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New Windsor, Orange County, NY – Pyramid’s Hudson Valley office recently sold the long-established, turn-key Diana’s Restaurant & Catering facility in New Windsor, NY. The ±9,000 SF fully-equipped restaurant, which can accommodate up to 300 guests, sold in March 2014 for $500,000. Associate Brokers Stephen J. Perfit, CCIM, SIOR and Brain J. Coleman brokered the sale.
Town of Wallkill, Orange County, NY: Stephen J. Perfit, CCIM, SIOR, Senior Executive Director and Associate Real Estate Broker with the Hudson Valley office finalized a 10 year lease of 71,500 SF with the option to purchase at 225 Tower Drive in the Orange County Town of Wallkill, NY between Frassetto Companies (225 Tower Drive Associates) as landlord and United Technologies / Pratt & Whitney, Aerospace Division as tenant.
The total project will be a capital investment of $140,000,000 and has received an incentive package from Empire State Development and Orange County IDA.
Monticello, Sullivan County, NY - On November 28, 2013, Steve Perfit, Senior Executive Director and Associate Real Estate Broker with the Hudson Valley office of Pyramid Brokerage Company closed on the sale of Kutshers Country Club and Resort on 1,325 acres and 21 parcels for $9 million.
The purchaser, Veria International, is owned by billionaire Indian Media Mogul, Subhash Chandra, who intends to re-furbish and repurpose the resort and adjacent properties into a world class health and wellness center. The total project cost will be in excess of $90 million. Assisting Perfit, and working with the buyer, was Real Estate Salesperson Lynn Keller also with Pyramid’s Hudson Valley office in Newburgh, New York.
As an inducement for the sale, the Sullivan County Industrial Development Agency provided an attractive incentive package, which included partial real estate tax abatements through a 20 year PILOT and sales tax abatement.
Pyramid Brokerage Company’s Hudson Valley office and Acadia Hudson LLC, owner of One Civic Center Plaza, announced a lease renewal for PROMETRIC, an educational test development and delivery provider for academic, financial, healthcare, informational technology, and corporate and professional organizations headquartered in Baltimore, Maryland.
On behalf of PROMETRIC, Irene "Rene" MacPherson, Associate Real Estate Broker with the Hudson Valley office and Zubin David of Cassidy Turley, Baltimore MD, arranged a five-year lease renewal for the 1,066 square foot office on the fifth floor of One Civic Center Plaza located at 249 Main Mall, Poughkeepsie NY.
Mark Pastreich, owner of Acadia Hudson Properties, stated, "We are very pleased that PROMETRIC and their clients will continue to enjoy the amenities of One Civic Center Plaza and the convenience to the central business district with walkability to government, restaurants, retail, and the new Poughkeepsie Transit Hub which will provide a variety of ridership options."
MacPherson added that, "PROMETRIC’s decision to renew was based on the strong on-site management, 24/7 security, a quality tenant mix, dedicated parking, and a direct path to the new transit hub with links to the Hudson Valley."
BLM 57 LLC purchased the property from Rocklyn Companies, Inc. in August 2013 for $910,000 as an investment sale done as part of a 1031 exchange. Tom Lischak, CCIM of Pyramid Brokerage Company represented the Seller in this sale transaction.
The property was sold by David Propheter for $295,000 in September 2013. Kimani Smith of Pyramid Brokerage Company brokered this sale on behalf of the Seller in this sale transaction.
Gary Cottet of Pyramid Brokerage Company represented the Landlord, Skytop Realty LLC in this lease transaction.
Gary Cottet and Patrick Hillery of Pyramid Brokerage Company brokered this lease transaction.
Don O’Leary of Pyramid Brokerage Company represented the Landlord Willowood Park LLC in this lease transaction.
Housel Dermatology leased a 2,486 ± SF office space in July 2013.
Dr. Irum Tahir purchased the property in September 2013 for $238,000.
The Roman Catholic Church Diocese sold the property in September 2013 for $250,000. Joyce Mawhinney MacKnight and Jon Sayre of Pyramid Brokerage Company represented the Seller in this sale transaction.
The property is commonly known as the "Tinker Tavern" property.
In September 2013, Aldi leased 15,600 ± SF along with the naming rights to the plaza, Dollar Tree Store leased 9,700 ± SF and a 1,450 ± SF space is the new home for a State Farm Insurance office. Bill Evertz of Pyramid Brokerage Company, exclusive leasing representative for Aldi Plaza, represented the Landlord Marketplace Mall of Cortland in these lease transactions.
Anthony Hathaway and Rick Brower of Pyramid Brokerage Company represented the Landlord, TS New Hartford Partners Co, in a 1,200 ± SF store front lease at the property located at 4642 Commercial Drive, New Hartford, NY.
Express Employment Professionals, a staffing agency that provides full time and temporary job placement, human resources services and consulting, leased the space in September 2013.
September 2013: Representing the seller, Steve Perfit, Brian Coleman and Laurie Milano with Pyramid’s Hudson Valley office sold the Port Ewen Diner. Located in Ulster County at 295 Broadway (Route 9W) in Port Ewen, the diner has operated under the successful ownership and management of Nick and Sibbie Lemus for 14 years.
It has been a favorite for locals and travelers to the area. The new owners are locally based and look forward to re-opening soon with a similar operation.
August 2013: Representing the purchaser known as The Roseland Group, Pyramid’s Hudson Valley sales agent John Coladonato, who brokered the sale with SRS Real Estate Partners of NYC representing the seller, says he feels great that a long-time local family business stepped up and purchased this property.
The 40,000 square foot building on 11 acres, located at 325 Route 17M, has been vacant since September 2008 when Monroe Ford closed its’ doors. Coladonato said, “The right guys ended up with the property.” The Hagopian family, new owners of the site, have been serving the community for over 35 years. The property will be the new home of Apple Auto Body and Loyal Auto and Towing. Plans are underway for a grand opening by January 2014.
An investment property located on Collegeview Avenue in Poughkeepsie consisting of 3 street-level retail units + 3 second floor residential apartments sold in less than 100 days for $386,500. Laurie Milano and Brian Coleman of Pyramid Hudson Valley brokered the sale.
DSI Distributing Inc. leased 46,950 ± SF of industrial warehouse in August 2013. Crystal Rock, Inc. at 18,000 SF was the inaugural tenant last October. Paul Mackey and Gary Cottet of Pyramid Brokerage Company brokered both lease transactions on behalf of the Landlord Amparit Industries LLC. Three existing locations remain for lease.
Northern Industrial Holdings LLC purchased the property in August 2013 with plans to demolish the 230,000 ± SF facility and redevelop the 17.6 acre site with retail, industrial or multi-family development. Christopher Westfall of Pyramid Brokerage Company brokered the sale transaction and is also representing the new owner during the re-development phase.
Gary Cottet of Pyramid Brokerage Company brokered this lease transaction.
Larry Farnsworth and Oscar St. Onge leased the property August 2013 for their trucking business. Gary Cottet of Pyramid Brokerage Company brokered this lease transaction.
Peter Low sold the property in August 2013 for $371,500. Gary Cottet and Patrick Hillery of Pyramid Brokerage Company brokered this sale transaction.
Gary Cottet of Pyramid Brokerage Company represented the Landlord in this lease transaction.
Greg Hamel of Pyramid Brokerage Company represented the buyer in sale transaction.
Brian Balash, CCIM of Pyramid Brokerage Company brokered this lease transaction on behalf of the tenant.