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Ginsburg Development Companies Buys The Landing on Mohegan Lake

The Westchester County developer continues to expand with the purchase of a 207-unit multifamily property.

By Betsy Kim | Updated on November 29, 2017

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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