What's The Big Deal?

What’s The Big Deal? Congers Assemblage Sells For $50 Million; Chartwell Pharma Buys Again on Hemlock; Haverstraw Main Street Property Sells For $2.7 Million

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Congers Assemblage Along Route 303 Sells To Brooklyn Developer For $50 Million

A major assemblage in Congers, involving nineteen individual largely wooded lots totaling about 50 acres bordering Route 9W, along Meolia Road, up Old Orchard Lane (a paper street) and bordering the CSX rail line, has sold to a Brooklyn-based LLC. The properties surrounds the shopping center at Colonial Plaza and the self-storage facility on Route 9W.

Congers AssemblageGK Congers LLC, based in Brooklyn, NY paid $50 million for the assemblage. Financing in the amount of $32.5 million was provided by New York City-based Metropolitan Commercial Bank.

The properties include 12, 14, 16, 17, 19, 21, 23, 25, 27 and 29 Meoila Road, 1, 2, and 4 Old Orchard Lane, and 255, 287 and 299 North Route 303.

The seller is a group that has been acquiring the parcels since last February and has paid about $20 million dollars for the assemblage. The seller is affiliated with local developer Berel Karniol of Suffern.

A previous proposal to build 300 units of senior housing called Orchard Ridge was shelved after the 2008 market crash. The current zoning is CO and COS. CO allows for commercial office uses, light industrial including data centers, warehouses and distribution centers. COS allows the same uses, but also allows some retail uses as well.

The buyer, GK Congers LLC, a New York LLC’s authorized signatory is Yoel Gruber. Gruber is president of NY Developers & Management LLC, established in 2005 with extensive experience in New York City real estate development, primarily in Brooklyn.

No proposals or plans have been filed with the Clarkstown Planning Department as of publication.

Chartwell Buys Another Building On Hemlock In Congers; Seeks PILOT Program Tax Breaks From Rockland IDA

ChartwellCongers-based Chartwell Pharmaceuticals through its realty arm, Chartwell Hemlock Property LLC has purchased another building, this time at 30 Hemlock Drive in Congers. The seller was G. Cheney of Rockland Ltd. The 4.04 acre site sold for just under $9.4 million. The Class B office building is about 47,000 square feet and has 169 parking spaces.

In July, Chartwell acquired the commercial property at 25 Hemlock Drive for $13.79 million and secured the assignment of a raft of financial benefits from the Rockland IDA. The vacant 81,000 square-foot, Class A industrial building sits on 7.5 acres, and was constructed in 1992 with 100 parking spaces. The acquisition was part of Chartwell’s expansion.

Chartwell has returned to the Rockland IDA for additional benefits, specifically a PILOT (Payment In Lieu of Taxes) program. In its application, Chartwell said the proposed use of 30 Hemlock is warehousing and distribution, and that the project would not be economically feasible with the PILOT program.

21-29 Main Street In Haverstraw Sells For $2.7 Million

The mixed-use (retail below/apartments above) buildings at 21-29 Main Street sold for $2.7 million. The sellers were Further 5 LLC and Kedar Realty LLC. The buyer is Monsey-based 21 29 Main Street LLC. Financing in the amount of $1.8 million was provided by Buffalo-based M&T Bank. The 8,032 square foot, two-story buildings sit on .32 acres

The buyer is Leah Werzberger, through 21 19 Main Street LLC. Werzberger is affiliated with Monsey-based All Star Realty Management.

The sellers originally acquired the building in 2016 for $990,000.