The Nickolai Group at Prudential Douglas Elliman has been selected as the exclusive listing agency for Woodbury Village, a 130 acre site located in Harriman, New York, adjacent to Woodbury Commons.
The property has been designated to be the largest transit oriented development project in the State of New York. Located half a mile south of Exit 16, it is bordered by the New York Thruway (I-87) and Conrail to the east, Route 17M and Averill Avenue to the West & North. Ninety thousand (90,000) vehicles pass the site daily.
Woodbury Village can accommodate approximately 2,000,000 s/f of office, retail and multifamily development. In addition, there will be a conference and hotel facility. Public amenities will include community space for arts and cultural organizations, entertainment venues and a contemporary public park inspired by 19th century landscape architects Olmstead and Vaux.
Portions of the site are mandated to remain as open land. Woodbury Development, LLC is the owner of the site. Irene Nickolai, Martin Holland, Joe Zimet and Robert Knafo will be working on the transaction.
Transit oriented development projects began picking up within the last decade as a solution to increasing traffic congestion, pollution and environmental concerns. The goal is to build communities clustered around mass transit hubs that provide the option of walking rather than driving to arrive at one’s destination.
Transit oriented developments also tend to follow very strict design guidelines to ensure that the appearance of the community is uniform. This has made them amongst the most desirable communities in which to live, work and shop.
The Nickolai Group will begin marketing efforts on July 14th.The property is expected to bring in $15 million.