POUGHKEEPSIE, N.Y. — Houlihan Lawrence Commercial Real Estate Group has arranged the $4 million sale of the former 155-acre Hudson River Psychiatric Center site on Route 9 in Poughkeepsie, a city located between New York City and Albany. Tom LaPerch and Steve Salomone of Houlihan Lawrence represented the sellers, Hudson Heritage LLC, in the transaction. The buyer, Diversified Real Estate Advisors, has plans to use the site as a mixed-use property combining commercial, hospitality and residential. Kevin McGrath of McGrath Realty represented Diversified Real Estate Advisors in the deal. Built in the 1800s, the site served as several New York hospitals before it closed in 2001.

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