Real Estate Weekly | January 15, 2020
GFI Realty Services, LLC has announced the $35.3-million sale of 134 Innis Avenue, a 288-unit garden apartment complex located in Poughkeepsie, NY. GFI Realty Associate Director Josh Orlander represented the seller and Sylvia Spielman, also of GFI Realty, represented the buyer. Both the buyer and seller are local investors.
Constructed in 1966, the 150,156-s/f property featuring a mix of 187 one-bedroom units, 97 two-bedroom units and four three-bedroom units.
Poughkeepsie, located in the Hudson Valley in Dutchess County, is a post-industrial city on the rebound. The city is attracting thousands of tourists annually and developers are streaming into the area bringing about a mini residential boom.