Annandale Mansion, a 16-unit apartment building in Saratoga Springs near the Skidmore College campus, sold last month for $3.2 million.

April 13, 2025  |  Chelsea Diana  |  Albany Business Review

Annandale Exterior – 1

The property at 245 Clinton St. sold on March 3, according to a deed filed in April in Saratoga County. The sellers were Annandale Mansion LLC and the deed was signed by Albert Miller.

The buyer was Skidmore Mansion LLC, which is controlled by Brian and Gregory Green of Green Springs Capital Group. The purchase was financed with a $3.415 million loan from Pioneer, according to mortgage documents.

Brian Green said the brothers plan to slowly renovate the nearly 1-acre property while keeping its historic character.

The interior lobby of the Annandale Mansion apartment building.

Green estimated it will take 18 months to renovate the entirety of the more-than-15,000-square-foot building, which is almost fully occupied. As units turn over, they’ll update apartments.

They’re working with CG Construction Group, which the brothers started last year with Matthew Crudo, formerly of Redburn Development Partners.

“We’re value-add purchasers,” Green said. “We saw opportunity there. The finishes inside the building are dated. The [renovation] plan is nothing crazy. Over time, we’ll update the kitchens and baths to modernize and to keep the historic charm that building has, the value in that property is it’s history.”

The exterior of the property also needs some updates, including a new roof, fresh paint, updated landscaping, and updates to the parking lot. They p[lan to make exterior updates this spring.

It’s the latest purchase for the Greens.

Brian Green started the business nine years ago with a single apartment building. Over time, Gregory joined Green Springs Capital Group, and the brothers purchased and renovated apartment buildings throughout Saratoga County.

Today, they own and manage 16properties in the county.

Construction is nearly complete on the Greens’ first ground-up construction project at 182 Excelsior Ave. in Saratoga Springs. The 42-unit apartment and condo project is expected to be complete this year.

Green said leasing for the apartments will start in June, with rents of around $2,800 a month. The condo units should be complete by the end of June, and are awaiting final state approvals.

They’re finishing up another renovation project on Franklin Street in Saratoga Springs for a 12-unit apartment building that should be complete this year.

The project, featuring 19 apartment units and commercial space, is expected to be completed this summer

February 25, 2026  |  Lilli Iannella  |  Times Union

GLENS FALLS — A three-story brick building and garage in Glens Falls is being converted into apartments and commercial space.

It’s a $4.5 million mixed-use project that will involve converting the space at 178-180 Maple St., formerly home to a brewery and a mechanical garage, said Brian Green, co-founder of Green Springs Capital Group LLC, the project’s developer.

At the center of Green Springs Companies is Brian Green, a founder and entrepreneur whose career reflects a rare blend of strategic thinking, operational discipline, and long-term vision.

January 30, 2026  |  Buying Local

Brian-Green

What began as a hands-on real estate investment effort has grown into a vertically integrated real estate ecosystem—one designed not just to acquire properties, but to systematically unlock and maximize their value.

Brian is not a developer who chases trends. He builds durable businesses that respond intelligently to market realities, local conditions, and long-term demand.

A Real Estate Family of Companies

Green Springs Companies is best understood not as a single firm, but as a family of complementary businesses, each designed to solve a specific problem within the real estate lifecycle. Together, they create a closed-loop system that allows Brian and his team to control quality, execution, and outcomes.

Green Springs Capital Group

This is the development and investment arm of the organization. It focuses on:

• Real estate development and acquisitions
• Deal sourcing, underwriting, and financing
• Working with private investors on select projects
• Long-term asset management and growth

The strategy is heavily rooted in value-add development—acquiring underperforming or outdated properties and transforming them into high-quality, income-producing assets built to last.

