Harbors at Haverstraw: Parkside Building Update

Hey there everybody,

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Back to business, you might be familiar with the large yellow, unfinished building that is in the front of the Harbors at Haverstraw development. I got word from my sources that the reason why this building stopped it’s construction progress months ago, was that the financing from Key Bank was on hold. Not only that, Ginsburg Development Corporation (GDC) actually built 25% of the building on it’s own dime! Again, my sources revealed to me that the financing is now in place and construction will resume soon and the building will be completed in late 2010 early 2011.

The only other important bit of information is that these units will be available for rent with an option to purchase. I think that is a great alternative in this economic climate to have the ability to rent first before you commit to buying, especially when so many people are getting laid off from their jobs. However, keep this in mind, I would NOT be surprised at all if this building eventually was only available for purchase and NOT rent. Why you say? Because the Bayside building is now sold out and by the time this building is for sale, the market might have all ready picked up and GDC might pull that offer off the table. The unofficial price of a 1 bedroom condo, according to my sources will be $350,000. Everything else is still up in the air. I also heard that the rental price of a 2 bedroom unit might be upwards of $3,000 per month. Remember this is all preliminary but you heard it here 1st!!!

Check out my video to see what I’m blabbing about…

Until next time,

Adam Stein - Broker Associate - Wright Bros. Real Estate - 845.323.9709 - www.harborsrealtor.com