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| Hudson Park community, Hudson River, Downtown Yonkers, NY |
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| 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.
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| 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 | www.hfflp.com
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