Property Management (In-House First)

Rather than outsourcing operations, Brian built an internal property management company to ensure business plans are actually executed on the ground. This team:

• Manages Green Springs-owned properties
• Optimizes performance, tenant experience, and maintenance
• Protects long-term asset value

For Brian, great development ideas mean nothing if the property isn’t run correctly. Operational excellence is non-negotiable.

Commercial Construction

Green Springs also operates a dedicated commercial construction company, originally built to serve internal projects but now handling significant third-party work as well. This removes one of the biggest risks in real estate development—execution uncertainty—and gives Green Springs the confidence to take on complex, large-scale projects without bottlenecks.

Real Estate Financial Advisory

The advisory arm focuses on:

• Asset and portfolio optimization
• Financing strategy and restructuring
• Construction and development financial modeling

This business exists because Brian recognized a common gap in the market: many builders and investors know how to construct projects, but not how to math them correctly. Green Springs fills that gap.

How Brian Thinks About Growth

Brian’s approach to growth is pragmatic, not flashy. He scales only when the underlying model proves itself.

Early on, he handled everything himself—leasing, maintenance, renovations, snow removal, and financial analysis. That experience shaped his philosophy:

• Systems matter
• People matter more
• Scale only amplifies what already works

As projects grew from duplexes to large multi-unit developments, the process remained largely the same. The difference was scale—and the ability to bring in specialists who could outperform him in specific areas.

Responding to Market Conditions—Not Fighting Them

One of Brian’s defining strengths is his ability to pivot strategically when markets change.

When commercial real estate pricing became disconnected from reality post-COVID, Green Springs didn’t stall. Instead, Brian identified opportunity in historic properties, leveraging tax credits and incentives to make deals pencil when others couldn’t.

Similarly, when rental valuations plateaued in certain markets, Green Springs explored condominium conversions, aligning exit strategies with local housing shortages and buyer demand—particularly in high-demand areas like Saratoga.

This adaptability is rooted in deep local knowledge and disciplined analysis, not speculation.

The Value Brian Brings to the Table

Whether you are an investor, partner, municipality, or collaborator, Brian Green consistently delivers value in several key ways:

• Strategic clarity – Every project starts with a clear business plan and defined outcome.
• Execution confidence – Vertical integration removes guesswork and risk.
• Long-term alignment – Most assets are held for 10+ years, prioritizing sustainability over quick exits.
• Problem-solving leadership – Brian thrives in complex environments where others stall.
• Access to opportunity – Through Green Springs, investors gain exposure to high-quality real estate projects without operational burden.

Perhaps most importantly, Brian builds platforms that allow other people to win—partners, team members, and investors alike. His vision of success includes financial freedom, career growth, and long-term stability for those involved in the ecosystem.

Looking Ahead

Green Springs Capital Group is targeting $200 million in assets under management by 2030, a goal driven not by ego, but by scale requirements—supporting leadership teams, partners, and families connected to the business.

For Brian, growth isn’t about accumulation. It’s about building systems that create freedom, resilience, and opportunity.Learn more about Brian and Green Spring Companies at https://greenspringscapitalgroup.com/

The Ridge includes a restored 200-year-old home and carriage house

September 19, 2025  |  Lilli Iannella |  Photos by Lori Van Buren |  Times Union

Green Springs Capital Group LLC is looking to turn a vacant warehouse in Glens Falls into new apartments.

June 26, 2025  | Chelsea Diana  |  Albany Business Review

182-excelsior-ave-apartmentssaratoga-0506202513

Green Springs Capital Group LLC is looking to turn a vacant warehouse in Glens Falls into new apartments.

Brothers Brian and Gregory Green are asking the city for approval to convert 178-180 Maple St. in Glens Falls into 19 apartments and convert a former garage into a commercial space. The property, a three-story brick warehouse, is on the same block as The Shirt Factory and Rock Hill Bakehouse & Cafe.

It would be Green Springs Capital’s first development in Glens Falls and Warren County. The property management and development business has previously focused on Saratoga County.

