Mohegan Lake in New York Commercial Property at RealProspex™

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Type: Development/Condo-Conversion

DEVELOPMENT OPPORTUNITY - Mohegan Lake, NY

PROPERTY ID#:	23474
PRICE:
LOT SIZE:
PRIMARY TYPE:	Development/Condo-Conversion
SUB-TYPE:
CAP RATE:
NOI:
BUILDING SIZE:

Contact Broker

John Barrett

Basic Member

Massey Knakal Realty Services

P: 212-660-7714

Description More Details

Subject property is a rectangular development site on Lexington Avenue between Main Street/Route 6 and Red Mill Road in the Town of Cortlandt. Zoning R-40 requires 40,000 Square Foot Lots for each single family home site. The development site is adjacent to a 53 acre development parcel with a sub division plan for 24 luxury homes. All zoning and square footages and uses must be independently verified

Type: Multi-Family

3469 & 3489 Lexington Avenue - Mohegan Lake, NY

PROPERTY ID#:	34963
PRICE:	$7,960,000
LOT SIZE:	12 acres
PRIMARY TYPE:	Multi-Family
SUB-TYPE:
CAP RATE:	7%
NOI:	$557,660
BUILDING SIZE:

Contact Broker

John Barrett

Basic Member

Massey Knakal Realty Services

P: 212-660-7714

Description More Details

2 Apartment complexes consisting of approximately 12 acres of prime land. Cortlandt Homes is a 6.77 acre parcel and Carol Way is a 5.24 acre parcel. There are a total of 56 apartments and 1 management office. The complexes include 17 garden style buildings with a total of (35) one-bedroom, (18) two-bedroom, (2) three-bedroom and (1) fourbedroom apartments. Current apartment operations are very strong and have increased at a minimum of 3-4% annually over the last few years. The property generates gross rents of $878,000 per year, and a Net Operating Income of over $558,000 per year. None of...

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