“Dynamic” describes the construction boom in A looklandscape of residential apartments. Construction cranes in several parts of the city are erecting new steel foundations and beams at a breakneck pace.
Over 400 new units are currently under construction and another 400 are under review and potentially in preparation. It is more than 800 units which could increase the housing stock of the city in the years to come. [Editor’s note > See the December issue of River Journal North for a complete rundown of projects.]
The most recent company entering the Peekskill development landscape is a Rockland County company that bought one of the last large plots in town.
Peekskill Views LLC, situated at Spring Valley, paid $ 1.1 million to purchase 13 acres of land on Frost alley. The property was sold by the Borbely family, who owned the land for many years.
The empty and heavily forested lot is behind the townhouses that make up Pataki Farms, a development that the family of the former governor built decades ago.
Peekskill Views LLC lists an office address of 1041 East 22sd Saint in Brooklyn. Nathan Kahn of Sunrise development and management is listed as a managing member of Peekskill Views. Kahn’s practice has been involved in the development of active communities of older adults in Connecticut.
A mortgage of $ 700,000 for the purchase of the land was granted by Capital of Ditmas Park of Lakewood, New Jersey Ditmas Park Capital is led by Barry hertz. His brother, Rabbi Meir Hertz, is a controversial figure who led the Lakewood Tenants Organization in Lakewood for several decades. Rabbi Hertz runs the Section 8 program in Lakewood, paying himself several hundred thousand dollars a year, according to tax filings. He also runs a boys’ school, Tashbar of Lakewood. The brothers developed luxury homes in New Jersey.
At the east end of Frost Lane is section 8, development of low-income people Stuhr Gardens, which contains three three-story and four two-story buildings, totaling 104 units on an 8.5-acre site on Avenue de Vail. Peekskill Industrial Development Agency authorized a $ 7.2 million bond issue in 2007 to finance the sale and renovations of Stuhr Gardens.
Just north of the Peekskill Views property, on the road to North Division Street, another developer wants to build six single-family homes and a 42-unit condominium project, called Acres Mountain View, on 16.4 acres on Lockwood Avenue, behind The Hat factory.
An ambitious project planned for the north side of Peekskill never got off the ground and faces foreclosure by its lender.
Brooklyn-based developer Perl Weisz, of CW Real Estate Group, bought the old one White Plains Linen buildings on Highland Avenue in April 2018 from Botchman family, owners of White Plains Linen, and announced plans to build 100 apartments and a boutique hotel on the property.
However, the project lender, ConnectOne Bank of Englewood Cliffs, New Jersey, filed a foreclosure notice in July against the property for mortgage payment of $ 875,000.
According to court documents, the developer did not make mortgage payments in April, May and June of this year. Payments for property taxes, water and sewer charges were also not paid.
White Plains Linen, Peekskill’s largest private employer, now operates from its building on Boulevard John Walsh To Charles Point.
Another based in Rockland the developer’s redevelopment of a Peekskill building appears to have stalled.
The Riley Building, in the city center in front of Peekskill Cafe, was purchased in 2018 from Keith and Christine Bobolia through 104 South Division LLC, based in Spring Valley. The transaction was financed by a mortgage of $ 650,000 granted by J&J Capital Realty Associates LLC of the Spring Valley.
The developer director, Avrum Chaim Lebrecht, requested city approval to renovate the first-floor commercial spaces and convert the existing upper-floor commercial spaces into nine apartments.
The developer has obtained a building permit in May 2019 to complete approximately $ 425,000 in renovations. This one-year license expired in May 2020.
A second permit was authorized in February this year for construction on the roof, for an HVAC system and the installation of a roof hatch. Three years after the purchase of the building, the work seems to be at a standstill and no apparent construction is underway.
Phone calls to Ditmas Park Capital, Lebrecht and Perl Weisz requesting comment were not returned at press time.
Jim Roberts is a freelance business journalist based in Peekskill.