Orange County purchased the property in 2007 for $8.5 million. Since then, several private redevelopment proposals failed to secure necessary approvals…
Norges Bank Investment Management will pay $542.6 million for its 95% ownership interest, valuing the property at a gross value of $571.1 million.
The new “Allied Health and Natural Sciences Life Sciences Center” will feature modern instructional labs, lab support areas, faculty offices, general classrooms, student spaces, and campus services.
Father and son share prestigious economic development award as result of Chartwells campus expansion in Rockland County.
Rand Commercial recently congratulated Paul Adler and Samuel Adler for Receiving the Hudson Valley Chapter of the New York State Commercial Association of Realtors Economic Development Dealmakers (HV West) Award for 2023!
Paul Adler, Esq., SIOR, left, and Samuel Adler, Rand Commercial
Paul Adler, Esq., SIOR and Samuel Adler were awarded the Economic Development Award for the successful transaction they brokered in connection with the sale of 25 Hemlock Drive in Congers (Rockland County) from the Triangle Squared Realty Hemlock, LLC to Chartwell Pharmaceuticals for $13,479,000
“After 45+ years in the commercial real estate business, I am most proud of this deal for what it will bring to the local and New York State economy and humbled to share this award with my son Sam,” said Paul Adler, Chief Strategy Officer of Rand Commercial.
The vacant 81,000-square-foot Class A industrial flex building sits on 7.5 acres, and the acquisition was part of Chartwells campus expansion. This acquisition was a huge win for economic development for Rockland County, and should yield up to more than 300 jobs for the area.
Norges Bank Investment Management will pay $542.6 million for its 95% ownership interest, valuing the property at a gross value of $571.1 million.
The acquisition of the two adjoining properties represents a strategic opportunity to create a best-in-class new building on a prominent development site in the heart of Midtown East.
Cloudbound joins PXG Westchester and My Salon Suite at 80–110 Nardozzi Place as well as LA Fitness and Dello Russo Laser Vision at Simone Development’s adjacent 70 Nardozzi Place.
Newton brings a unique blend of legal acumen and industry insight during a critical time of transformation for NAR and its members.
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