An affiliate of Harbor Group International (HGI) has acquired a 169-unit luxury apartment
community in Rockland County for $54 million.
CBRE brokered the sale of The Henry at 1 Crystal Hill Drive
in Pomona, NY. Jeffrey Dunne, Gene Pride, Jeremy Neuer, Steve Bardsley, David
Gavin and Travis Langer represented the seller, a joint venture between Spirit
Investment Partners and The Bascom Group, while also procuring the buyer.
“HGI is highly familiar with the Rockland County market
given their past ownership of Alister Nanuet. The Henry is a terrific
opportunity to apply their management expertise and local market knowledge.
Renters are increasingly looking for larger apartments in suburban locations,
which bodes well for continued strong performance at the asset,” commented
Pride.
Added Dunne, “We are pleased to represent Spirit Investment
Partners and The Bascom Group in the sale of this asset. They did a fabulous
job renovating the clubroom and apartments. The offering received significant
interest from a broad group of investors considering the quality of the asset
and site constrained location.”
Pomona is a Rockland County community offering an abundance
of outdoor recreation, easy access to local and national restaurants and
breweries while being centrally located to employers throughout the region.
Built in 2001 and recently renovated, the highly amenitized community features
a resident clubroom, pool and sundeck, billiards room, fitness center and
basketball courts. The apartments have designer finishes with granite
countertops, plank flooring, stainless steel appliances, tile backsplash and
updated hardware and lighting.
