5/8/2009

New Rochelle, NY: May 2009 - HarborView acquired a 44-unit, 6-story apartment building in the Echo Bay section of New Rochelle, NY. The property was purchased from a long-term owner for $4,750,000. The project was financed with the First National Bank of Long Island.

The property is well-situated on Franklin Avenue near Hudson Park Beach and Marina. The upper floor residences boast views of Long Island Sound. There is on-site parking and 14 under-building garages. HarborView plans significant renovations to apartments and common areas. HarborView will manage the property from its Larchmont office.

HarborView will continue to acquire mid-range apartment buildings in the New York metropolitan area.