Data shows that from 1996-2021, the Hudson Valley region lost a net total of 146,763 people to out migration, which calculates out to 5% of the Hudson Valley’s population.
Elected officials, seeking to appease vocal constituents, frequently uphold restrictive zoning laws that favor single-family residences over more diverse housing options.
In 2023, the Rockland County Office of Consumer Protection investigated 617 complaints and returned $66,000 to homeowners.
NEW CITY—The KABR Group and joint venture partner BTF have recently completed the $30-million purchase of the 125,110-square-foot New City Shopping Center, located at 78 North Main Street here.
The retail site is currently 96% leased that is anchored by a ShopRite grocery store. KABR and BTF report they are planning a comprehensive modernization of the shopping center. The grocery anchored retail asset currently contains a complementary tenant mix with strong demographics, traffic counts and access. The new ownership is looking to transform the property into the premier retail destination in the trade area.
“KABR is thrilled to partner with BTF and acquire a premier grocery-anchored retail location,” said Adam Altman, co-founder and Managing Member at KABR Group. “The access and demographics make this an exceptional location for retailers,” said Ben Malinsky of BTF.
The JLL Capital Markets Investment Sales and Advisory team that represented the seller was led by Jose Cruz, J.B. Bruno, Kevin O’Hearn, Michael Oliver, Steve Simonelli, Andrew Scandalios and Austin Pierce.
“Investor demand for grocery anchored retail continues to remain strong as the stability of the current rent roll and future leasing upside provide a good yield with little downside exposure,” stated Cruz.
The New City Shopping Center is located directly off Route 304, which has an average annual daily traffic of 22,000 vehicles. The property is also near other local and regional roadways, including the Palisades Parkway and I-287. Approximately 67,500 residents live within a three-mile radius of the center.
Data shows that from 1996-2021, the Hudson Valley region lost a net total of 146,763 people to out migration, which calculates out to 5% of the Hudson Valley’s population.
In 2023, the Rockland County Office of Consumer Protection investigated 617 complaints and returned $66,000 to homeowners.
Located at 23 Mulberry St. in the Hollow neighborhood of South Yonkers, the $48 million, four-story building has 60 energy-efficient, affordable apartments for seniors.
“Today marks a significant milestone on the path to ensuring the success of our nation’s most vital infrastructure project,” said New Jersey Gov. Phil Murphy.
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