The Landing on Mohegan Lake Ginsburg Development acquires another Westchester County property, The Landing on Mohegan Lake.

NEW YORK CITY—Ginsburg Development Companies has purchased The Landing on Mohegan Lake, located at 209 New Chalet Dr. in Mohegan Lake, NY. The 207-unit, multifamily property was sold for $55 million, according to industry sources. The seller was an international investment advisor.

The property was built in three phases from 1989 to 1999, with amenities including a clubhouse, fitness center, outdoor pool, sundeck, and oversized apartments. Westchester County has experienced rental growth averaging over 3.1% since 2011. CBRE attributes this to a limited new supply in the region, citing a high barrier for new construction.

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Betsy Kim

Betsy Kim was the bureau chief, East Coast, and New York City reporter for Real Estate Forum and As a lawyer and journalist, Betsy has worked as the director of editorial and content for LexisNexis, a TV/multi-media journalist for NBC and CBS affiliated TV stations in the Midwest, and an associate producer at Court TV.

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