CBRE Brokers $31M Sale of Multifamily Property in Poughkeepsie, New York

by Taylor Williams

POUGHKEEPSIE, N.Y. — CBRE has brokered the $31 million sale of Grand Pointe Park, a 156-unit multifamily property located about 80 miles north of Manhattan in Poughkeepsie. Built in 1997, Grand Pointe Park offers one-, two- and three-bedroom units and amenities such as a pool, fitness center, lounge, dog park and a playground. Jeff Dunne, Richard Gatto, Fahri Ozturk, Eric Apfel, Stuart MacKenzie and Zach McHale of CBRE represented the seller, Avanath Capital Management, and procured the buyer, New Jersey-based investment firm Lexington Property Group, in the transaction. The new ownership plans to execute a value-add program.

You may also like