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PDI Purchases 108 Route 303 In Tappan For $79 Million
The 54-acre industrial property at 108 Route 303 in Tappan was purchased by Prochain, LLC for $79 million. The seller was a consortium of Brooklyn and New Jersey-based investors who held the property as tenants-in-common.
Prochain is a Delaware LLC, affiliated with Professional Disposables International, Inc. (PDI) of Woodcliff Lake, NJ. Prochain leased the property to PDI for a 10-year term.
The industrial building is 337,000 square feet. Plans for the property include the upgrade of the existing facility to serve as PDI’s raw material storage and additional distribution facility as well as providing expansion manufacturing capacity for PDI. Planned improvements include replacement of the existing roof.
The Rockland County IDA authorized a package of benefits as an inducement for the project, including sales tax exemptions of approximately $217,750 on the $2,600,000 cost of construction materials, and a mortgage tax exemption for up to $75 million in financing. It also authorized a PILOT agreement.
PDI specializes in the manufacture and distribution of infection prevention products.
Nice-Pak and PDI are closely related, family-owned companies and global leaders in pre-moistened wet wipes. Nice-Pak is the parent/sister company focused on consumer, retail, and commercial wipes, while PDI serves as the healthcare and infection prevention division.
The site, constructed in 1972, was formerly occupied by the Chrysler Parts Depot (also known as the Stellantis/Mopar Parts Distribution Center. FCA US LLC (formerly Chrysler Fleet Division) sold the property to Tappan 108 Owner, LLC (affiliated with the seller) in July 2023 for $49.6 million.
Former Monsey Girls School On Gibbs Court Sells For $4.64 Million; Condos Approved
Mosdos Sanz Klausenburg of Monsey sold the property at 5 Gibbs Court in Monsey to Gibbs Gardens, LLC for $4.64 million. The property currently houses a girls religious school.
Mosdos, a religious organization, sought and received Attorney General approval for the sale. According to its petition, Gibbs Gardens is owned by Juda Klein. The bulk of the proceeds of the sale will be used to purchase 86 Highview Road in Suffern for use as a girls religious school. AG approval was secured on June 6.
Financing for the Gibbs Court purchase was provided by Northeast Community Bank in the amount of $2.74 million. Northeast also provided a building loan agreement in the amount of $5.094 million for the construction of two buildings on the site – each to contain 6 condominium units, for a total of twelve units on the half-acre site.
The plan at 5 Gibbs Court includes the subdivision of the half-acre lot into two lots and the construction of a three family dwelling plus three accessory apartments on each lot. The existing school on the property will be demolished. The lots are in the R-15C zone.
Monsey Center Project On Route 59 & Saddle River Road Sells For $10 Million
The automotive property at 109 Route 59 in Monsey sold for $10 million. The seller was Monsey Center LLC. The buyer is NY 59 Owner LLC. NY 59 Owner is managed by Chaim Wiesenfeld. Wiesenfeld is affiliated with the VAJA Group and City Wide Builders.
The property sits on the southeast corner or Route 59 and Saddle River Road.
Financing in the amount of $6 million was provided by Northeast Community Bank.
In 2023, Brooklyn-based Monsey Center LLC sought site plan approval and variances for demolition of the existing building and construction of a new three-story, 30,000 square foot retail building on the 1.04 acre lot.
The owner sought and received variances for front and rear yard setbacks, development coverage, parking and loading berths.
The Rockland County Department of Planning disapproved the application, saying (among other reasons) that: “Development requiring a parking variance of this magnitude along a major and active roadway cannot be permitted.”
The County also said the project was not in concert with the existing zoning (which called for mixed-use) and the town’s Comprehensive Plan.
Back in 2022, the town planning board classified the proposed action as an Unlisted SEQRA Action, determined that preparation of an environmental impact statement was not required and that a SEQRA negative declaration would be issued.
Spring Valley Strip Center Sells For $2.9 Million
The retail strip plaza at 269-303 North Main Street in Spring Valley sold for $2.9 million. The seller was Hillcrest Land LLC. The buyer is Brooklyn-based Hillcrest Plaza North LLC.
Financing in the amount of $1 million was provided by Anbel Enterprises ($750k) and J&J Capital Realty Associates ($250k). Hillcrest Plaza North LLC is managed by Mordechai Levy.
The strip center is on two tax lots totaling just over two acres, and is home to several small local retailers.
A restrictive covenant was placed on the property, preventing the transfer, assignment, or encumbrance of the property without the express consent on Joseph Tepfer, an interested person.
