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Newmark is pleased to announce it has been appointed the exclusive broker for the sale of the 44-acre Gateway Summit and the 100-acre Fairways in Carmel, New York. The property, which sits at 2054 Route 6 in Putnam County, comprises two separate sites each approved for 150 housing units that can be developed together or separately. The parcels are part of the Lower Hudson Valley region between the Hudson River and the Connecticut border. This scenic area is close to the many benefits of New York City and Lower Westchester but far enough to provide the quality of life of the Lower Hudson Valley. Newmark Executive Vice President Paul Ippolito and Senior Managing Directors Jennifer Schwartzman, David Noonan, and Lawrence Ruggieri are marketing the two sites for individual sale or for purchase together, in phases.
With fully approved development plans and municipal gas, water, and sewer at the site, the property is a premier, shovel-ready opportunity to create a strategically-located, active adult community with its own private 35-acre lake and golf course views. Approved plans include amenities such as a clubhouse that features covered and outdoor terraces, a pool, a gazebo, boat dock and tennis courts. These plans are complemented by local amenities including the recently completed 37-mile (Westchester/Putnam) bike and walking path, and new sidewalks that create a walkable connection to nearby restaurants, shopping and Lake Gleneida. The site adjoins the championship Centennial Golf Club, which features a 27-hole daily fee course.
The Gateway Fairways Active Adult Community is highly marketable to the many households age 55 and above currently living within 45 minutes. The bucolic charm of the historic hamlet of Carmel has attracted many retirees looking to downsize without changing their lifestyles. Located within the New York Metropolitan Region, just two miles from the Metro North train station, as well as Carmel’s accessibility via I-684 from the south and I-84 from the east and west, the sites will make this transition seamless. Gateway Summit and The Fairways are in close proximity of wealthy suburban communities in New York, Connecticut and New Jersey and a 15-minute drive from Westchester and Danbury shopping malls. Putnam County is the seventh-wealthiest county in the United States with a 2015 median income of $96,148. The project is less than 5 miles from the Westchester County line.
“According to third-quarter reports, new single-family home sales in the Northeast are their highest level since October 2007,” Schwartzman said. “Properties like Gateway Summit and The Fairways are rare opportunities for developers. It will be difficult, if not impossible to duplicate these projects and their density anywhere in the region.”
About Newmark
Newmark is one of the world’s leading commercial real estate advisory firms. Together with London-based partner Knight Frank and independently-owned offices, Newmark’s 15,000 professionals operate from more than 400 offices in established and emerging property markets on six continents.
With roots dating back to 1929, Newmark’s strong foundation makes it one of the most trusted names in commercial real estate. Newmark’s full-service platform comprises BGC’s real estate services segment, offering commercial real estate tenants, landlords, investors and developers a wide range of services including leasing; Newmark Capital Markets services, including investment sales, debt placement, valuation and advisory services; commercial mortgage brokerage services; as well as corporate advisory services, consulting, project and development management, and property and corporate facilities management services. For further information, visit www.ngkf.com.
Newmark is a part of BGC Partners, Inc., a leading global brokerage company servicing the financial and real estate markets. BGC’s common stock trades on the NASDAQ Global Select Market under the ticker symbol (NASDAQ: BGCP). BGC also has an outstanding bond issuance of Senior Notes due June 15, 2042, which trade on the New York Stock Exchange under the symbol (NYSE: BGCA). BGC Partners is led by Chairman and Chief Executive Officer Howard W. Lutnick. For more information, please visit www.bgcpartners.com.