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| Tower I at Monarch at Ridge Hill condos, Westchester County, NY |
YONKERS, N.Y., Aug. 30, 2013 – Institutional Property
Advisors (IPA), a multifamily brokerage division of Marcus & Millichap
serving the needs of institutional and major private investors, has arranged
the bulk sale of the remaining 90 units
in Tower I at Monarch at Ridge Hill,
a 163-unit luxury condominium complex located in the heart of
Westchester County.
 |
| Victor Nolletti |
The sales price of
$26.5 million equates to $294,712 per unit.
IPA
senior vice president investments Victor Nolletti, IPA senior vice
president investments Steve Witten and Jacob Levy, a Marcus &
Millichap first vice president investments, advised the seller, Horizon at
Ridge Hill LLC. Nolletti, Witten and Levy also advised the buyer, UOB Eagle
Rock Multifamily Property Fund LP.
J.D. Parker,
first vice president in Marcus & Millichap’s Manhattan office, is the
firm’s broker of record in the state of New York.
 |
| Steve Witten |
Built in 2007, Monarch at Ridge Hill is
located just 11 miles from the George Washington Bridge and only 16 miles from
Manhattan’s Upper West Side.
Monarch at Ridge Hill is a “New Urbanism” residential
development that combines traditional planning and modern technology.
Nestled within a hilltop village with sophisticated
shopping, dining and entertainment, the property is set in a
pedestrian-friendly neighborhood with a mix of open spaces, everyday
conveniences and activities within a five-minute walk.
 |
| Jacob Levy |
The mid-rise steel,
concrete and glass building features high-quality luxury interior finishes,
expansive residences with private balconies and spectacular views.
Tower I
is part of a master development that provides walking access to healthcare,
Whole Foods, high-end retail stores and restaurants of every variety.
For a complete
copy of the company’s news release, please contact:
Gina Relva
Public Relations Manager
(925) 953-1716
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