Hudson Hill Partners, a privately held and White Plains based investment firm, recently acquired five properties across the downtowns of Tarrytown and Hastings-on-Hudson for a total $4.6 million over the course of three separate transactions from local sellers. These acquisitions come shortly after Hudson Hill added properties from Ossining, Sleepy Hollow, and New Rochelle to the firm’s portfolio.
The mix-use properties are primarily residential, but do hold both commercial space as well, totalling to fifteen apartments and three retail units. One longtime vacant Tarrytown property, 17 N Washington, will undergo a conversion to add residential space. Since the warehouse is viewed as an unofficial historic landmark to Tarrytown residents, Hudson Hill is planning to give the building a new purpose and life while still maintaining its original charm through its redevelopment project.
38 & 42 Main Street, Tarrytown
“These transactions fall squarely within our strategy of acquiring properties within walking distance of the urbanizing downtowns and train stations of Westchester. We have been targeting these Westchester Rivertowns as they have been a magnet for downsizing Baby Boomers and younger generations leaving New York City,” says Hudon Hill Managing Director, Dan Bsharat. “We’re local investors, raised here in Westchester with a hope to remain part of the community for the long term. With that in mind, we are focused on maintaining as much of these building’s identity as possible, while upgrading their appearance and giving the interiors a modern, fresh facelift.”
Each property lays within a ten minute walk from the Hudson Line Metro North train stations.While some community residents may be worried about the demolishment or enlargement of the properties, all buildings will remain fully intact as they are. For now, the firm is awaiting permit approval and hopes to begin renovations in 2020.