Daily Archives February 5, 2018

Luxury Developer Buys Mohegan Lake Apartment Complex

MOHEGAN LAKE, NY — Ginsburg Development Companies has acquired The Landing on Mohegan Lake for $54 million. The rental community features 207 one- and two–bedroom apartments on the border between Cortlandt and Yorktown, in the Lakeland school district.

It’s the newest addition of the company’s multifamily portfolio. GDC plans to integrate this community to its new development under construction in Peekskill called Fort Hill Apartments at the Abbey Inn. Shuttle service will be implemented to connect the two communities and the service to the Metro North train station.

Located on Lake Mohegan, the complex was built in the 1990s and is home to many young families with children. It was acquired from New Chalet Apartments, Inc., a private equity group based in Dallas, TX. Jeffrey R...

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