culminating in a formidable portfolio of 23 properties by year-end. This thrilling ascent sets the stage for an exhilarating journey ahead, blending strategic foresight with a laser-focused commitment to stability.

President and Co-Founder Cameron Smith stands at the helm, a visionary navigating Mastello through the currents of rapid but meticulously calculated growth. "The year 2023 was a testament to our unwavering dedication," he reflects. "Our relentless pursuit of expansion was met with resounding success, setting the groundwork for what promises to be an ambitious 2024—a year where we're poised to double our portfolio by adding approximately 20 new properties."

Smith's ambitions are not grounded in whimsy; they are rooted in robust projections. He foresees this forthcoming expansion catapulting Mastello's revenue by a staggering 150%, building upon the commendable $1.3 million generated in 2023—a testament to the company's unwavering performance. Yet, Mastello's ambitions don't end at its own doorstep; its sister business, Masaschi and Costello Development LLC, is set to ride this wave of growth.

"We've solidified our position as the vanguards of Rochester's short-term rental market," remarks Co-Founder Masaschi. "Our ascent to the apex of this industry is a testament to the relentless dedication of our teams and the unwavering leadership of Cameron and myself. Our strategic expansion is the cornerstone of our relentless pursuit of excellence."

However, amidst this meteoric rise, Mastello remains rooted in its core values—nurturing existing teams while nurturing the growth of its sister company, Masaschi and Costello Development. With two planned developments in Canandaigua, NY, Mastello's commitment to quality and expansion shines through every facet of its operations.

"As we chart new territories, we remain steadfast in fortifying our foundations," adds Masaschi. "Our growth isn't merely about numbers; it's a testament to the unwavering quality and service that have positioned us as industry leaders."

Notably, Mastello Real Estate has been a catalyst for employment growth in the upstate New York region. In 2023 alone, it created 20 new jobs, contributing to the local economy. Looking ahead, the company is projected to have 50 employees by the year's end in 2024, further solidifying its commitment to fostering job opportunities and economic development in the region.
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Looking ahead, Mastello Real Estate and its affiliates stand on the brink of an enthralling phase—a journey marked by steady growth, an unwavering commitment to excellence, and an unrelenting drive for innovation. As they navigate the complexities of a thriving market, one truth remains resolute: Mastello Real Estate is not merely chasing growth; it's pioneering a new paradigm of success—one anchored in stability, precision, and unwavering leadership. The stage is set for a resplendent 2024—an era defined by Mastello's relentless pursuit of greatness in the real estate domain.

Mastello Real Estate, LLC, is gearing up for development this summer on East Lake Road in Canandaigua.
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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.