Adirondack Capital Partners arranges sale of
McGregor Village Apartments for $30.75 million

Wilton, NY Adirondack Capital Partners (ACP) sold McGregor Village Apartments, a 212-unit multifamily community located at 1 Mountain Ledge Dr. The property was acquired by Elar Group from Bruce Tanski Construction for a purchase price of $30.75 million.

Michael Hunter Coghill and Chad Sinsheimer of Adirondack Capital Partners represented the buyer. Bruce Tanski Construction was represented in-house.

The sale included the assumption of attractive in-place agency financing originated by M&T Bank / Fannie Mae, featuring a 3.65% fixed interest rate with $16.5 million outstanding balance. The loan matures in January 2032, with 160 months of term remaining.

“McGregor Village represents the kind of high-quality, well-located multifamily asset that remains in strong demand among sophisticated private investors,” said Michael Hunter Coghill, managing partner at Adirondack Capital Partners. “We’re proud to have advised Elar Group on this strategic acquisition, particularly given the opportunity to assume exceptionally attractive long-term agency financing.”

“This transaction underscores the continued strength of the Saratoga County rental market and the appeal of assumable debt in an elevated interest rate environment,” said Sinsheimer. “We were pleased to help structure a deal that aligned with our client’s long-term investment objectives.”

McGregor Village Apartments provides one- and two-bedroom apartments with modern amenities, including fully equipped kitchens, air conditioning, and ample storage space. Residents can enjoy a range of community features such as a fitness center, a clubhouse and a playground. The acquisition reflects continued investor appetite for well-located, stabilized multifamily assets with favorable in-place debt.