Wednesday, October 21, 2015

Sale of waterfront multi-housing community in downtown Yonkers, NY closed by HFF

Hudson Park community, Hudson River, Downtown Yonkers, NY

Jose Cruz
FLORHAM PARK, NJ –  Holliday Fenoglio Fowler, L.P. (HFF) announced it has closed the sale of Hudson Park, a multi-housing community situated along the Hudson River in downtown Yonkers, New York.

HFF marketed the property on behalf of the seller, a joint venture partnership between Collins Enterprises LLC and Berkshire Group.  Strategic Capital was the purchaser.

Overlooking the Hudson River waterfront in downtown Yonkers, Hudson Park is situated at the Yonkers Metro North commuter rail station, which provides access into Manhattan’s Grand Central Station.

 The property consists of three components: Hudson Park South, Hudson Park North and the to-be-built Hudson Park River Club.  Completed in spring 2003, Hudson Park South has 266 one- and two-bedroom luxury apartments and approximately 15,500 square feet of well-leased office and retail space.

 Hudson Park North, the second phase of the development, was completed in spring 2008 and has 294 one- and two-bedroom luxury apartments, as well as a free-standing parking garage.

  In addition, the property includes a 0.23-acre land site with approvals for a 23-story, 213-unit apartment building that will include an 8,200-square-foot amenity space on the ground floor.

Andrew Scandalios
 The ground breaking for this development occurred in mid-September with an expected completion date of mid-2017.  The completed residential component of Hudson Park is 98 percent leased.

The HFF investment sales team representing the seller was led by senior managing directors Jose Cruz and Andrew Scandalios, managing director Kevin O’Hearn and associate directors Steve Simonelli and Michael Oliver.  Shearman & Sterling LLP provided legal counsel to Strategic Capital during the transaction.

“The entrance of foreign capital into the Westchester market, and more specifically Yonkers, is an example of how the investment community perceives the submarket to have significant growth,” stated Cruz. 

“The level of interest in the property was very high given the quality of the buildings, additional development rights and location along the train line.”

For a complete copy of the company’s news release, please contact:

Olivia Hennessey
Public Relations Coordinator
HFF | 9 Greenway Plaza Suite 700 | Houston, Texas 77046
tel 713.852.3403 | fax 713.527.8725 |

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