Harbor Group JV Acquires Multifamily Community in Westchester County for $306M
A $9.2 million capital improvement program is planned.
Affiliates of Harbor Group International, LLC and Azure Partners acquired Avalon Green in Elmsford, NY in a $306 joint venture. HGI plans to implement a $9.2 million capital improvement program across the garden-style multifamily community to refresh amenities and common areas and modernize select interior units.
Built in three phases in 1995, 2012 and 2016, respectively, the property totals 617 units and features a mix of townhouses, apartment homes and stacked flats. A portion of HGI’s capital improvement program will focus on updating the interiors in Phase I and Phase II of the community to include contemporary finishes.
Located in Westchester County, Avalon Green offers residents commuter access to nearby employment centers, including New York City, Rockland County and Fairfield County. The property is near Interstate 287 and Saw Mill River Parkway, and is a 10-minute drive to the region’s Metro-North train station, providing direct service to Manhattan and Stamford, CT. Westchester County also features several notable corporate campuses, including IBM, PepsiCo, Mastercard, Morgan Stanley and Regeneron.
Amenities offered at the property include two saltwater swimming pools, a clubhouse and resident lounge and detached garages.