Brian Green previously told the Business Review that they had looked for the right property to buy in Glens Falls for a while before putting 178-180 Maple St. under contract. The property is listed with Michelle Cardinale of Hunt Real Estate ERA for $569,000.

“We’ve been trying to get there for the last five years. Nothing has hit,” Green said. “It’s a different market than we’re used to. Rents and property values are lower for the most part, which makes it harder to do ground-up construction. … We’re being selective up there and like the market for a good expansion market for us.”

Renovations to the roughly 21,215-square-foot building would include the 19 apartments, 2,357 square feet of commercial space, a courtyard and bike rack, according to plans filed with the Glens Falls planning board. The apartments would include four studios, 11 one-bedroom units, three one-bedroom units with a den and one two-bedroom unit.

The estimated cost for the project is $3.55 million, according to documents filed with the planning board.

Green Springs is working with Lansing Engineering and Thaler Reilly Wilson Architecture & Preservation on the plans. The project will be before the Glens Falls Planning Board on July 2.

Green Springs Capital began to look into warehouse-to-apartment conversions last year after starting a new construction firm with Matt Crudo called CG Construction Group. Crudo is the former senior vice president of construction at Redburn and has worked on dozens of historic rehabs and apartment conversions throughout the region.

“With Crudo’s background, we’re focusing a lot on conversion and renovation projects. He’s got a lot of experience doing those types of projects, and we’ve done some of that work on a limited scale with mostly multifamily that we’re renovating, but we’ve never really stepped into, OK, let’s renovate this office or warehouse into apartments,” Brian Green told the Business Review in May. “That’s where [Crudo’s] expertise is going to be tremendous. A lot of what we’re leaning into now are those type of opportunities.”

Brian Green started the business eight years ago with a single apartment building. Over time, Gregory joined Green Springs Capital Group, and the brothers purchased and renovated apartment buildings throughout Saratoga County.

The group is finishing their first ground-up development project, an $18 million development in Saratoga Springs that includes a historic condo renovation. And it recently started renovations on Annandale Mansion, a 16-unit apartment building in Saratoga Springs near the Skidmore College campus.

The goal is to get Green Springs Capital to $200 million in assets under management. They’re at $50 million now.

“We’re not going to walk in and buy some apartments that were built in 2010, that’s not our model,” Green said last month. “We need to buy something that we can massively increase the value on.”

The Maple Street apartment conversion is the latest plan for new apartments in the city of Glens Falls, which is expected to see dozens of new apartments come to market in the next few years. One of the major pieces of development in the city is the revitalization of South Street, which is expected to bring 150 new apartments to Glens Falls.

A few blocks south of the proposed Green Springs development, Foothill Builders is looking to construct a new four-story building on Warren Street in Glens Falls that would include commercial space and another 60 apartments.

A 42-unit condo and apartment project on Excelsior Avenue in Saratoga Springs is nearing the end of construction.

May 8, 2025  |  Chelsea Diana  |  Albany Business Review

When brothers Brian and Gregory Green first took a look at a property with a neglected mansion and carriage house on Excelsior Avenue in Saratoga Springs, three other developers had already passed.

The Greens saw potential and pushed ahead on 182 Excelsior Ave., despite finding out they’d need to preserve and move the mansion and carriage house on the 2.5-acre site.

“The other three [developers] were smart enough to walk away. And I’m only one that was naive enough,” Brian said. “Greg and I would say, ‘Oh, just keep following the path and see if this thing works.'”

Brian Green, left, and Gregory Green of Green Springs Capital Group, at the 182 Excelsior Ave. project. Donna Abbott-Vlahos | Albany Business Review

Nearly three years later, their 42-unit apartment and condo project at the site is nearing completion. The $18 million investment is the first ground-up development project for their company, Green Springs Capital Group, and the start of a new phase for the property management and development business.

The complexities around approvals, financing, excavating the property and construction for development have served as a springboard for the Greens, and their partners, to think bigger.

