LIVINGSTON--In one of upstate New York’s largest multi-family investment trades this year, Gebroe-Hammer Associates recently orchestrated the $102 million acquisition of 1,187 total units at two luxury garden-apartment complexes in Dutchess County, NY.
Executive Vice President Joseph Brecher represented the buyer, The Solomon Organization, a long-time Gebroe-Hammer client, in both transactions.
Chelsea Ridge, an 835-unit complex in Wappingers Falls, NY, and the 352-unit Hudson Harbour Apartments in Poughkeepsie, NY, sold for $73.5 million and $28.5 million, respectively. Combined, the two upscale properties exceed 1 million sf and more than 125 land acres.
Located at 1 Chelsea Ridge Mall, the Chelsea Ridge complex is just 60 miles north of New York City. All one-, two- and three-bedroom units have recently been remodeled with eat-in kitchens, new cabinetry, high-end appliances and new flooring and baths. Community amenities include an outdoor pool and tennis courts; playground; market, pizzeria and deli; dog park; fitness center; movie room; and lounge.
In the nearby county seat of Poughkeepsie, Hudson Harbor is situated at 9 Hudson Harbour Drive near the downtown area. The luxury apartment-rental garden community is convenient to local shopping, dining and entertainment. Offering eight different spacious floor plan choices with a mix of one, two- and three-bedroom layouts, the complex features designer elements such as cathedral ceilings, skylights, breakfast bars, private balconies or patios and walk-in closets. Recent upgrades include newly renovated kitchens and baths.
Alan Hammer, Esq., of Brach, Eichler LLC, of Roseland, NJ, along with Allen Popowitz, Esq., and Alois Habjan, Esq., comprised the legal team on behalf of the buyer.
Gebroe-Hammer Associates
www.gebroehammer.com
Comments, Pingbacks:
No Comments/Pingbacks for this post yet...
