|
RCBJ-Audible (Listen For Free)
 |
Nyack Multifamily Sells For the Second Time In Three Years, Netting $4.825 Million
The multifamily property located at 26-28 Upper Depew Avenue in Nyack has been sold for $4,825,000. The transaction took place on January 27, 2025. The property consists of 19 units, with a price per unit of $254,000 ($295 per square foot). The seller was Upper Depew On Hudson LLC. The buyer is New City-based Upper Depew Partners, LLC. Its manager is Eliezer Raskin.
The buyer assumed the outstanding mortgage from US Bank & Trust.
The multifamily, spread over two buildings, contains 16,350 square feet and sits on .95 acres. The apartments were constructed in 1975.
The multifamily last traded in July of 2022 for $4.1 million, or $216,000 per unit ($250 per square foot).
The multifamily is included in a list of properties compiled by the Village of Nyack that would be included in rent stabilization under the Emergency Tenant Protection Act, should a survey of units reveal a vacancy rate below 5%. Village officials have expressed a commitment to re-survey available apartments should it need to declare a housing emergency and implement rent stabilization.
A bill recently introduced in the New York State Legislature seeks to remove the requirement for vacancy studies, paving the way to put more apartment units under rent stabilization law.
Chartwell Pharmaceuticals Buys Congers Warehouse On Route 9W For $3.8 Million
Congers-based Chartwell Pharmaceuticals acquired two parcels at 109 and 115 Route 9W for $3.8 million. The seller was 115 Route W9 LLC; the buyer was Chartwell Auxiliary Realty LLC, an arm of Chartwell Pharmaceuticals. The two parcels total 1.62 acres. The primary parcel at 115 Route 9W is 1.33 acres where a 15,600 square foot warehouse was constructed in 1986. The price was $243 per square foot.
The seller originally acquired the property in July of 2021 for $1.9 million.
In 2024, Chartwell Pharmaceuticals acquired vacant land at 40 Hemlock Drive in Congers. The seller was Intercos America Inc. The buyer was Chartwell Hemlock Land LLC. The purchase price for the 8.98 acre parcel was $4.5 million.
In July of 2023, Chartwell acquired 25 Hemlock Drive for $13.8 million. In September of 2023, Chartwell acquired 30 Hemlock Drive for $9.4 million. Chartwell sought and received a raft of benefits working with the Rockland County Industrial Development Agency on these earlier acquisitions.
Sisters Of Charity Acquire 90-Unit Haverstraw Place For $8.176 Million
Haverstraw Place Enterprises, LLC, an arm of the Staten Island-based Sisters of Charity Housing Development Corporation, purchased the senior housing facility at 140 Route 9W in the Village of Haverstraw. The property services qualified low-income senior renters. The 90-unit complex consists of studio and one-bedroom apartments.
The sellers were Haverstraw Place AIA LLC and Haverstraw Place LP. The purchase price was $8,176,637. Existing financing was assumed by the buyer.
Additionally a $2.5 million HALO loan was awarded to Sisters of Charity Housing Development Corporation by Rockland County under its new Affordable Housing Revolving Loan fund. The interest only loan runs through January 1, 2030, and carries a 2% interest rate, paid quarterly.
“Haverstraw Place is home to more than 90 seniors who will be able to age in place, remaining in their broader community because of the County’s investment,” said Matthew Janeczko, CEO & President of Sisters of Charity Housing Development Corporation.
