MONTICELLO-A portfolio of six garden-style apartment complexes in Sullivan County is on the market for sale for an asking price of $6.9 million.
New York City real estate investment firm Eastern Consolidated reports the properties, located in the Monticello area, are to be sold by New York City-based Elk Investors. The ownership has completed significant capital improvements throughout the portfolio over the past five years including new windows and sliding doors, new roofs, new propane gas lines and underground oil lines, exterior shingles and new boilers.
Eastern Consolidated Senior Directors Roberto F. Ortiz and Lipa Lieberman with Paul J. Nigido, senior financial analyst, are leading the sales effort.
“The complexes are each well-maintained cash-flowing assets close to main thoroughfares, highways and shopping centers,” says Ortiz. “They are all located within 20 miles of each other and contain a total of 232 deregulated units.”
The six communities on the market for sale are: Colonial Hill Apartments, Monticello; Greenwood Apartments, Monticello; Kiamesha Lake Apartments, Kiamesha Lake; Mountain View Apartments, Fallsburg; Belle Harbour Apartments, Woodbridge; and Liberty Manor Apartments, Liberty.
© Arc, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to TMSalesOperations@arc-network.com. For more information visit Asset & Logo Licensing.