This unique project is the proud cornerstone of The Harch Group’s continuing strategy of finding value-add opportunities while simultaneously cash-flowing the project. In 2014, the project was acquired in a joint venture with PMG (Property Markets Group) for $40 million along with some major environmental remediation risk and long-term tenancies in place. All tenants were relocated and all environmental sign offs were achieved. Planning is underway for a yet to be announced world-renowned architect that has designed a unique collection of luxury residences along with art gallery space on retail level. Project is slated to break ground Summer 2015.
Acquired in 2007 and designed as a 44-unit condo project by the world-renowned firm ILA Architect. Even during the financial downturn in 2008, the project had sold 40% of its units to high profile buyers. Upon the financial meltdown, the project’s funding seized and the project stalled for a few years. In 2011, The Harch Group repositioned its debt and equity with a 3-way joint venture along with GGP (Glacier Global Partners) and IGI (Izaki Group). As with all its other projects, The Harch Group’s mission statement is to see all projects through to completion, as such, current sales are underway for this magnificent newly updated design by Eran Chen of ODA for a 31 unit luxury condo project, along with some adjoining town houses and multiple duplex town houses. This project is currently over 85% sold in contract, and in final completion & in delivery phase for 1st quarter of 2016.
In the end of 2015 The Harch Group closed on this approx 30,000 sf project in a joint venture with a high net worth private investor, as the Meatpacking district prime corridor moves down south on Washington St, with the opening last year of the new Whitney Museum, and millions of visitors a year entering the highline park steps away from this project, a long term vision approach was put in place, with the current tenant in place cash flowing the asset on a short term basis. With the potential of additional air rights, as well as a complex process of navigating thru the Landmarks & Preservation Commission (LPC) approval process, this project is precisely the type of challenge that the Harch Group has taken comfort in over the years to deliver upon with the most talented & sophisticated team of consultants & starchitects.
Phase 1 of Golden Triangle includes 195 residential townhouses in addition to 500,000 square feet of retail and commercial space. Currently pending city approvals for Phase 1, Golden Triangle is located at the intersection of Route 17 and Route 211 across from the Galleria and Orange Plaza Malls in the city of Middletown, NY.
Acquired in 2014 in an off-market transaction, this occupied loft building along had additional development air rights and faces the renowned highline park in the hip West-Chelsea neighborhood. Harch Group’s value-add strategy of curing some minimal environmental work along with tenant buyouts, Harch sold its interest to a joined venture of boutique NYC developers.
Just 16 single family homes on generous one to six acre lots make up The Estates at Ashby Hills. Nestled in the softly rolling landscape of Southern Dutchess County in the picturesque town of Beekman and surrounded by acres of pristine horse land, Ashby Hills is a pastoral oasis. Homes with floor plans up to 3,000 square feet are constructed with the finest features and amenities including two story entrance foyers, beautiful fireplaces, custom wood cabinetry, and granite and tile finishes.
Northchester Woods is a private, wooded cul-de-sac community tucked into the natural countryside setting of the town of Beekman just minutes from Taconic State Parkway and many commuter routes. Twelve finely constructed beautifully appointed mansions for just under $1 million offer elegant entertainment and private spaces, including master suites with private sitting rooms, a library and covered porches as well as basements and walk out verandas. Floor plans range from 3,000 to over 4,000 square feet.
46 single family homes are located in the ideal country setting of Middletown in Orange County. Presidential Ridge is just 75 miles from New York City and only 20 minutes from Stewart International Airport. These distinctive homes are set on over one acre of land and offer elegant amenities such as fireplaces and generous front and rear decks. Floor plans range from approximately 2,500 to 3,500 square feet.