HVP completes disposition of coveview gardens in Rhinebeck, ny after a 10-year holding period

February 7, 2012

HVP affiliate CoveView Properties, LLC. has completed the sale of its Rhinebeck New York Townhouse project to a local investor.

HVP has announced that its affiliate, CoveView Properties LLC. has sold its interest in the Coveview Garden Apartments located in Rhinebeck, New York. The Townhouse Rental project was originally acquired in 2002 along with two other Hudson Valley multi-family properties. Hyde Park Estates, a 70-unit garden apartment complex and LakeView Apartments, a 40-unit complex in Stanfordville.

During the 10-year holding period, HVP made a number of improvements to the property including unit renovations, exterior siding and roofing, water systems, roads and landscaping.

HVP is shedding its smaller rural projects and redirecting its focus on core New York metro area projects.

HVP acts in the role of General Partner, Property Manager, Leasing and Selling Agent.

For information regarding Acquisitions and Dispositions call 914-834-4488