Adirondack Capital Partners arranges sale of 96-unit Ridgeview Townhomes & Apartments

Wilton, NY Adirondack Capital Partners (ACP) negotiated the sale of Ridgeview Townhomes & Apartments, a 96-unit multifamily community located at 23 Northern Pines Rd., to Yakar Partners, for an undisclosed price.

Michael Hunter Coghill, Brittany Feinberg, Chad Sinsheimer and Jacob Brenner of ACP represented the seller, Ridgeview Townhomes LLC, and procured the buyer in the transaction.  

Built in 2014, Ridgeview Townhomes & Apartments is a modern residential community situated on more than nine landscaped acres just minutes from downtown Saratoga Springs. The property consists of 96 residential units across a combination of apartment and townhome-style residences, along with five ground-floor commercial spaces.  The community features spacious residences with modern finishes, attached garages and private terraces, as well as convenient access to Interstate 87.

“This transaction reflects the continued depth of investor demand for high-quality multifamily assets throughout the Capital Region and, particularly, the Saratoga Springs market,” said Michael Hunter Coghill, managing partner of ACP. “Ridgeview combines strong in-place performance, a high-quality physical product and an exceptional location in one of Upstate New York’s most desirable and supply-constrained residential markets.  We were pleased to represent ownership in the sale and bring the transaction to a successful close.”

Ridgeview benefits from its proximity to Saratoga Springs and the region’s major employment, retail and recreational destinations.  The surrounding market is supported by a diversified employment base spanning health care, education, advanced manufacturing and technology, including the nearby GlobalFoundries semiconductor campus in Malta.

The sale underscores continued institutional and private-capital interest in Upstate New York multifamily properties, as investors seek well-located assets in markets characterized by stable rental demand, limited new supply and long-term economic growth.

Credit: Adirondack Capital Partners