News

Coladonato of Pyramid’s Hudson Valley office completes lease of Warwick Motel in Warwick, NY


Date Posted: August 11, 2014

Acting as sole brokers, Hudson Valley’s John Coladonato and Stephen J. Perfit, CCIM, SIOR completed a lease of the entire 23-unit Warwick Motel located in the Orange County Town of Warwick, NY.  Coladonato, who had listed the motel for sale, received an offer from the perspective tenant through Perfit for a short-term lease which worked out well for both parties.

“The owner can wait to see if one of the highly anticipated casinos will be coming to Tuxedo. If so, the lease would end right around the time the casino would be opening,” said Coladonato “and that would change the value of this property in a big way. If not, it’s still a good deal for the only hotel in the Village of Warwick.”

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