“When you’re doing a development of this size, your business model might not be the only thing that matters,” Brian said. “There’s a lot of other stakeholders involved, whether it’s the planning department or preservation society, or the bankers. So you have to be flexible.”

The development is a case study in how to make a project that seemed at times impossible to work.

“We kind of got everything out of the way on our first ground-up development, right? We moved buildings, we did ground-up and we are doing historic renovation,” Brian said. “We went through planning board meeting after planning board meeting. So I think we just threw all the complicated stuff in the middle and did it all on the first trip.”

One of the first calls Brian Green made after looking at 182 Excelsior Ave. was to Matt Guidarelli, founder of Ascend Real Estate Advisors LLC.

Matt Guidarelli is founder of Ascend Real Estate Advisors. Donna Abbott-Vlahos | Albany Business Review

Guidarelli had cold called Green a few months before as he was prospecting clients for his new firm focused on financial advisement for real estate investors and developers.

“We had never worked together,” Green said of Guidarelli, a former banker and mortgage broker whose family owns Guidarelli Building & Design. “I [said], ‘Oh, he knows about construction, modeling and financing.’ So I called him.”

“It was maybe my only cold call that ever worked,” Guidarelli added. “They came to me and said, ‘Hey, we want to buy this. How do we do it?'”

Guidarelli’s role was to come up with a plan where they could keep the historic home on the property, build the apartments, land financing for the project and eventually have a good return on their investment. They were able to finance the project with a $13 million loan from Pioneer.

It helped they had an investor in Matt Crudo, former senior vice president of construction at Redburn, who has worked on dozens of historic rehabs and apartment conversions.

Matthew Crudo is president and CEO of CG Construction Group. Donna Abbott-Vlahos | Albany Business Review

The Greens both played football at the University of Albany, where they met Crudo. When they started planning for the Excelsior Avenue project, they asked Crudo to give a rough estimate of how much it would cost to construct. Then the Greens asked Crudo to invest in the project.

“One conversation turned to another, and … Brian was like, ‘Why don’t you come in the house and do this for us?'” Crudo said.

Crudo and the Greens started CG Construction Group last August. Within a week, they had a contract with Glens Falls Hospital. Crudo has also been working on the condo conversion at 182 Excelsior.

“It’s putting a lot of pressure on me. CG Construction is off and running here. Now I feel obligated to Matt,” Brian said. “We got to do something five times bigger now to feed the construction company, right? So it’s making us all level up a little bit.”

Future projects could involve everything from more ground-up developments to historic renovations (including the Annandale Mansion apartments) to warehouse-to-apartment conversions. The goal is to get Green Springs Capital to $200 million in assets under management. They’re at $50 million now.

“We’re not going to walk in and buy some apartments that were built in 2010, that’s not our model,” Green said. “We need to buy something that we can massively increase the value on. Because, we have certain term requirements that we’re looking for and our investors are looking for, and you can only get there by making those huge conversions or doing ground up development.”

The project at 182 Excelsior Ave. in Saratoga involves converting a 200-year-old mansion and carriage house into six condo units. There are also 35 new-build apartments. Donna Abbott-Vlahos | Albany Business Review

Developer: Green Springs Capital Group

Project cost: $18 million

Partners: Crisafulli Associates is the general contractor for the apartments; CG Construction Group is the general contractor for the condos; Pioneer is the lender; Ascend Real Estate Advisors is the financial advisor.

Details: Leasing for the 36 new-build apartment units, starting at $2,700 a month, will start soon. The six condos are expected to go to market this summer. Shannon McCarthy of eXp Realty will be the selling agent for the condos, which are expected to start in the $600,000s.

Green Springs Capital Group forms CG Construction Group LLC, led by industry veteran Matt Crudo, expanding into commercial construction to offer high-quality solutions for new builds, renovations, and large-scale projects.

