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RMS closes record multi-family sale in Westchester

RMS Companies has sold its luxury Stratus on Hudson rental building to Ginsburg Development Companies for $39.5 million.

The sale price is one of the highest multi-family price per unit sales in Westchester

The 74-unit luxury rental building located at 1077 Warburton Avenue in the Greystone neighborhood of northwest Yonkers was completed last year.

MARTIN GINSBURG

 “GDC has a lot of history in the Greystone area going back to the 1960’s and have built six projects in this community. Randy Salvatore built a building that meets the high-quality brand standards of GDC Rentals, so it was a natural fit for our portfolio,” said GDC Principal Martin Ginsburg

Stratus on Hudson features a rooftop sun deck with lounge seating, an outdoor bar, wide screen television, and breathtaking views of the Hudson River looking up and down the river toward the New York City skyline.

Other amenities include a club lounge party room with billiards, a fitness center, indoor garage parking and a location that offers a three-minute walk to the Greystone Metro-North station.

GDC will offer Stratus residents access to The Spa at River Tides and other programming offered at the larger 330-unit full-service building.

The apartments at Stratus feature 9.6 ft. ceilings with 8-foot panoramic windows with many river views; LVT plank flooring with herringbone pattern carpeting in bedrooms;  designer kitchens with stainless steel appliances, high gloss grey and white cabinets and quartz countertops; large walk-in closets; a washer and dryer in every unit; and spa inspired bathrooms with glass shower enclosures.

Stratus marks the 10th property owned by various GDC entities and managed by GDC Rentals.  In addition to Stratus, River Tides and 1177, the properties include The Lofts on Saw Mill River in Hastings-on-Hudson, The Metro in GDC’s City Square complex in White Plains, Harbor Square in Ossining, Fort Hill Apartments in Peekskill, The Landing on Mohegan Lake, and Parkside and Riverside on the Hudson River in Haverstraw.

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