Prosper Property Group was founded by Damien Smith who came to New York City from Ireland in the early 2000s. He worked his way to being a partner in a general contracting firm by the mid 2000s. When the financial crisis hit New York City in 2008, Damien and his partner parted ways, and First Standard Construction was born. After years of apartment renovations, major alterations and the creation of new buildings for his clients, Damien started developing on his own. He started by flipping one and two family homes in Queens and Brooklyn, which led to his first major project in 2011 at 147 Rogers Ave. in Crown Heights, Brooklyn.

Now, Prosper Property Group has over 450,000 square feet of future development in the pipeline in Manhattan, Brooklyn and Queens. Along with their own projects, they are consulting for a rezoning in the Bronx, acting as an owners representative for a Manhattan project; taking a vacant lot through the planning, coordination and brownfield process to be shovel ready, as well as acting as a brokerage for development and investment sales.