Kingston, NY The Oak & Avery Group completed the sale of Woodland County Apartments, a 46-unit multifamily complex. Anthony Watkins, president, and David Algarin, vice president, represented both the sellers, Woodland Commons LLC, and the buyers, Ari Goldstein & Evan Weber, in the $5.8 million transaction, while Abie Kreitenberg of Mansfield Equities procured the debt.
“Having been under long-term ownership, the property presented significant upside to the next owner. There was a lot of competition for this asset, mostly amongst NYC-based bidders. This sale is indicative of the strong demand for multifamily product in the Hudson Valley,” according to Watkins and Algarin.
In a second transaction, The Oak & Avery Group also handled the sale of a 16,000 s/f mixed-use building, located at 614 Saw Mill River Rd. in Yonkers. Watkins and Algarin represented both the seller, Don Beniamino, and the buyer, Belfast 12 LLC, in the $2.975 million transaction.
“Office and retail assets with the right tenants in the right locations are still desirable. With strong historical occupancy, the building was delivered 100% occupied and at a healthy cap rate with upside,” according to Watkins and Algarin.
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