HARBORVIEW ANNOUNCES ACQUISITION AND NEW MANAGEMENT OF THE RESIDENCES AT RIVERHILL 59 APARTMENT COMP
HarborView Properties has announced the acquisition of a 29-unit apartment complex formerly known as Waldron Heights Apartments located at 16-18 Waldron Avenue in the Town of Clarsktown and Central Nyack, NY. The property has been renamed The Residences at Riverhill 59. The Residences at Riverhill 59 is just off Route 59 and one exit from the new Tappan Zee/Governor Mario Cuomo Bridge.
The Residences at Riverhill 59mconsists of all 2 and 3 bedroom apartments. The property was originally built in the mid-1970's and is solid brick and masonry construction. HarborView plans to make major capital improvements to the property over the next few years including building-wide improvements as well as individual apartment renovations.
According to Dale Kaufteil of HarborView Properties, "The Riverhill meets our typical acquisition guidelines. What drew our attention to the property were the low rents; the favorable mixture of all 2 and 3 bedroom units; the absence of any rent controls and the centralized location".
HarborView will handle the management, leasing and renovation work.
To discuss this or other potential acquisitions call 914-834-4488.