Harbor Team Pays $54 Million For Rockland County Residences

Harbor Group International paid out $54 million for an condominium complicated in Rockland County, amid the ongoing robust suburban housing market.

The offer for the 169-unit neighborhood at A person Crystal Hill Generate in Pomona penciled out to close to $319,500 a unit.

The vendor was a joint enterprise of Spirit Expenditure Companions and the Bascom Team. A workforce led by CBRE’s Jeffrey Dunne and Gene Satisfaction represented the seller.

Recognized as the Henry flats, the complex was created in 2001, and is just east of Harriman State Park and just west of the Hudson River. Facilities include things like a pool and sundeck, clubhouse, billiards home, conditioning centre and basketball courts.

Spirit and Bascom secured a $30 million refinancing on the property in 2018 from Ares Management.

Single-relatives residence product sales in Rockland rose 34.5 p.c in the first quarter from a 12 months ago, in accordance to the Hudson Gateway Realtors Affiliation.

Harbor, led by Jordan Slone, has $13.5 billion in belongings under management, according to the company. In April, the financial commitment company compensated Chetrit Team $390 million for a 5,400-device apartment portfolio throughout 5 states.