Tudor Gardens Apartments at 29 Culvert St. and 103 Ryan St. in Port Jervis, New York — Courtesy: The Kislak Co. Inc.
By Joshua Burd
A private apartment owner has sold a 140-unit complex in New York’s Orange County for $14.25 million, according to a brokerage team with The Kislak Co. Inc.
Known as Tudor Gardens Apartments, the 50-year-old property in Port Jervis includes 15 buildings with a mix of one- and two-bedroom homes. The complex straddles two parcels, 29 Culvert St. and 103 Ryan St., for a combined 7.2 acres.
“As a result of our marketing efforts, we received multiple offers for the property and the purchaser provided the seller with the opportunity to identify a replacement property as part of 1031 exchange,” Kislak’s Matt Weilheimer said, noting that the community was fully occupied at the time of closing. He also cited Port Jervis’ appeal to prospective buyers and its location at the junction of New York, New Jersey, and Pennsylvania and about 90 miles northwest of New York City.
Weilheimer, an executive vice president with Kislak, represented the seller and procured the buyer. Neither party was disclosed.