October 29, 2024  |  Press Release Distribution Service

matthew-crudo—header

FOR IMMEDIATE RELEASE

Green Springs Capital Group LLC Announces Formation of CG Construction Group LLC

Saratoga Springs, NY – Oct 29, 2024 – Green Springs Capital Group LLC, a leading investment and real estate development firm, is proud to announce the formation of CG Construction Group LLC, a new commercial construction company. This strategic partnership marks a significant expansion of Green Springs’ portfolio and capabilities in the construction sector.

CG Construction Group LLC will be led by industry veteran Matt Crudo, who joins as president and CEO, bringing over 20 years of experience in residential, commercial, industrial, and retail construction. Crudo’s extensive background includes managing projects valued at more than $3 billion, positioning the new company to deliver top-tier construction solutions for both third-party clients and Green Springs developments.

Green Springs Capital Group LLC is also pleased to announce that Greg Green, a key executive within the company, will be working closely with Matt Crudo in leading CG Construction Group LLC. Greg brings a proven track record in construction management, having successfully overseen nearly $20 million in total construction projects with Green Springs over the past five years. His expertise includes leading expansive teams of subcontractors and vendors through the complexities of renovating apartment communities, further showcasing the new company’s capabilities in delivering large-scale and intricate construction solutions.

The formation of CG Construction Group LLC aligns with Green Springs Capital Group’s commitment to providing comprehensive financial and development services. By integrating construction expertise into its portfolio, Green Springs aims to enhance its ability to deliver end-to-end solutions for clients and investors.

Brian Green, Founder of Green Springs Capital Group LLC, expressed his enthusiasm for the new venture: “We’re excited to partner with Matt Crudo to form CG Construction Group. With his 20+ years of experience in managing major projects, we’re confident this venture will add value to our clients and expand our construction services.”

Matt Crudo, President and CEO of CG Construction Group LLC, shared his perspective on the partnership: “I’m honored to lead CG Construction Group and deliver top-quality solutions for new builds and renovations. Our team’s expertise and Green Springs’ resources will allow us to take on complex projects and exceed client expectations.”

The partnership is expected to have a positive impact on customers and stakeholders. Clients of Green Springs Capital Group LLC will now benefit from an integrated suite of services, from real estate development and property management, to construction management. This comprehensive approach will streamline project timelines, reduce costs, and ensure consistent quality across all phases of development.

For external clients, CG Construction Group LLC represents a new option in the market for high-quality construction services. The company will leverage Matt Crudo’s extensive network and experience to deliver exceptional results for new builds, renovations, and large-scale developments across various sectors.

The formation of CG Construction Group LLC also signals Green Springs Capital Group’s commitment to growth and innovation in the real estate and construction industries. By expanding its service offerings, the company is well-positioned to capitalize on emerging opportunities in the market and deliver increased value to its investors and partners.

As CG Construction Group LLC begins operations, it will focus on building a strong project pipeline and establishing itself as a trusted name in the construction industry. The company is already in discussions with potential clients and is expected to announce its first major projects in the coming months.

Green Springs Capital Group LLC and CG Construction Group LLC are committed to maintaining the highest standards of quality, safety, and sustainability in all their projects. The partnership will leverage the latest technologies and best practices in construction management to ensure efficient project delivery and client satisfaction.

For more information about CG Construction Group LLC and its services, please visit https://greenspringscapitalgroup.com/.

About Green Springs Capital Group LLC

Green Springs Capital Group LLC is an investment and real estate development firm that provides comprehensive financial and development services. The company is expanding its portfolio through strategic partnerships aimed at delivering top-tier solutions across various sectors.

About CG Construction Group LLC

CG Construction Group LLC is a full-service construction company formed through a partnership between Green Springs Capital Group and Matt Crudo. With over 20 years of experience in residential, commercial, industrial, and retail construction, CG Construction Group focuses on delivering exceptional construction solutions for new builds, renovations, and large-scale developments.